KKR Takes Hyperoptic off Mubadala and Newlight Partners’ Hands

Posted on 10/14/2019


KKR completed the acquisition of a majority stake in Hyperoptic Limited, a U.K. residential gigabit broadband provider, from funds managed by Newlight Partners LP and Mubadala Investment Company. The investment in Hyperoptic is being made through KKR’s Global Infrastructure Investors Fund III. Founded in 2011, Hyperoptic will continue to be led by Chief Executive Officer Dana Tobak, CBE and Executive Chairman Boris Ivanovic.

Advisors

LionTree Advisors acted as the exclusive financial advisor to Hyperoptic and the selling shareholders in connection with the transaction.

Newlight Partners LP (previously referred as Quantum Strategic Partners Ltd.) is led by David Wassong and Ravi Yadav and the entity first started out as the Strategic Capital Investment Partners, LP at Soros Fund Management LLC. Newlight Partners spun out of Soros in 2018 and now has around US$ 4 billion in capital commitments and assets under management.

Mubadala invested in Hyperoptic in late 2018. In late July 2018, Hyperoptic replaced its loan facility of £100 million that was supported by BNP Paribas Fortis, The Royal Bank of Scotland (RBS), ING Bank, and NIBC Bank. Hyperoptic got a new loan facility of £250 million with Barclays, BNP Paribas Fortis, HSH Nordbank, NIBC Financing, ING Bank, Royal Bank of Canada, Societe Generale, and the Royal Bank of Scotland.

Keywords: Soros Family Office.