Canada-based Cordiant Capital Inc. plans to raise roughly US$350 million for a telecom infrastructure equity fund and is speaking to potential anchor investors, Reuters reported, citing Co-CEO Benn Mikula.
The fund, Cordiant IX, looks to capitalize on the increasing global demand for new infrastructure with the expected rollout of 5G technology and increased consumption of mobile data.
Citing data from industry tracker Preqin, the news outlet said there are 11 telecom-focused funds presently raising money in the global market.
Cordiant Capital has also hired two new senior dealmakers, David Kippen and Hagai Shilo, ahead of the launch of the fund, the report added, citing Mikula. Both Kippen and Shilo previously worked at JPMorgan.
Mikula also said he expects some investors to commit an additional US$350 million alongside the fund but not in it, and invest in the same telecom infrastructure.