KKR & Co. Inc. acquired a majority stake in British gigabit broadband operator Hyperoptic Ltd. for an undisclosed amount.
The investment firm, through KKR Global Infrastructure Investors III LP, purchased the stake from funds managed by Newlight Partners LP and Abu Dhabi state fund Mubadala Investment Co., according to S&P Global Market Intelligence data.
CEO Dana Tobak and Executive Chairman Boris Ivanovic will continue leading Hyperoptic post deal completion, according to an Oct. 14 news release.
Hyperoptic provides full-fiber broadband services through a network that serves nearly 400,000 premises across 43 towns and cities across the U.K. The company plans to expand its footprint to 5 million homes and businesses by 2024.
Newlight Partners was spun out of Soros Fund Management LLC, the family office of George Soros. In September, the billionaire investor was reportedly in talks to sell his stake in Hyperoptic.
LionTree Advisors provided exclusive financial advice to Hyperoptic and the selling shareholders regarding the transaction.