New capital enables rapid expansion of GigaMonster’s Universal Access Network in multifamily communities and commercial buildings throughout the US
ATLANTA, Nov. 13, 2019 (GLOBE NEWSWIRE) -- GigaMonster, one of the nation’s leading fiber-based internet providers to the multifamily and commercial industries, today announced Barings Alternative Investments has completed a majority investment on behalf of clients and accounts managed by Barings, in GigaMonster Networks’ parent company, GigaSphere Holdings LLC.
GigaMonster will use the new capital to expand its Universal Access Network (UAN) offering in multifamily and commercial properties, including mixed-use smart districts owned and controlled by its strategic partners. As technologies like 5G, SDN, small cells, CBRS and private LTE are increasingly adopted, Barings and GigaMonster see the need for wireless, carrier-neutral network solutions in the buildings and mixed-use properties it serves.
“Through our Universal Access Network (UAN), we are addressing the challenges that multifamily and commercial properties face when connecting a rapidly increasing number of wired and wireless devices,” said Bill Dodd, Chairman and CEO of GigaMonster. “We are honored to have the opportunity to work closely with the Barings team. Their guidance and expertise in telecommunications as well as retail, office, industrial, multifamily and hotel properties will be instrumental in our continued expansion. Consumer needs are changing rapidly, and in today’s digital world, it’s imperative their devices stay connected over a consistently fast and reliable network like ours.”
Barings Alternative Investments is a 430-plus associate team located across 11 countries that manages over $51 billion* in client capital. The company seeks differentiated sources of returns by incorporating decades of investment experience in alternative assets, offering investors access to a diverse range of opportunities across private equity, real assets, asset-based investments and real estate.
Since its introduction as a fiber-based broadband company in 2015, GigaMonster has grown rapidly, now reaching over 45 markets nationwide and continuing to expand. For more information, please visit www.gigamonster.net.
MVP Capital Advisors served as exclusive financial advisor to GigaMonster in this capital raise with Barings. MVP Capital leveraged its expertise in the telecom infrastructure sector and long history of successfully raising capital for companies and entrepreneurs in this space. Securities offered through MVP Capital Advisors, LLC, a SEC registered broker/dealer and Member of FINRA/SIPC.
Smith Gambrell Russell, LLP served as GigaMonster’s legal advisor on the transaction.
GigaMonster provides fiber-based internet and networks to the multifamily and commercial industries at symmetrical speeds of more than 1 Gbps at very low latencies. Today GigaMonster services properties in over 45 markets throughout the US. As one of the nation’s fastest growing multifamily and commercial gigabit network providers, GigaMonster’s primary goal is to offer its customers and partners carrier-neutral network solutions in their buildings, while offering the absolute best customer experience available. GigaMonster adds considerable value to its real estate partners by delivering higher occupancies, longer retention rates and increased property values. To learn more, visit www.gigamonster.net.
Barings is a $335+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients.
Through active asset management and direct origination, Barings provides innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific. Learn more at www.Barings.com.
Media Relations, Barings