INTELLIGENT BRANDS // Mobile Technology
PATRIZIA pushes global Smart City investment beyond EUR 600 million with new US FiberCity network deal
Kenosha , Wisconsin , gets an open access , city wide , fiber-to-the-premise ( FTTP ) rollout through the partnership between PATRIZIA ’ s Smart Cities Infrastructure Fund ( SCIF ) and SiFi Networks .
PATRIZIA , a leading partner for global real assets , has invested in its latest FiberCity network project in the US that will bring high-speed Internet to the city of Kenosha , Wisconsin .
Kenosha FiberCity will be funded through the investment from SCIF , an investment vehicle funded by Dutch pension fund manager APG and managed by PATRIZIA Infrastructure on behalf of Dutch pension funds ABP and PPF APG . This latest deal sees PATRIZIA ’ s commitment to Smart City investment surpass EUR 600 million .
The FTTP network is being delivered by SiFi Networks , a leading North American privately owned telecommunications company . When complete , Kenosha FiberCity will provide 10 gigabit enabled speeds to 40,000 residents and businesses in the city .
Kenosha is the sixth US city to benefit from the partnership between SiFi Networks and SCIF . The construction of the approx . 700 miles of fiber and 56 cabinets is expected to be completed by November 2025 .
Phoebe Smith , Senior Director at PATRIZIA Infrastructure , said : “ We are thrilled to extend the FiberCity network to Kenosha in collaboration with SiFi Networks – a company in which we are a shareholder . Having already invested in four cities in California and one in Massachusetts , we are firmly committed to delivering open access , high-speed networks to millions of people across America .
“ With the need to digitalize our economies only accelerating , enabling the development of smarter cities through innovative digital infrastructure is absolutely essential if we are to meet the future demands of our communities .”
Among the benefits to the city , the initiative will enable consumers greater choice of Internet providers and pave the way for Kenosha to become a Smart City in future . With nearly half of its population under 35 years of age , high-speed Internet will be vital for supporting the jobs economy in Kenosha .
Ben Bawtree-Jobson , Chief Executive at SiFi Networks , said : “ SiFi Networks have been busy at work in Kenosha for months and we are delighted with the experience to date and the opportunity to bring our FiberCity solution to residents and businesses in the city .”
SCIF was established in November 2018 and targets investments that enable the implementation of a wide range of Smart City infrastructure solutions , allowing cities to more efficiently allocate resources and improve the lived environment .
Last year , SCIF made its first investments in Europe , creating a EUR 180 million portfolio of Italian smart streetlighting companies . Kenosha is SCIF ’ s ninth investment , with the fund committed to investing over EUR 600 million in Smart City projects in total . p
70 INTELLIGENTCIO NORTH AMERICA www . intelligentcio . com