LUXEMBOURG and MADRID, Spain, May 07, 2018 (GLOBE NEWSWIRE) — Marguerite II, a pan-European equity fund active in the renewables, energy, transport and digital infrastructure sectors, has signed an agreement to join the EllaLink submarine cable system as new sponsor to help develop the project.
The EllaLink system, providing telecoms connectivity between Spain, Portugal and Brazil, will be ready for service in 2020 and will enable low latency, data privacy and high capacity transmission for a broad range of customers between the major financial and population centres of Europe, South America and the Caribbean. Linking Data Centres in Madrid, Lisbon, Fortaleza and São Paulo, EllaLink will provide express subsea connectivity between Europe and Latin America, and offer the first ever direct fibre pairs between the two continents.
Nicolás Merigó, CEO of Marguerite stated: “The EllaLink project is a great fit with Marguerite’s strategy of seeking out differentiating investment opportunities in capital-intensive infrastructure assets. Submarine cables are at the core of today’s Telecommunication infrastructure and we see tremendous long-term growth for this industry. In EulaLink, we have found a world class partner, with an impressive track record in developing submarine cables and we are looking forward to supporting the development of the EllaLink system”.
Alfonso Gajate, Chairman of EulaLink, declared “We are delighted to have found in Marguerite an investor with the vision and financial strength to support our ambitions. With them, we share the view that EllaLink is a key telecommunications infrastructure project for enabling communications between Brazil, its neighbouring countries and Europe with the unique value proposition of offering a diverse, direct, secure and cost effective alternative to internet traffic between the two continents”.
Established in 2010 with offices in Luxembourg and Paris, Marguerite is an alternative investment fund manager licensed in Luxembourg. It is independently owned by its partners and manages three investment funds:
- Marguerite Fund, a EUR 710m infrastructure fund raised in 2010 and now fully invested across 20 investments
- Marguerite Pantheon SCSp, an investment vehicle owning stakes in renewables and transport assets in Europe
- Marguerite II SCSp, a EUR 705m infrastructure fund raised in 2017 with commitments from EIB, KfW, CDC, CDP, BGK, and ICO.
EllaLink is a new submarine cable connecting Brazil and Europe and it will link the major hubs of Sao Paulo and Fortaleza with Lisbon and Madrid. The system is being built by Alcatel Submarine Networks and will be one of the new generation coherent submarine cables, offering 72 terra bits of capacity over 4 fibre pairs. EllaLink has secured the landing sites in Santos (Brazil), Fortaleza (Brazil) and Sines (Portugal), and is scheduled to be ready for service in 2020.