Simpson Thacher is representing Fengate Asset Management ("Fengate") in connection with its investment in Pilot Fiber ("Pilot"), an enterprise connectivity provider in the New York metro area. Simpson Thacher is also representing Pilot in connection with Pilot’s concurrent acquisition of the New York and New Jersey metro fiber business of Boldyn Networks ("Boldyn"). Fengate’s investment provides Pilot with over $330 million in new financing for the transaction, including Pilot's acquisition of the Boldyn network and funding for Pilot's continued growth.
Boldyn’s metro fiber business assets include a New York City fiber network known for data center connectivity, smart city infrastructure, and enterprise services, as well as a New Jersey fiber network serving commercial and carrier customers throughout the state. Upon closing, Pilot’s owned footprint will contain more than 1,600 route miles of fiber and connect more than 1,200 buildings and 50 data centers, significantly extending Pilot's reach into Brooklyn, Queens, the Bronx, Staten Island, and across New Jersey.
Fengate Asset Management is making its equity investment in Pilot via Fengate Infrastructure Fund V. Fengate is a leading alternative investment manager focused on infrastructure, private equity and real estate strategies, with more than $9 billion of capital commitments under management.
The Simpson Thacher team includes Gabriela Astolphi, Gabriel Silva, Tushar Parashar, Matthew Anderson, Charles Ritger, Natalie Marionneaux and Aline Januario (M&A); David Rubinsky, Phillip Popkin and Marie Gesellschap (Executive Compensation & Employee Benefits); Brian Gluck, Dorothy Hector and Daniel Song (Banking & Credit); Andrew Purcell, Ruoxi Zhang and Sean Largey (Tax); George Gerstein and Christopher Torikoglu (ERISA); Marisa Stavenas and John O'Connell (Capital Markets); Caroline Geiger, Christian Bond and Sara Liu (Intellectual Property & Data Privacy); Krista McManus and Helene Snyder (Real Estate); Carleigh Rodriguez and Shefain Islam (Environmental); Peter Guryan and Richard Jamgochian (Antitrust); David Caldwell, Vineeta Kamath and Austin Lowe (Regulatory); and Mick Tuesley, Claire DiMario, Ryan Stalnaker and Feven Yohannes (CFIUS).