Tiger backs fibre-optic developer planning US-Canada link

Tiger Infrastructure Partners, a US-based mid-market fund manager, has invested in a Canadian fibre-optic developer that’s planning to build the first submarine cable system across Lake Ontario.

The New York-based firm committed an undisclosed amount to Crosslake Fibre, a Toronto-based telecommunications company planning to connect Toronto and Buffalo, New York with a fibre-optic cable across Lake Ontario. Crosslake has a strong position in Canada’s telecom market after regulations were recently passed restricting foreign ownership of fibre-optic systems.

Tiger is a mid-market investor focused on growing infrastructure platforms. The firm has invested more than $4 billion of equity in communications, energy, transportation, and related sectors, primarily located in North America and Europe. Tiger was founded in 2009 by Julian Robertson and Emil Henry, former assistant secretary of the US Treasury.

Tiger is known to be raising its second fund, Tiger Infrastructure Partners II. In September, Tiger used fund II to purchase its first natural gas-fired generation plant, the 500MW Danskammer Station in New York, from Mercuria Energy Group.

In November, the firm led a £50 million ($66.3 million; €56.3 million) investment in UK-based energy storage firm Battery Energy Storage Solutions. The investment is Tiger’s first venture into the UK market and its maiden storage commitment.