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US buyout firm to finance 565km Ireland-France subsea link

Tiger Infrastructure has been enlisted to fund the project which will look to connect Ireland’s growing data centre industry to continental Europe.

New York-based private equity firm Tiger Infrastructure has agreed to finance a 565km subsea cable link between Ireland and France.

The submarine fibre-optic cable system has been in development since 2014 and is now scheduled to be in service by late 2018. It will be developed by Ireland-France Subsea Cable, a special purpose company set by telecom entrepreneurs Michael and Doug Cunningham. Tiger Infrastructure declined to state the cost of the project.

The system will provide ultra-high capacity transmission to telecoms firms and internet companies looking to connect Ireland’s wealth of data centres, owned by tech firms including Google, Apple and Amazon, to the rest of the continent.

“The massive growth of Ireland’s data centre industry and the requirement for resilient telecommunications infrastructure has created the need for a new, direct route to continental Europe,” said Michael Cunningham.

Tiger Infrastructure was formed in 2009 and is headed by Emil Henry, formerly global head of Lehman Brothers’ private equity business focused on infrastructure. Henry also worked in the US Treasury between 2005 and 2007.