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ARES - altafiber raises $600M to continue its fiber expansion
Ares Management Corporation Class A
2023-08-29 16:54:05 ET
altafiber said on Tuesday that it had secured $600M in funding to continue the construction of its fiber networks in Ohio, Kentucky, Indiana, and Hawaii.
According to altafiber, the equity raise was supported by existing investors, funds managed by Macquarie Asset Management, Ares Management ( NYSE: ARES ), and supporting co-investors.
altafiber added that it expects to complete the construction of fiber to every single-family unit within Greater Cincinnati by the end of 2023.