Aviva Investors, the global asset management business of Aviva plc, has committed to invest in the Shere Group refinancing alongside Rabobank.

Shere Group, which is controlled by a fund managed by Arcus Infrastructure Partners LLP, is one of the largest owners of communications towers and wireless sites in the UK and the Netherlands. Shere has more than 950 sites, which are used extensively by all the major mobile network operators, as well as for radio and TV broadcast, public safety radio, microwave relays and other wireless-based communications services.

Aviva Investors will invest €50 million (US$55.4 million) in the refinancing debt through its European infrastructure debt platform, which manages capital on behalf of its European institutional clients.

Florent del Picchia, Infrastructure Director at Aviva Investors, said:

“This investment provides further diversification to our European infrastructure debt platform, through which we have invested in twelve different sectors, including utilities and transport, and across nine different countries.

“We are delighted to have participated in this key transaction to provide long-term funding and be able to accompany Shere Group in its continuing growth strategy.”