KKR has completed the acquisition of the majority stake in Hyperoptic Ltd, the UK’s largest residential gigabit broadband provider, from funds managed by Newlight Partners LP (Newlight) and Mubadala Investment Company.

Founded in 2011, Hyperoptic benefits from a full-fiber network covering 43 towns and cities across the UK, with gigabit broadband services passing almost 400,000 homes and businesses.

KKR’s investment builds on the firm’s track record as an owner and operator of European telecommunications infrastructure, including major joint ventures with Telxius and Altice in Spain and France respectively focused on mobile connectivity and towers, along with its ownership of Deutsche Glasfaser, a leading German fiber broadband provider. The investment in Hyperoptic is being made through KKR’s Global Infrastructure Investors Fund III.

LionTree Advisors acted as the exclusive financial advisor to Hyperoptic and the selling shareholders in connection with the transaction.

Financial details of the transaction were not disclosed.