The Ontario Municipal Employees Retirement System is closing its previously announced investment in fibre technology company Deutsche Glasfaser Holding.

The German company is a provider of gigabit internet connections through fibre-to-the-home to more than 700,000 households and 5,000 businesses across the country. The investment, alongside partner EQT Infrastructure Fund IV, was announced in February 2020.

“This closing underlines both our ongoing interest in Germany as a high-quality jurisdiction and our continuing interest in telecommunications-related opportunities,” said Ralph Berg, global head of the OMERS Infrastructure, in a press release. “While we celebrate today’s success, our worldwide search for further solid investment opportunities maintains a steady pace.”

Read: OMERS investing in German internet infrastructure, PSP in cloud security platform

As previously announced, Deutsche Glasfaser will be combined with EQT Infrastructure Fund IV portfolio company Inexio to form a fibre-to-the-home player in rural Germany.

“Our thesis continues to be that investing in the development of telecommunication infrastructure will generate, as the rollout approaches completion, strong and stable cash flows that are a good match with our long-term obligations towards our OMERS members,” said Philippe Busslinger, head of Europe at the OMERS Infrastructure, in the release.

The news marks the pension fund’s third infrastructure investment in Germany, following its 2015 investment in motorway services provider Autobahn Tank & Rast Gruppe and its 2019 investment in VTG, the largest railcar leasing and rail logistics company in Europe.

Read: OMERS invests in Germany

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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