Deal Description: Funds managed by Ares Management Corporation’s (Ares) Infrastructure Debt strategy are providing an additional £156 million debt investment to UK alternative network Brsk Limited for the upsizing of its facility. The amount comes in addition to the previously committed £103 million, taking the total funding amount to £259 million.

The financing will support Brsk to enable its Full Fibre to the Premises (FTTP) broadband network and further build-out its fibre operations. Through the agreement Brsk aims to deliver fibre broadband to 1 million UK homes by 2026, specifically targeting its mission to bring better broadband to underserved areas of the UK.

Baker Botts L.L.P. supported the Ares Infrastructure Debt strategy as its legal advisor.

James Fox, Managing Director in the Ares Infrastructure Debt strategy, said, “We are delighted by the opportunity to continue to transact with Brsk and support them on their next phase of growth. We have been pleased with the delivery of their plan since our initial investment and look forward to working with Giorgio and the team as they look to realise their goal of delivering fibre broadband to 1 million homes.”

The Baker Botts London office team was led by partner Tomas Gardfors and assisted by senior associate Kanwal Majeed and associate Jennifer O’Donoghue.

Brsk was supported by Sullivan & Cromwell LLP as its legal advisor.

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