United States: Tillman FiberCo and Northleaf execute a $500 million investment agreement

Northleaf Capital Partners and Tillman FiberCo have joined forces in a strategic partnership. The fiber broadband company confirmed receiving a preliminary investment of $200 million, with an additional $300 million possible as the company looks to expand.

The investment, per Tillman, will speed up its open access network while providing high-speed internet service speeds under a long-term contract. Tillman, a New York-based company founded in 2021, designs, constructs, and owns high-speed Internet infrastructure. The company is part of the portfolio of Tillman Global Holdings, a holding corporation founded by Sanjiv Ahuja.

Northleaf had TD Securities as its financial advisor and Kirkland & Ellis as its legal counsel, while Tillman FiberCo had TAP Advisors as its financial advisor and Sullivan & Cromwell as its legal counsel. Tillman Holdings, a subsidiary of Tillman Global, signed a $1 billion agreement with private equity firm Carlyle to increase its investment in Tillman Infrastructure, an independent cell tower company, in 2022.