PSP Investments and BCE Inc. announce strategic partnership to create Network FiberCo

Goodmans LLP is acting as Canadian counsel to the Public Sector Pension Investment Board (“PSP Investments”) in connection with the formation of Network FiberCo, a long-term strategic partnership with BCE Inc., to accelerate the development of fibre infrastructure through Ziply Fiber in underserved markets in the United States. 

As a premier wholesale network provider, Network FiberCo will be focused on last-mile fibre deployment outside of Ziply Fiber’s incumbent service areas, enabling Ziply Fiber to potentially reach up to 8 million total fibre passings. The transaction is expected to close in the second half of 2025, subject to customary closing conditions and the closing of BCE's previously announced acquisition of Ziply Fiber. PSP Investments has agreed to a potential commitment to Network FiberCo in excess of US$1.5 billion.

PSP Investments is one of Canada’s largest pension investors, with C$264.9 billion of net assets under management as of 31 March 2024. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit investments.