Manulife Investment Management Announces Formation of Lakefront Fiber to Serve Hyperscale, Carrier and Municipal Customers
Rhea-AI Summary
Manulife Investment Management has announced the formation of Lakefront Fiber, LLC, a joint venture with Midwest Fiber Networks (MWFN). The new entity will focus on providing connectivity solutions for hyperscale, carrier, and municipal customers, leveraging MWFN's established position as a regional fiber developer and operator.
Concurrent with its formation, Lakefront Fiber completed its first transaction, acquiring network assets from Everstream in Illinois. This acquisition adds 650 route miles to its network, enhancing its capability to provide high-capacity fiber connectivity across key Midwest markets.
The partnership represents an expansion of Manulife's digital infrastructure strategy, focusing on critical fiber assets backed by long-term contracts with creditworthy counterparties.Positive
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News Market Reaction – MFC
In the trading session that priced this news, MFC gained 0.22%, reflecting a mild positive market reaction.
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"We are pleased to partner with MWFN, with whom we have had a long-standing relationship, to support the build-out of Lakefront Fiber's extensive pipeline," said Recep Kendircioglu, Global Head of Infrastructure, Manulife Investment Management.
Lakefront Fiber will facilitate connectivity for hyperscale, carrier and municipal customers, building upon the long-standing relationships established by MWFN's multi-decade position as a leading regional fiber developer and operator.
"This partnership represents the extension of our digital infrastructure strategy into critical fiber assets supported by long-term contracts with creditworthy counterparties," said Eddie Dunn, Managing Director, Infrastructure, Manulife Investment Management.
Nik Ivancevic, Managing Partner of Midwest Fiber Networks, said "Our relationship with the Manulife IM team extends many years, and we are excited to expand MWFN's scale to better serve our customers through Lakefront Fiber."
Concurrently, Lakefront Fiber has also announced the closing of its first transaction, the acquisition of select network assets in the state of
About Manulife Wealth & Asset Management
As part of Manulife Financial Corporation, Manulife Wealth & Asset Management provides global investment, financial advice, and retirement plan services to 19 million individuals, institutions, and retirement plan members worldwide. Our mission is to make decisions easier and lives better by empowering people today to invest for a better tomorrow. As a committed partner to our clients and as a responsible steward of investor capital, we offer a heritage of risk management, deep expertise across public and private markets, and comprehensive retirement plan services. We seek to provide better investment and impact outcomes and to help people confidently save and invest for a more secure financial future. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
About Midwest Fiber Networks
Midwest Fiber Networks designs and delivers secure, high-speed fiber connectivity across the Midwest with a focus on reliability, redundancy, and customer satisfaction. With deep roots in telecommunications infrastructure and decades of experience, MWFN supports mission-critical operations for businesses, educational institutions, healthcare systems, and government entities. Through strategic partnerships and a rapidly growing footprint, MWFN is building the future of fiber—one mile at a time. For more information, visit midwestfibernetworks.com.
Media Contact: Elizabeth Bartlett, Elizabeth_Bartlett@Manulife.com