Sidley Austin represented affiliates of Partners Group in a transaction aimed at consolidating a group of companies involved in a subsea fiber optic cable system that connects New York with Brazil, according to the firm.
Partners Group acquired units of Seabras Group, LLC, a holding company for subsea fiber optic cable systems. The company owns Seabras-1, the actual cable system, as well as Seaborn Management, Inc. and another subsidiary.
No terms for the deal were disclosed.
Seaborn Networks, which co-owns the Seabras-1 system with Partners Group, said in a statement that the acquisition allowed it to exit Chapter 11 bankruptcy protection at the end of June, and to reorganize under new management.
Partners Group said it had $94 billion in assets under management as of Dec. 31, 2019.