Partners Group is said to be providing all of the equity financing for the $500 million project, which will directly link New York, USA, and Sấo Paulo, Brazil.
Seaborn is aiming for the network to become operational within the next two years, and claims to have already sold substantial capacity. It includes Microsoft Corporation among its initial customers, which it secured in September of last year.
In has also secured Natixis as sole structuring bank, underwriter, lead arranger and COFACE Facility Agent to provide a fully underwritten $270 million in senior secured project debt financing.
"The Seabras-1 project is a great fit with Partners Group's strategy of seeking out opportunities to construct the core infrastructure assets of the future. Telecommunications demand between South America and the US - and indeed the rest of the world - is only going to grow in the future and we see huge potential for Seaborn's cable networks," said Brandon Prater, partner and global co-head of private infrastructure, Partners Group.
