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    Global Cloud Xchange



    Global Cloud Xchange (“GCX”) is a leading global data communications service provider and owner of one of the world’s largest private subsea fibre optic networks. The business provides high-bandwidth connectivity to a range of customers including over-the-top content providers, telecom carriers, new media providers and enterprises.

    GCX’s 66,000km of cables span from North America to Asia. It is particularly strong on the Europe-Asia and Intra-Asia routes where it is well positioned to capitalise on growth opportunities and serve the exponentially growing demand for data traffic.

    Recent developments

    GCX has shown strong year-on-year growth in lease revenues and has recently signed several large bulk capacity deals on its Middle East and intra-Asia subsea routes. Financial performance was held back by a high level of cable cuts which have now been repaired. The sales pipeline is healthy and demand for subsea data

    capacity continues to grow, driven by increasing adoption of AI applications and substantial investments in capacity and route diversification by the hyperscalers.

    Looking ahead, GCX is evaluating several attractive growth opportunities, for example, acquiring new subsea capacity and developing new edge data centres near its cable landing stations that will drive additional data on its subsea network.

    Investment rationale

    In November 2021, 3i Infrastructure plc agreed to invest c.$512m to acquire a 100% stake in GCX. Additional acquisition debt was raised in March 2022, reducing the Company's equity commitment to $377m. The investment completed in September 2022.

    • GCX owns one of the most comprehensive subsea cable networks globally, serving customers in over 180+ countries
    • Benefits from the rapidly expanding data market with data usage forecast to grow exponentially
    • Operates in a market with high barriers to entry whilst providing an essential service
    • Supported by a highly experienced management team who have a strong track record in the sector


    As a leading global data communications service provider and owner of one of the world’s largest private subsea fibre optic networks, GCX enables increased connectivity to underserved regions in Asia, Africa and Middle East. The business is continuously developing solutions to maximize the efficiency, utilisation and capacity of existing assets and systems, reducing environmental impacts. GCX is actively developing an ESG strategy to enhance its environmental, social and corporate governance. In addition, the business is in the process of certifying its carbon footprint and working on emission reduction initiatives.