The logo of Australia’s Macquarie Group Ltd adorns a desk in the reception area of their Sydney office headquarters in Australia. REUTERS/David Gray

Australia’s Macquarie Group said late on Thursday that a fund managed by its asset management arm would invest in U.S.-based telecom services provider SwyftFiber.

Macquarie did not disclose the financial details of the deal, but a person familiar with the matter told Reuters that the asset manager was committing to make a $275 million investment.

SwyftFiber did not immediately respond to Reuters’ request for comment on deal details.

The proposed investment will allow SwyftFiber to speed up the construction of fiber infrastructure in existing and new markets, Macquarie said in a statement.

SwyftFiber provides internet and television streaming services to communities in Louisiana, Arkansas and Mississippi, it added.

Reuters