Private equity has a $250 million plan to build a new broadband competitor in the Sunbelt

Private equity firm Friedman Capital is looking to scoop up as many as 20 small broadband providers across the Southeastern Sunbelt region in the US, aiming to build a sizable competitor capable of bringing better broadband to parts of the country experiencing rapid population growth. Friedman Capital launched a new strategic investment fund to fuel its plan, aiming to secure $250 million in capital commitments. The company is targeting deals with fiber and fixed wireless providers in what it calls “SEC country”—Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Missouri, South Carolina, Tennessee, and Texas.