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Cerberus Closes $2.3B Continuation Fund for SubCom to Scale Global Subsea Cable Infrastructure

Big money usually chases attention. This time, it chased infrastructure. Cerberus Capital Management just locked in a $2.3B single asset continuation vehicle for SubCom, with CVC Secondary Partners stepping in as lead and Cerberus doubling down like a house that knows the odds.

Now zoom out for a second. SubCom is not some fresh logo chasing trendy jargon. This is a company with roots stretching back to the mid 19th century, stepping into subsea communications in 1955, and quietly laying down the physical backbone of the digital world ever since. Over a million kilometers of cable deployed. Enough to wrap the planet more than 25 times. That is not marketing. That is infrastructure with calluses.

David Coughlan, CEO of SubCom, is steering a machine that does not just build cables, it builds continuity. Engineering, manufacturing, installation, maintenance. Full stack before full stack was cool. And in a world where roughly 99% of intercontinental data traffic runs underwater, being the only U.S. based provider of subsea cable systems is not a fun fact. It is leverage.

Cerberus saw that back in 2018 when they carved SubCom out of TE Connectivity. Fast forward to today, and instead of exiting, they reload. Mike Sanford and Pat Moriarty are effectively saying the same thing without saying it. When demand curves start bending upward thanks to cloud, AI, and everything that needs low latency yesterday, you do not sell the shovel. You buy a bigger one.

Rikesh Mohandoss enters from the capital side, reinforcing that this is not just a liquidity event, it is alignment at scale. Secondaries are no longer the quiet corner of private markets. They are where conviction gets extended, not exited.

CVC Secondary Partners stepping in here is not случай. This structure lets Cerberus keep control while bringing in fresh capital to scale a platform that already touches nearly every corner of the connected world.

And if you are building anything that lives in the cloud, moves data, or pretends geography does not matter, this is the layer beneath your layer. SubCom is not asking for attention. It is collecting tolls in bandwidth. The takeaway is simple, but not easy. The market rewards the visible, but it compounds around the indispensable.

Cerberus

Cerberus

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Key Executives

  • David Coughlan (CEO)

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