Pi Capital secured an opportunity to co-invest alongside BC Partners in Intelsat, the world’s biggest commercial satellite communications provider.

In June 2007, BC Partners and other investors (including Silver Lake) bought a controlling stake which valued the US firm at an EV of US$16.3 billion. Intelsat’s customers include leading telecomms companies, media broadcasters, government organisations, multinational corporations and internet service providers. 2007 revenues were $2.2 billion. Its fleet of 54 satellites covers over 200 countries and 99% of the world’s population from 48 orbital positions, representing a 35% global market share of transponder capacity.