Canadian institutional investor La Caisse has invested INR121bn (€1.1bn) to acquire a 24% stake in Altius Telecom Infrastructure Trust, India’s largest independent telecom tower platform.
The transaction sees La Caisse join Brookfield, which remains the platform’s largest investor, alongside existing shareholders affiliated with GIC and British Columbia Investment Management Corporation.
Altius owns and operates more than 258,000 telecom towers and sites across India.
Emmanuel Jaclot, EVP and head of infrastructure and sustainability at La Caisse, said: “As India’s economy grows and more people and businesses rely on higher use of mobile data, the infrastructure behind those connections needs to keep pace. This is a sector we know well through our investments in telecom towers and digital infrastructure around the world.
“With Altius, we are investing in an attractive market through an established platform, alongside Brookfield and other institutional partners with whom we have longstanding relationships.”
Sam Pollock, CEO of Brookfield’s infrastructure group, said: “Altius has built a scaled, nationwide platform that is in a leading position to meet India’s demand for mobile connectivity and 5G infrastructure.
“La Caisse’s investment brings another long-term institutional partner to the platform and reflects confidence in the strength of the business. Alongside our partners, we will continue to support Altius’ next phase of growth by deploying our owner-operator capabilities and disciplined, long-term approach to infrastructure investing.”
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