Pantheon Infrastructure (PINT) is investing €49.2m in German and Austrian digital infrastructure company GD Towers via a DigitalBridge co-investment vehicle.
In July last year, Brookfield and DigitalBridge bought a 51% stake in GD Tower from Deutsche Telekom.
GD Towers operates more than 40,500 sites in Germany and Austria, 33,500 of which are run under provider Deutsche Funkturm in Germany and 7,000 under Magenta Telekom Infra in Austria.
Richard Sem, a partner at Pantheon, PINT’s investment manager, said: “We are pleased to announce this latest transaction in a highly attractive asset that enables us to participate in the robust opportunity in European telecommunications with a high-quality counterparty.
“We believe the tailwinds in this sector provide attractive growth opportunities which are underpinned by long-term contracted cash flows that provide strong downside protection.”
Deutsche Telekom continues to hold 49% of GD Tower.
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