BCI Invests in KKR Tower Platform Pinnacle Towers | KKR Stock News

🗝️ Key Points

• BCI acquires a minority stake in Pinnacle Towers from KKR, which remains the majority shareholder.
• Pinnacle Towers expands to 7,000 towers in the Philippines, becoming the largest independent tower company.
• The transaction is set to complete by Q3 2025, pending regulatory approvals.British Columbia Investment Management Corporation (BCI) has signed definitive agreements to acquire a minority stake in Pinnacle Towers, an Asia-based digital infrastructure platform, from KKR (KKR, Financial), which will maintain its position as the majority shareholder.

• BCI acquires a minority stake in Pinnacle Towers from KKR, which remains the majority shareholder.
• Pinnacle Towers expands to 7,000 towers in the Philippines, becoming the largest independent tower company.
• The transaction is set to complete by Q3 2025, pending regulatory approvals.

British Columbia Investment Management Corporation (BCI) has signed definitive agreements to acquire a minority stake in Pinnacle Towers, an Asia-based digital infrastructure platform, from KKR (KKR, Financial), which will maintain its position as the majority shareholder. Pinnacle Towers, established in 2020, has rapidly grown to accommodate the increasing demand for telecommunications infrastructure in the Philippines, scaling up to approximately 7,000 towers.

The partnership marks a strategic move for BCI, aligning with its emerging markets strategy focused on high-quality infrastructure assets. Lincoln Webb, Executive Vice President & Global Head of Infrastructure & Renewable Resources at BCI, expressed enthusiasm for the collaboration, highlighting the importance of digital infrastructure in the Philippines’ market for long-term capital.

Projesh Banerjea, Managing Director of Infrastructure at KKR, acknowledged the successful expansion and capability enhancement of Pinnacle Towers, achieved in collaboration with its management team. KKR’s initial investment in Pinnacle Towers was facilitated through its Asia Infrastructure Funds I and II, part of its global infrastructure initiative established in 2008.

The transaction is anticipated to be finalized by the third quarter of 2025, subject to customary regulatory approvals. BCI continues to expand its presence in the Asia-Pacific region, adding Pinnacle Towers to its portfolio of nine active investments, which include companies like Rakuten Mobile in Japan and Cube Highways in India.

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