Blackstone Infrastructure Partners acquires a stake in Phoenix Tower International (PTI) to expand its cell tower platform

Blackstone Infrastructure Partners committed $2.4 billion on 2021-01-01 to acquire a 35% stake in Phoenix Tower International, significantly expanding its global digital infrastructure portfolio. This investment provides Blackstone with direct exposure to PTI's extensive network, encompassing over 24,000 towers, 986,000 managed sites, and 10,000 miles of fiber. The deal structure, involving a minority 35% stake, allows PTI to retain operational control while gaining substantial capital for its continued expansion across 22 countries in North America, South America, Europe, and the Caribbean. This strategic capital injection enables PTI to accelerate its growth initiatives within the telecom sector, leveraging Blackstone's financial backing. As the world's largest alternative asset manager, Blackstone continues to deploy capital into dynamic sectors, with this telecom acquisition adding a substantial asset base to its holdings. Phoenix Tower International, with its operations spanning 22 countries, brings a geographically diverse and critical infrastructure footprint to Blackstone's portfolio. The acquisition of a minority interest in a company owning over 24,000 towers and 10,000 miles of fiber demonstrates Blackstone's conviction in the long-term cash flows generated by essential digital infrastructure across the Americas and other regions. This move by Blackstone further diversifies its global digital infrastructure portfolio with assets across 22 countries.