Swiss Life Asset Managers has inked a definitive agreement with InfraBridge, an infrastructure investment manager, to acquire a co-controlling equity stake in Telecom Infrastructure Partners (TIP).
TIP, headquartered in London and established in 2021, operates on a global scale within the lucrative lease aggregation market for telecom sites, focusing primarily on Europe and Latin America. Its operational model revolves around securing triple net lease agreements from individual landlords, ensuring prolonged revenue streams extending up to 30 to 50 years.
Mobile telecom sites represent a key component of the digital infrastructure landscape and remain at the forefront of wireless infrastructure. GSM Association estimates that a USD $1.5 trillion investment in mobile networks will be needed by 2030 to meet the exponential growth in global demand for mobile data. Given its global set-up and strong local expertise, TIP is well positioned to capture an increasing share of a steadily growing addressable telecom site lease market.
Gianfranco Saladino, Head of Value-add Infrastructure at Swiss Life Asset Managers, expressed enthusiasm about this partnership, highlighting the potential of land lease aggregation and emphasizing the collaboration’s intent to accelerate TIP’s global expansion. Saladino praised TIP’s trajectory, citing the company’s growth in Europe and Latin America and underscoring the partnership’s aspiration to further fuel TIP’s ascent.
Damian Stanley, Managing Partner at InfraBridge, echoed similar sentiments, lauding TIP’s rapid scaling and characterizing the transaction as a testament to their unwavering faith in the company’s prospects. Stanley emphasized the collaborative effort with Swiss Life Asset Managers to propel TIP’s growth trajectory while emphasizing the mutual benefits for stakeholders, clients, and employees alike.
Eric Overman, Founding Partner and CEO of TIP, expressed excitement about Swiss Life Asset Managers joining as a key shareholder alongside InfraBridge, recognizing this investment as an acknowledgment of TIP’s substantial growth over the past two years. Overman articulated the investment’s pivotal role in supporting TIP’s ambitions to cement its position as a global leader in the telecom site lease market.
The completion of this transaction is contingent upon customary regulatory approvals and is anticipated to conclude by the second quarter of 2024.
