La Caisse de dépôt et placement du Québec (“CDPQ”), one of North America’s largest institutional investors, and global investment manager AMP Capital announced Monday, they will provide US$500 million of financing to Tillman Infrastructure, an American developer and owner of telecommunication tower infrastructure. “This initial investment will help finance the construction of new telecommunications towers across the United States,” the announcement stated. Under this agreement, the investment could reach up to US$1 billion, based on future growth needs.
Inside Towers reported in November on the agreement between Tillman, a virtual newcomer founded in 2016, and AT&T and Verizon, to bypass traditional tower developers and vertically integrate their buildout process. Tillman began construction on its first sites in late 2017, and is actively building in over three dozen states across the U.S.
Marc Cormier, Executive Vice-President, Fixed Income at CDPQ, said his company was contributing to Tillman’s “great potential” and “will only continue to benefit from a growing demand for data that will drive mobile infrastructure spending and development for years to come.”
AMP Capital Infrastructure Debt Partner Patrick Trears said: “Tillman is well-positioned to capitalise on its growth opportunity” while the deal “highlights the strength of our partnerships with leading institutional investors like CDPQ.”
July 24, 2018
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