MONTREAL and NEW YORK – Canadian institutional investor La Caisse de dépôt et placement du Québec (CDPQ) and global investment manager AMP Capital are providing US$500 million of financing to Tillman Infrastructure, an American developer and owner of telecommunication tower infrastructure.
Founded in 2016 and based in New York, Tillman builds, owns and operates a range of cell towers across the U.S. that are used by various wireless carriers. After beginning construction on its first sites in late 2017, the company said that it is actively building in over three dozen states. (Ed note: in Canada, the wireless carriers own the towers).
Under this agreement, the investment could eventually reach up to US$1 billion based on future growth needs.
"With Tillman's strong leadership and seasoned experts, along with our partner AMP Capital, we look forward to contributing to Tillman's great potential”, said CDPQ fixed income EVP Marc Cormier, in the news release. “It has a competitive product that delivers coast-to-coast speed and efficiency. The company will only continue to benefit from a growing demand for data that will drive mobile infrastructure spending and development for years to come."
"We are excited to have found great partners in CDPQ and AMP Capital to fuel the next stage of our aggressive growth plans”, added Tillman Infrastructure CFO Suruchi Ahuja. “We are committed to continue to be the carrier friendly and carrier preferred infrastructure provider, and a true partner to our customers as they focus on expanding their coverage and capacity across the nation."
