Blackstone Infrastructure Partners Acquires Stake in Phoenix Tower International.

M2 EQUITYBITES-January 20, 2022-Blackstone Infrastructure Partners Acquires Stake in Phoenix Tower International

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Funds managed by US-based alternative asset manager Blackstone's (NYSE: BX) Blackstone Infrastructure Partners have purchased a 35% stake in private cell tower platform Phoenix Tower International from Canada-based Manulife Investment Management, the firm said.

Phoenix Tower International is active in the Americas and Europe.

Founded in 2013, Phoenix Tower International operates over 14,000 cell towers across 18 countries.

PTI owns and operates wireless infrastructure sites in markets experiencing strong wireless usage growth around the world. PTI's expansion is focused throughout the Americas and Europe.

Digital infrastructure, which enables mobile connectivity and cloud-based computing, has long been an area of focus for Blackstone, with COVID-19 accelerating the sector's growth and required investment.

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