Investment firm Swiss Life Asset Managers has acquired a controlling stake in infrastructure company Telecom Infrastructure Partners (TIP).

The company this week struck a binding agreement with London-based InfraBridge, an infrastructure investment management division of DigitalBridge Group, to acquire a co-controlling equity stake in TIP.

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Financial terms were not disclosed.

Founded in 2021, TIP is a London-based company that operates within the global lease aggregation market, targeting telecom sites predominantly across Europe and Latin America.

TIP's business model focuses heavily on the acquisition of triple net lease agreements from individual landlords.

A triple net lease is an agreement that sees the tenant of the property held responsible for all property costs, plus rent. Such agreements can create long-term revenue streams for periods of 30 to 50 years.

“We are excited to partner with InfraBridge to support TIP during its next major growth phase," said Gianfranco Saladino, head of value-add Infrastructure at Swiss Life Asset Managers, said. "The North American example has shown the true potential of land lease aggregation, and we are thrilled to work with our partners, as well as with Eric Overman and his team, to fast-track TIP’s global expansion.”

“Since we led the establishment of TIP in 2021, we have supported TIP’s rapid scale-up in Europe and Latin America to a fast-growing lease aggregator with over 850 leases and a significant backlog. This transaction is a testament to our belief in the company's potential and attractive position in the market, and we are delighted to partner with Swiss Life Asset Managers to fuel TIP’s growth further,” said Damian Stanley, managing partner at InfraBridge.

The transaction is expected to close by the second quarter of this year but remains subject to customary regulatory approvals.

Swiss Life has previously invested in DigitalBridge's US data center unit, DataBank.

DigitalBridge acquired AMP Capital’s infrastructure equity investment business in 2022, rebranding it to InfraBridge last year.