Swiss Life Asset Managers has completed the acquisition of a co-controlling equity stake in Telecom Infrastructure Partners (TIP).
The asset manager announced the deal yesterday, confirming that it has joined InfraBridge, an infrastructure investment management division of DigitalBridge Group, as a key investor in TIP.
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.
The deal was first announced in January. Financial terms have not been shared.
Swiss Life said that the strategic investment will "propel TIP into its next phase of exponential growth, positioning the company to support the increasing global demand for mobile sites and connectivity."
"The successful completion of this transaction marks a significant milestone in our commitment to investing within the telecom infrastructure sector," said Gianfranco Saladino, head of value-add infrastructure at Swiss Life Asset Managers.
"We look forward to collaborating with InfraBridge and the talented team at TIP to drive further expansion and innovation in this dynamic market.”
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.
