BCI Invests in KKR Tower Platform Pinnacle Towers

KKR, a leading global investment firm, British Columbia Investment Management Corporation (“BCI”), and Pinnacle Towers, an Asia-based digital infrastructure platform with a focus on the Philippines, today announced the signing of definitive agreements under which BCI will acquire a minority stake in Pinnacle Towers from KKR, which will remain the majority shareholder.

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Pinnacle Towers was established in 2020 to serve the rapidly increasing demand for connectivity and quality telecommunications infrastructure in the Philippines. Led by a highly experienced management team, the platform specializes in executing on Build-to-Suit (“BTS”) telecommunications tower projects, optimizing the use and management of Sale-and-Leaseback (“SLB”) assets with leading mobile network operators, and providing ancillary management services to industry players. In the span of five years, Pinnacle Towers has scaled to become the largest independent tower company in the Philippines with around 7,000 towers.¹

Lincoln Webb, Executive Vice President & Global Head, Infrastructure & Renewable Resources, BCI, said, “We are excited to work closely with KKR and Pinnacle’s management team to support the growth of the business. The Philippines represents a compelling market for long-term capital, especially in essential digital infrastructure services. This investment aligns with our emerging markets strategy of backing high-quality infrastructure assets alongside strong institutional partners. We look forward to supporting Pinnacle Towers as it continues to enhance digital connectivity and drive meaningful impact across the Philippines.”

Projesh Banerjea, Managing Director, Infrastructure, KKR, said, “We are very proud of the success that we have achieved with Pinnacle Towers to serve the Philippines’ connectivity needs. Since our initial investment, we have collaborated closely with Pinnacle Towers’ outstanding management team to deepen the platform’s capabilities and scale its presence organically and through bolt-on acquisitions. We are delighted to welcome BCI, who share our long-term vision and commitment to developing critical digital infrastructure, as strategic partners and look forward to building on Pinnacle Towers’ strong growth momentum.”