Canada’s La Caisse has invested about ₹12,100 crore for a 24% stake in Brookfield-owned Altius Telecom Infrastructure Trust, India’s largest independent telecom tower platform, the companies said in a statement on Wednesday.
Brookfield will remain Altius’ largest investor, alongside La Caisse and existing shareholders affiliated with GIC and British Columbia Investment Management Corporation (BCI).
“As grows and more people and businesses rely on higher use of mobile data, the infrastructure behind those connections needs to keep pace,” said Emmanuel Jaclot, executive vice president and head of infrastructure and sustainability at La Caisse.
“This is a sector we know well through our investments in towers and digital infrastructure around the world. With Altius, we are investing in an attractive market through an established platform, alongside and other institutional partners with whom we have longstanding relationships,” he added.
La Caisse, a global investment group with more than 60 years of experience, invests across major financial markets, private equity, infrastructure, real estate and private credit. As of 30 June, it held CAD 552 billion in net assets. It has a dual mandate to generate long-term returns for its 48 depositors, representing more than six million Quebecers, and contribute to Québec’s economic development.
Tower scale
Altius owns and operates more than 258,000 telecom towers and sites across India, giving it a nationwide presence. The platform provides infrastructure that enables mobile operators to deliver 4G and 5G services.
India is the world’s second-largest telecommunications market, while rising mobile data use and adoption are driving demand for digital infrastructure.
“Altius has built a scaled, nationwide platform that is in a leading position to meet India’s demand for mobile connectivity and 5G infrastructure,” said Sam Pollock, CEO of Brookfield’s Infrastructure group. “We will continue to support Altius’ next phase of growth by deploying our owner-operator capabilities and disciplined, long-term approach to infrastructure investing.”