Canadian investment group La Caisse has invested ₹12,100 crore (CAD 1.76 billion) to acquire a 24 per cent stake in Altius Telecom Infrastructure Trust (Altius), India’s largest independent telecom tower platform.
With this, Brookfield remains Altius’ largest investor, alongside La Caisse and existing shareholders, affiliates of GIC and British Columbia Investment Management Corporation (BCI).
“As India’s economy grows and more people and businesses rely on higher use of mobile data, the infrastructure behind those connections needs to keep pace. This is a sector we know well through our investments in telecom towers and digital infrastructure around the world. With Altius, we are investing in an attractive market through an established platform, alongside Brookfield and other institutional partners with whom we have longstanding relationships,” said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure and Sustainability at La Caisse.
Altius owns and operates more than 258,000 telecom towers and sites in India, serving the infrastructure that mobile operators to deliver 4G and 5G services.
Speaking on the investment, Sam Pollock, CEO of Brookfield’s Infrastructure group, said, “Alongside our partners, we will continue to support Altius’ next phase of growth by deploying our owner-operator capabilities and disciplined, long-term approach to infrastructure investing.”
“La Caisse’s ₹12,100 crore investment for a 24 per cent stake in Altius is a strong endorsement of India’s telecom and digital-infrastructure growth story. With Brookfield continuing as the largest investor, the deal brings powerful long-term institutional capital behind Altius’ 258,000+ tower platform,” said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities.