InfraBridge and Swiss Life collaborate for joint control of TIP stake

InfraBridge, a leading infrastructure investment manager, and Swiss Life Asset Managers, on behalf of its funds, have entered into a binding agreement for the acquisition by Swiss Life Asset Managers of a co-controlling equity stake in Telecom Infrastructure Partners (“TIP”), a global lease aggregator of telecom sites in Europe and Latin America. This investment includes new equity commitments from Swiss Life Asset Managers to accelerate TIP’s platform expansion.

Established in 2021 and headquartered in London, TIP operates within the global lease aggregation market, targeting telecom sites predominantly across Europe and Latin America. TIP’s business model is focused on the acquisition of triple net lease agreements from individual landlords, granting the company long-term revenue streams for periods of 30 to 50 years.

Mobile telecom sites represent a key component of the digital infrastructure landscape and remain at the forefront of wireless infrastructure. GSM Association estimates that a USD $1.5 trillion investment in mobile networks will be needed by 2030 to meet the exponential growth in global demand for mobile data. Given its global set-up and strong local expertise, TIP is well positioned to capture an increasing share of a steadily growing addressable telecom site lease market.

Gianfranco Saladino, Head Value-add Infrastructure at Swiss Life Asset Managers, said, “We are excited to partner with InfraBridge to support TIP during its next major growth phase. 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 significant backlog. This transaction is 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. “We look forward to creating more opportunities for the company’s global employees, clients, and stakeholders.”

Eric Overman, Founding Partner and CEO at TIP, said, “We are excited to welcome Swiss Life Asset Managers as a key shareholder alongside InfraBridge. This new investment recognises TIP’s growth over the last two years and will support our ambitions for TIP to be a global leader in the telecom site lease market.”

Closing of the transaction remains subject to customary regulatory approvals and is expected to close by 2Q 2024.

CT Bureau