Global investment firm KKR today announced KKR’s investment in Pinnacle Towers to advance the Company’s mission to build the leading independent telecom tower platform (TowerCo) in the Philippines. Pinnacle’s principal subsidiary is Frontier Tower Associates Philippines (FTAP).
With the investment, Pinnacle aims to strengthen and expand the Philippines’ telecom infrastructure at a time when Filipino mobile users increasingly demand reliable data-rich, high-speed, affordable connectivity, and more generally to address the rapidly growing demands for telecom infrastructure in and around Southeast Asia. Pinnacle specializes in undertaking build-to-suit telecom tower projects, providing operators with capital-efficient infrastructure solutions to rapidly expand their coverage. The Company is led by a highly experienced senior management team comprising of telecom tower veterans with strong track records in large-scale rollouts in various markets, including in Southeast Asia.
Pinnacle’s subsidiary FTAP is one of the first independent TowerCos in the Philippines to secure a provisional license to operate from the Department of Information and Communications Technology and is a pioneer in the recently liberalized Philippines tower market.
David Luboff, Partner and Head of Asia Pacific Infrastructure at KKR
The telecommunications sector in the Philippines has grown rapidly in the past few years amid the increasing demand for connectivity. This has led to a resource imbalance and the need to expand existing infrastructure to allow operators to provide better service and coverage to their customers.
Patrick Tangney, Chairman and CEO of Pinnacle
KKR’s investment comes at a pivotal time: the Philippines – and Asia more generally – is one of the world’s fastest-growing and most dynamic mobile markets. Improving telecom infrastructure has become a key priority, especially in our current environment.
