Phoenix Tower International Announces Investment from Grain Management and BlackRock to Continue Global Expansion
BOCA RATON, Fla., March 27, 2024 /PRNewswire/ -- Phoenix Tower International ("PTI" or the "Company"), a leading global wireless communications infrastructure provider, today announced that Grain Management ("Grain"), through its flagship funds, and BlackRock, through a fund managed by its Diversified Infrastructure business ("BlackRock") have made a strategic investment in the Company. The investment will support PTI's future growth in providing critical tower infrastructure to new and existing markets around the world. Grain and BlackRock are joining Blackstone as investors behind PTI as they seek to further grow and expand the business.
Founded in 2013, and headquartered in Florida, PTI is the largest global private tower platform, operating over 24,000 telecom towers across 23 countries in North America, Europe, Latin America and the Caribbean. PTI serves a diversified customer base of global mobile network operators, enabling them to enhance their ability to keep their customers connected.
"We welcome Grain Management and BlackRock as investors in Phoenix Tower International and look forward to leveraging their strong track records in digital infrastructure investing to support our continued expansion," said Dagan Kasavana, Founder and Chief Executive, Phoenix Tower International. "Over the last decade, we've grown exponentially to provide wireless tower infrastructure to communities and countries in need of greater connectivity and we look forward to growing our impact with the support of our new and existing partners."
"We're excited to partner with Phoenix Tower International and bring our capital and sector expertise to bear in helping drive the company's continued growth as a leading provider of global wireless infrastructure," said Ted Manvitz, Managing Director at Grain.
David J. Grain, Founder and CEO of Grain, said, "Our partnership with PTI naturally aligns with our investment strategy and belief in the power of broadband communications to fuel digital transformation and economic growth, and to unlock human potential."
"Phoenix Tower International owns and operates critical infrastructure that supports a growing network of mobile network operators globally, helping deliver wireless connectivity to customers around the world," said Mark Florian, Global Head of Diversified Infrastructure, BlackRock. "We are excited to invest on behalf of our clients in this leading platform and to partner with Dagan and PTI's highly experienced management team to support the Company's ongoing growth.
About Phoenix Tower International
PTI, through its affiliates and subsidiaries, owns and operates over 24,000 telecom towers in North America, Europe, Latin America and the Caribbean. PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the world in high-growth markets. PTI is headquartered in Boca Raton, Florida. For more information, please visit www.phoenixintnl.com
About Grain Management
Grain Management believes broadband and digital infrastructure are foundational to the tech-enabled transformation occurring across all industries and facets of society. Our global team of seasoned and diverse professionals share a collective passion for the power of connectivity to strengthen communities and unlock human potential for all.
Founded in 2007, Grain Management is a leading, global investment firm. We specialize in digital infrastructure and are a trusted solutions provider to the broadband and communications industry. Our unique combination of sector knowledge, experience as operators, and disciplined analytical approach guide our differentiated investment strategy across fiber networks, data centers, wireless spectrum, cell towers, as well as managed and infrastructure services. For more information visit www.graingp.com.
About BlackRock Private Markets
BlackRock's private markets platform serves investors seeking outperformance in infrastructure, private debt, private equity, real estate, and multi-alternatives solutions. We strive to bring our investors the highest quality opportunities by drawing upon our global footprint, superior execution capabilities, proprietary technology, and position as a preferred partner. As of December 31, 2023, BlackRock manages US$327 billion in liquid and illiquid alternative investments and commitments on behalf of clients worldwide.
Contacts
Grain Management
[email protected]
BlackRock
Christopher Beattie
[email protected]
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