India’s telecom backbone lands a ₹12,100 cr bet

Mumbai: Canadian investment firm La Caisse has committed a ₹12,100 crore ($1.76 billion) investment in Altius Telecom Infrastructure Trust, a Brookfield-backed entity, to capitalize on India's burgeoning demand for mobile connectivity and 5G infrastructure, Brookfield announced on Wednesday. As part of the deal, La Caisse now owns a 24% stake in Altius, which manages over 258,000 telecom towers and sites throughout India.

Brookfield will maintain its position as the largest investor in Altius, with other shareholders comprising affiliates of Singapore's GIC and British Columbia's Investment Management Corporation (BCI).

India, the world's second-largest telecommunications market, is witnessing a surge in mobile data usage and the adoption of 5G networks, necessitating robust digital infrastructure. Emmanuel Jaclot, executive vice-president and head of infrastructure and sustainability at La Caisse, highlighted the importance of aligning infrastructure with India's expanding economy, where mobile data consumption and 5G technology are proliferating.

La Caisse's investment further solidifies its global footprint in telecom towers and digital infrastructure, partnering with Brookfield and other esteemed institutional investors. Jaclot emphasized that their backing of an established platform in a promising market, alongside Brookfield and other long-term partners, underscores their confidence in Altius's prospects.

Brookfield's CEO, Sam Pollock, praised Altius's nationwide platform, capable of meeting India's demand for mobile connectivity and 5G infrastructure, and commended La Caisse's investment as a testament to the business's strength. The deal reflects the growing interest of global pension funds, sovereign wealth funds, and infrastructure investors in India's digital infrastructure sector, including telecom towers, data centers, and fiber networks.