Ares leads $2bn financing for Phoenix Tower International
Ares Management is leading a $2bn debt facility for Phoenix Tower International (PTI), as part of a broader $6.5bn financing package designed to refinance the telecom infrastructure operator’s existing debt and fund its continued expansion, according to a report by Bloomberg.
Ares Management is spearheading a $2 billion debt facility for Phoenix Tower International (PTI), as part of a larger $6.5 billion financing package aimed at refinance the company's current debt and support its ongoing expansion, according to a Bloomberg report. This financing effort involves numerous lenders, with Ares contributing the most significant share.
The transaction is the largest of its kind for a privately held tower company, according to PTI's Chief Financial Officer Michael Bremer. PTI, based in Boca Raton, Florida, manages over 33,000 wireless sites in 23 countries, providing infrastructure utilized by wireless operators. The company has grown its international presence through acquisitions and strategic investments.
Blackstone purchased a 35% stake in PTI from Manulife Investment Management in 2022, followed by Grain Management and BlackRock's strategic investment in 2024 as PTI pursued further international growth. Ares' infrastructure business managed $29.9 billion in assets as of June 30, 2026, according to the company.
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