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 provider of wireless communications infrastructure, announced today that Grain Management (“Grain”), through its lead 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 look to further grow and expand the business.

Founded in 2013 and headquartered in FloridaPTI is the largest global private tower platform, operating over 24,000 telecom towers in 23 countries in North America, Europe, Latin America AND Caribbean. PTI serves a diverse 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 record in digital infrastructure investments to support our continued expansion,” said Dagan Kasavana, Founder and Chief Executive Officer of Phoenix Tower International. “Over the past decade, we've grown exponentially to provide wireless tower infrastructure to communities and countries in need of greater connectivity, and we look forward to increasing our impact with the support of our new and existing partners. “

“We are excited to partner with Phoenix Tower International and bring our capital and sector expertise to help drive the company's continued growth as a leading global wireless infrastructure provider,” said Ted ManvitzManaging Director at Grain.

David J. GrainGrain's founder and CEO, said: “Our partnership with PTI is a natural fit with our investment strategy and belief in the power of broadband communications to drive digital transformation and economic growth and unlock human potential.”

“Phoenix Tower International owns and operates the critical infrastructure that supports a growing network of mobile network operators globally, helping to 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 partner with Dagan and PTI's highly experienced management team to support the Company's continued growth.

About Phoenix Tower International
PTI, through its subsidiaries and affiliates, owns and operates over 24,000 telecommunications towers in North America, Europe, Latin America and the Caribbean. PTI was founded in 2013 with a mission to be the leading site provider for wireless operators worldwide 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 that broadband and digital infrastructure are fundamental to the technology-enabled transformation occurring across all industries and aspects of society. Our global team of experienced and diverse professionals share a collective passion for the power of connection 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 for the broadband and communications industry. Our unique combination of sector knowledge, operator experience and disciplined analytical approach drive our differentiated investment strategy in 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-alternative solutions. We strive to provide our investors with the highest quality opportunities by leveraging our global footprint, excellent execution capabilities, proprietary technology and position as a preferred partner. Regarding December 31, 2023BlackRock manages 327 billion US dollars in liquid and illiquid alternative investments and engagements on behalf of clients worldwide.

contacts

Grain management
[email protected]

Black rock
Christopher Beattie
[email protected]

SOURCE Phoenix Tower International