UniSuper invests $1bn in mobile towers business

UniSuper has secured a 5% indirect stake in mobile towers business Vantage Towers in an AUD $1 billion (€0.92 billion) deal.

Vantage Towers is a mobile towers businesses in Europe with a portfolio of over 83,000 sites across 10 markets including Germany, Italy, Spain and UK. Vantage Towers’ anchor tenant and major shareholder is Vodafone, a mobile network operator.

Vodafone recently entered into an agreement with a GIP and KKR led consortium to invest in Vantage Towers. GIP and KKR are highly experienced infrastructure managers with strong track records in managing digital infrastructure. UniSuper has acquired its interest in Vantage Towers by joining the consortium through its relationship with KKR. UniSuper, together with KKR, other consortium partners and Vodafone, to support, optimise and grow the business into the future.

This acquisition is UniSuper’s direct unlisted infrastructure investment in Europe, completed after a period of due diligence.

Sandra Lee, UniSuper’s head of private markets, was delighted to announce the investment, which will complement UniSuper’s large infrastructure portfolio including Sydney, Adelaide and Brisbane Airports, Transurban Chesapeake, and an allocation to forestry assets.

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