Global investment firm KKR said Tuesday it invested in Pinnacle Towers Pte. Ltd. to support the latter’s rollout of cell site towers in the Philippines.
Pinnacle said with the investment, it would help strengthen and expand the Philippines’ telecom infrastructure when Filipino mobile users increasingly demand reliable data-rich, high-speed, affordable connectivity and more generally to address the rapidly growing demands for telecom infrastructure in and around Southeast Asia.
Pinnacle specializes in undertaking build-to-suit telecom tower projects, providing operators with capital-efficient infrastructure solutions to rapidly expand their coverage.
“The telecommunications sector in the Philippines has grown rapidly in the past few years amid the increasing demand for connectivity. This has led to a resource imbalance and the need to expand existing infrastructure to allow operators to provide better service and coverage to their customers,” said David Luboff, partner and head of Asia Pacific Infrastructure at KKR said.