Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) has acquired a stake in EdgePoint Infrastructure, a telecom towers platform focused on Southeast Asia. ADIA did not disclose its shareholding, but said it is "a significant minority stake".
The fund has committed up to US$500 million to invest in EdgePoint. Growth will come from both acquisitions and building new towers.
“This agreement with EdgePoint aligns with a number of our key investment themes, including the growth of digital infrastructure and our confidence in the fast-growing markets of Asia,” says Khadem AlRemeithi, executive director of the real estate and infrastructure department at ADIA.
EdgePoint Infrastructure develops, acquires and operates telecom towers, distributed antenna systems and related infrastructure in Southeast Asia. It has built up a portfolio of over 10,000 assets in Indonesia and Malaysia, mainly via acquisitions, and wants to expand into other territories.
EdgePoint is a portfolio company of Digital Colony Partners II, the flagship private equity fund of US-based DigitalBridge Group (formerly Colony Capital).
Major acquisitions include a controlling stake in PT Centratama Telekomunikasi Indonesia, which operates more than 4,000 towers.
Last year ADIA invested US$750 million in Jio Platforms, a holding company for India's largest mobile network Jio and the other digital businesses of Reliance Industries.