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Global investment firm KKR today announced KKR’s investment in Pinnacle Towers to advance the Company’s mission to build the leading independent telecommunications tower platform (TowerCo) in the Philippines. Pinnacle’s main subsidiary is Frontier Tower Associates Philippines (FTAP).
With the investment, Pinnacle aims to strengthen and expand the Philippine telecommunications infrastructure at a time when Philippine mobile users increasingly demand reliable, data-rich, high-speed, and affordable connectivity and generally to address the growing demand for telecommunications infrastructure in and around Southeast Asia. Pinnacle specializes in undertaking custom built telecom tower projects, providing operators with capital efficient infrastructure solutions to rapidly expand their coverage. The Company is led by a highly experienced senior management team comprising telecom tower veterans with strong backgrounds in large-scale deployments in various markets, including Southeast Asia.
Pinnacle’s subsidiary, FTAP, is one of the first independent TowerCos in the Philippines to obtain a provisional license to operate from the Department of Information and Communications Technology and is a pioneer in the recently liberalized Philippine tower market.
David Luboff, Partner and Director of Infrastructure Asia Pacific at KKR
The telecommunications sector in the Philippines has grown rapidly in recent years amid increasing demand for connectivity. This has led to an imbalance of resources and the need to expand the existing infrastructure to allow operators to provide better service and coverage to their customers.
Patrick Tangney, President and CEO, Pinnacle
KKR’s investment comes at a crucial time: the Philippines, and Asia more generally, is one of the world’s fastest growing and most dynamic mobile markets. Improving the telecommunications infrastructure has become a key priority, especially in our current environment.
