KKR Invests $1.5B in Vertical Bridge to Scale U.S. Tower Platform
Vertical Bridge REIT, LLC and KKR have announced a $1.5 billion equity investment that establishes a fully funded, long-term capital structure to support the expansion of one of the largest private communications infrastructure platforms in the U.S.
The transaction positions Vertical Bridge to accelerate development across its nationwide portfolio of more than 17,000 wireless towers, reinforcing its strategy as a long-term owner and operator of critical digital infrastructure assets. Existing sponsors DigitalBridge and La Caisse also participated in the investment.
“This transaction provides us with the resources to continue developing our portfolio at scale while maintaining our disciplined, returns-focused approach to capital deployment,” said Ron Bizick, President and CEO of Vertical Bridge.
KKR’s investment builds on more than $40 billion the firm has deployed globally in digital infrastructure, including tower platforms such as Vantage Towers in Europe and Pinnacle Towers in the Philippines, as well as prior investments in Telxius and Hivory Towers. The investment is being funded primarily through KKR’s core infrastructure strategy.
“The convergence of 5G densification, edge compute, and surging data demand is creating a structural need for more and better located wireless infrastructure,” said Waldemar Szlezak, Global Head of Digital Infrastructure at KKR.
Advisors on the transaction included Centerview Partners LLC and Simpson Thacher & Bartlett LLP for Vertical Bridge, and Barclays, Houlihan Lokey and Kirkland & Ellis LLP for KKR.
