Pantheon Infrastructure PLC - investment trust managed by Pantheon Ventures and focused on infrastructure assets - Invests USD30 million in US wireless communication infrastructure operator Veritcal Bridge via a co-investment vehicle managed by DigitalBridge Group Inc.
Vertical Bridge holds a portfolio of more than 8,000 towers and 300,000 total sites which spreads across the US and Puerto Rico.
"We are pleased to have made an investment in a sector that is experiencing such strong tailwinds, and alongside a sponsor in DigitalBridge with an excellent track record investing in this space. As the largest privately-owned operator of wireless communications towers in the US, and the world's first tower company to become carbon neutral, Vertical Bridge is very well placed to capitalise on the growing demand for 5G-enabled services," said Richard Sem of investment manager Pantheon Ventures.
Current stock price: 105.50 pence
12-month change: up 1.6%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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