Canadian investment group La Caisse has completed a major telecom infrastructure investment in India, acquiring a 24% stake in Altius Telecom Infrastructure Trust for approximately ₹12,100 crore (CAD 1.76 billion or about $1.3 billion). The deal was made alongside Brookfield, which continues as Altius’ largest investor.
The completed transaction strengthens the institutional investor base of Altius Telecom, India’s largest independent telecom tower platform. Existing shareholders affiliated with GIC and British Columbia Investment Management Corporation remain part of the ownership structure alongside La Caisse and Brookfield.
La Caisse Completes 24% Altius Telecom Investment
La Caisse, formerly known as Caisse de Depot et Placement du Quebec, is Canada’s second-largest pension manager and has experience investing in telecom towers and digital infrastructure globally. This telecom infrastructure investment gives the group direct exposure to India’s expanding digital infrastructure market at a time when rising mobile data consumption and the continued rollout of 5G are driving demand for telecom towers India relies on.
Emmanuel Jaclot, executive vice-president and head of infrastructure and sustainability at La Caisse, said the investment reflected the growing need for robust connectivity infrastructure. “As India’s economy grows and more people and businesses rely on higher use of mobile data, the infrastructure behind those connections needs to keep pace,” Jaclot said. He added that the investment was being made alongside Brookfield and other institutional partners with which La Caisse has longstanding relationships.
Altius Platform Supports India’s 4G and 5G Networks
Altius Telecom owns and operates more than 258,000 telecom towers and sites across India, providing infrastructure used by mobile operators to deliver 4G and 5G services. Its portfolio includes ground-based towers, rooftop towers, camouflage towers and cell-on-wheels.
Sam Pollock, CEO of Brookfield’s Infrastructure group, said Altius had built a scaled, nationwide platform well positioned to cater to India’s growing mobile connectivity and 5G infrastructure requirements. “La Caisse’s investment brings another long-term institutional partner to the platform and reflects confidence in the strength of the business,” Pollock said.
The rising demand for mobile data and continued 5G rollout are key factors underpinning this telecom infrastructure investment, as operators increase network capacity to meet growing data consumption in the world’s second-largest telecommunications market.
Investment Strengthens Altius’ Institutional Backing
Brookfield and its partners will continue to support Altius’ next phase of growth by deploying Brookfield’s owner-operator capabilities and taking a long-term approach to infrastructure investment, Pollock said.
The completed deal brings another significant institutional investor into Altius Telecom, reinforcing the platform’s position as a long-term play on India’s digital infrastructure needs. For La Caisse, this telecom infrastructure investment represents a considered entry into the telecom towers India segment, backed by established partners and a platform already serving nationwide connectivity demands.