CDPQ to Take 30% Stake in U.S Wireless-Infrastructure Company Vertical Bridge
April 02 2019 - 12:46PM
Dow Jones News
By Colin Kellaher
Canadian pension giant Caisse de Depot et Placement du Quebec on
Tuesday said it agreed to buy a 30% stake in the main operating
unit subsidiary of U.S. communications-infrastructure company
Vertical Bridge Holdings LLC for an undisclosed amount.
CDPQ said Vertical Bridge owns, operates and leases more than
266,000 locations such as towers, rooftops, billboards and utility
attachments for use in wireless network deployments.
CDPQ, one of Canada's biggest pension funds, said Vertical
Bridge will use the investment to expand its portfolio ahead of the
deployment of 5G, the next generation of wireless networks.
Vertical Bridge, a real-estate investment trust founded in 2014,
is backed by an investor group that includes Digital Bridge
Holdings, Jordan Co., Goldman Sachs Infrastructure Partners,
Stonepeak Infrastructure Partners, Edgewater Funds, California
State Teachers' Retirement System and Dock Square Capital LLC.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 02, 2019 12:31 ET (16:31 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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