UBS Asset Management makes minority Investment in Tillman Infrastructure
Funds managed by UBS Asset Management (UBS-AM) on behalf of a large US pension plan have made a strategic minority investment in Tillman Infrastructure (Tillman), a leading developer and owner of telecommunication tower infrastructure throughout North America. This investment enables Tillman to accelerate its rollout plans to meet the mobile network operator’s demand for thousands of new telecommunication towers over the next few years.
Founded in 2016 and based in New York, Tillman builds, acquires, owns, and operates a portfolio of nearly 1,000 cell towers with over 1,250 more sites under various stages of development. Tillman is one of the largest tower builders in the US and tenants on Tillman sites include all major carriers including AT&T, Verizon, and T-Mobile, as well as regional carriers and Wireless Internet Service Providers (WISPs).
Morgan Stanley & Co. LLC acted as the exclusive placement agent to Tillman. Sullivan & Cromwell LLP acted as legal counsel to Tillman, and White & Case LLP acted as legal counsel for UBS-AM.
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