Phoenix Tower International (“PTI”), a leading global wireless communications infrastructure provider, announced that Grain Management (“Grain”), through its flagship funds, and BlackRock, through a fund managed by its Diversified Infrastructure 
business (“BlackRock”) have made a strategic investment in the Company. The investment will support PTI’s future growth in providing critical tower infrastructure to new and existing markets around the world. Grain and BlackRock are joining Blackstone as investors behind PTI as they seek to further grow and expand the business.
“We welcome Grain Management and BlackRock as investors in Phoenix Tower International and look forward to leveraging their strong track records in digital infrastructure investing to support our continued expansion,” said Dagan Kasavana, Founder and Chief Executive, Phoenix Tower International. “Over the last decade, we’ve grown exponentially to provide wireless tower infrastructure to communities and countries in need of greater connectivity and we look forward to growing our impact with the support of our new and existing partners.”
“We’re excited to partner with Phoenix Tower International and bring our capital and sector expertise to bear in helping drive the company’s continued growth as a leading provider of global wireless infrastructure,” said Ted Manvitz, Managing Director at Grain.
David J. Grain, Founder and CEO of Grain, said, “Our partnership with PTI naturally aligns with our investment strategy and belief in the power of broadband communications to fuel digital transformation and economic growth, and to unlock human potential.”
“Phoenix Tower International owns and operates critical infrastructure that supports a growing network of mobile network operators globally, helping deliver wireless connectivity to customers around the world,” said Mark Florian, Global Head of Diversified Infrastructure, BlackRock. “We are excited to invest on behalf of our clients in this leading platform and to partner with Dagan and PTI’s highly experienced management team to support the Company’s ongoing growth.”