Funds managed by Blackstone Tactical Opportunities (Tac Opps) have successfully recapitalized Phoenix Tower International (PTI), a wireless communications infrastructure provider. Tac Opps has raised $1.4 billion of dedicated capital for PTI to execute on its global business plan across the digital infrastructure sector.
Tac Opps initially invested in PTI in 2014, and over that time the business has grown to more than 8,000 cellular towers and related sites across 14 markets in three continents with a focus on U.S. dollar– and euro-denominated contracts. PTI’s management team, led by Dagan Kasavana, CEO, and Tim Culver, executive chairman, has deployed more than $3.5 billion of capital in the sector. Tac Opps expects to deploy substantial incremental capital for PTI to acquire and build wireless communications across the Americas and Europe.
“As our customers shift toward their 5G build-out needs, they require well-capitalized infrastructure providers that they t
