Blackstone Tactical Opportunities, funds managed by Blackstone Group, have agreed to sell a minority stake in Phoenix Tower International (PTI) to John Hancock.
The stake was acquired by John Hancock Life Insurance Co. (JHUSA) and the John Hancock Infrastructure Fund (JHIF). JHIF, a private equity fund with approximately $2 billion of committed capital, is managed by the Power & Infrastructure team.
Phoenix Tower International is wireless tower operator in the Americas. The company was founded in 2013 by Dagan Kasavana, with a mission to own and operate high-quality wireless infrastructure assets in global markets experiencing strong growth. Blackstone Tactical Opportunities invested in PTI in 2014.
