UniSuper, an A$115 billion ($76 billion) Australian superannuation fund, has acquired a 5 percent indirect stake in Vantage Towers in an A$1 billion ($661 million) deal. This acquisition is UniSuper’s first direct unlisted infrastructure investment in Europe.

Vantage Towers, one of the leading mobile towers businesses in Europe, has a portfolio of more than 83,000 sites across 10 markets in Germany, Italy, Spain and the United Kingdom.

Vodafone, Europe’s largest mobile network operator, is Vantage Towers’ anchor tenant and major shareholder. Vodafone recently entered into an agreement with a GIP and a KKR-led consortium to invest in Vantage Towers. UniSuper acquired its interest in Vantage Towers by joining the consortium through its relationship with KKR. UniSuper, KKR, other consortium partners and Vodafone are looking to support, optimize and grow the business.

The investment will complement UniSuper’s large infrastructure portfolio, including Sydney,