Proximus Group is a provider of digital services and communication solutions operating in the Benelux, as well as global markets. PLI infrastructure supports Proximus Luxembourg’s significant mobile operations, conducted under the Tango and Proximus NXT brands. Proximus Luxembourg will remain an anchor tenant on the respective sites under a long-term master service agreement.
InfraRed intends to support the further growth of PLI as the leading independent telecommunications infrastructure business in Luxembourg. The company’s experienced management team will remain on board, leveraging their deep understanding of the Luxembourg market to grow the tower portfolio further in response to customer requirements and evolving demands.
Dulce Mendonça, Fund Manager of EIIF4, said: “This transaction exemplifies the EIIF4 strategy of investing in European core infrastructure assets with resilient, long-term cash flows – which will be underpinned by a strong counterpart in Proximus Group. Additionally, we anticipate opportunities for development where we can bring our expertise in digital infrastructure investments to bear, further supporting critical telecom services across Luxembourg.”
ENDS
* The final transaction amount is dependent on the date that it is completed.
About InfraRed Capital Partners
InfraRed Capital Partners is an international infrastructure asset manager, with more than 160 professionals operating worldwide from offices in London, Madrid, New York, Sydney and Seoul. Over the past 25 years, InfraRed has established itself as a highly successful developer and steward of infrastructure assets that play a vital role in supporting communities. InfraRed manages US$13bn of equity capital [1] for investors around the globe, in listed and private funds across both core and value-add strategies.
A long-term sustainability-led mindset is integral to how InfraRed operates as it aims to achieve lasting, positive impacts and deliver on its vision of Creating Better Futures. InfraRed is a signatory of the Principles of Responsible Investment (PRI) [2], a member of the Net Zero Asset Manager’s Initiative, and is a TCFD supporter.
InfraRed is part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. InfraRed represents the infrastructure equity arm of SLC Management, which also incorporates BGO, a global real estate investment management adviser, and Crescent Capital, a global alternative credit investment asset manager.
For more information, please visit www.ircp.com.
[1] Uses 5-year average FX as at 31st March 2024 of GBP/USD of 1.2839; EUR/USD 1.1179. EUM is USD 12.927m
[2] Information on the Principles for Responsible Investment (“PRI”) ratings are available at https://www.unpri.org/about-the-pri
