GP Investments Announces the Creation of BR Towers (Latin America)

Source: GP Investments

Brazil-based alternative asset investment firm GP Investments will acquire approximately 2,000 mobile telephone towers from an unnamed Brazilian telecom operator for BRL503 million (approximately US$250 million). The towers will be operated by a newly created tower management company, BR Towers. The investment will be made through GP Investments’ private equity fund GP Capital Partners V, with a total capital commitment of at least US$90 million. GP Investments will seek local or foreign co-investors for the transaction.