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Fengate Secures Equity Investment on Partnership with TowerCom

By CIOReview | Thursday, September 17, 2020

Fengate Asset Management closed an equity investment and future commitment portfolio of multi-tenant wireless communications.

FREMONT, CA: Fengate Asset Management (Fengate) announces today that its infrastructure team has closed an equity investment and future commitment to a portfolio of built-to-suit multi-tenant wireless communications towers managed by TowerCom, a forerunning communications tower developer and owner focused on some of the fastest-growing wireless markets in the United States.

Fengate's partnership with TowerCom builds on Fengate's track record with critical infrastructure across North America, and the company is pleased to expand its platform with the rapidly evolving wireless industry. The company has best-in-class partners with the TowerCom team. This represents Fengate's first investment in digital infrastructure, which rapidly emerging as a strategic asset class for infrastructure investors. This offers both visibility into a portfolio of existing towers and an opportunity to capitalize on wireless carrier investment in built-to-suit programs driven by 4G in-fill and new 5G rollouts and consumer demand for increased data usage and coverage.

Fengate is capitalizing alongside Boston-based M/C Partners which allows TowerCom to continue to execute on its successful tower deployment plan across the United States on behalf of national and local wireless carriers. Fengate is handling this investment on behalf of the Fengate Core Infrastructure Fund III and its related entities, including an investment fund round by LiUNA's Pension Fund of Central and Eastern Canada.

Fengate is a pioneering alternative investment manager focused on infrastructure, private equity and real estate strategies. The company has offices in Toronto and Oakville, Ontario, and Houston, Texas. Fengate is one of the most active real asset investors in North America, and the firm has been investing in infrastructure across North America since 2006.