UniSuper → Vantage Towers (5% indirect stake)
completedAustralian superannuation fund UniSuper invested A$1 billion for an indirect 5% shareholding in European mobile towers business Vantage Towers, joining a consortium alongside KKR and Global Infrastructure Partners which jointly hold Vodafone's majority stake in the company. This was UniSuper's first direct European infrastructure investment.
UniSuper described the deal as a high-quality defensive infrastructure investment with strong fundamentals and growth prospects, driven by expected growth in data demand, and complementary to its existing airport and toll-road infrastructure holdings.
Not applicable — UniSuper acquired its stake by joining the existing KKR/Global Infrastructure Partners consortium rather than buying from a distressed or actively marketing seller.
Not applicable — Vantage Towers and UniSuper are not both listed entities relevant to this transaction.
Deal mechanics
Morgan Stanley (financial) and Latham & Watkins (legal) advised the KKR/GIP consortium UniSuper joined
Indirect 5% equity stake acquired via consortium alongside KKR and Global Infrastructure Partners
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