UBS Asset Management Makes Strategic Minority Investment in Tillman Infrastructure to Accelerate U.S. Tower Rollout

October 29, 2020

NEW YORK--(BUSINESS WIRE)--Funds managed by UBS Asset Management (UBS-AM) on behalf of a large US pension plan have made a strategic minority investment in Tillman Infrastructure (Tillman), a leading developer and owner of telecommunication tower infrastructure throughout North America. This investment enables Tillman to accelerate its rollout plans to meet the mobile network operator’s demand for thousands of new telecommunication towers over the next few years.

Founded in 2016 and based in New York, Tillman builds, acquires, owns and operates a portfolio of nearly 1,000 cell towers with over 1,250 more sites under various stages of development. Tillman is one of the largest tower builders in the US and tenants on Tillman sites include all major carriers including AT&T, Verizon, and T-Mobile, as well as regional carriers and Wireless Internet Service Providers (WISPs).

Perry Offutt, Head of Infrastructure Americas at UBS-AM, said: "Over the last few years, Tillman Infrastructure has built an impressive US cell tower platform. We consider this an opportune time to secure exposure to a sector that has proven its resilience. On behalf of our UBS-managed account with a large US pension plan, we are proud to join the other investors in Tillman to support the company’s continued strong growth."

Tillman Infrastructure President and Chief Financial Officer, Suruchi Ahuja, said: "We are fortunate to have the support of several marquee financial partners and are excited to add UBS-AM as the latest investor into Tillman Infrastructure. We have a significant pipeline of tower sites under development and we are better financially prepared now than ever to meet the continued demand that we are seeing from the mobile operators and WISPs. We continue to focus on being a true partner to our customers as they focus on expanding their coverage and capacity across the nation."

Morgan Stanley & Co. LLC acted as the exclusive placement agent to Tillman. Sullivan & Cromwell LLP acted as legal counsel to Tillman, and White & Case LLP acted as legal counsel for UBS-AM.


Tillman Infrastructure (TI) is a rapidly growing cellular tower and telecom infrastructure company, which owns and builds assets across the United States. Tillman provides both the financial capability and operational expertise to rapidly build and manage many thousands of sites nationwide. Tillman Infrastructure is a subsidiary of Tillman Global Holdings (TGH), a global holding company focused on long-term value. TGH is an investor, owner and operator of digital infrastructure assets. For more information, visit


UBS Asset Management's Real Estate & Private Markets business is one of the largest asset managers in real assets worldwide, currently managing around USD 114 billion globally. Real Estate & Private Markets Direct Infrastructure platform invests globally across the key infrastructure sectors including energy, utilities, transportation, telecommunications and social infrastructure. Established in 2007, its dedicated team of specialists operates out of five international offices and manages over USD 5 billion in institutional client commitments.


Maral Hosdaghian
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