Funds

23 funds across two vintages, spanning the full telecom infrastructure stack.

Fifteen investment funds covering distinct infrastructure sectors, four operations funds capitalizing platform and technology infrastructure, and four reserve funds providing follow-on capital and LP liquidity capacity — organized across the 2026 and 2028 fund vintages.

Investment Fund Capital
$25.592B
Across fifteen investment fund vehicles
Platform Capital (All-in)
$36.560B
Including operations and reserve funds — 23 funds
2026 Vintage

12 funds. The founding vintage.

2026 Vintage Capital
$21.506B
12 funds
Investment Funds

Eight investment funds. Distinct mandates. Discrete general partner entities.

2028 Vintage

11 funds. The second vintage.

2028 Vintage Capital
$15.054B
11 funds
Investment Funds

Seven investment funds. Distinct mandates. Discrete general partner entities.

Core I$1.581B

Stabilized, income-producing assets with low leverage.

Stabilized, income-producing telecom infrastructure assets acquired with conservative, low-leverage capital structures.

Target Net IRR 13-18%Explore fund →
Core II$1.581B

Stabilized, income-producing assets with low leverage.

A second core income vehicle targeting stabilized telecom infrastructure assets with conservative leverage and contracted cash flows.

Target Net IRR 13-18%Explore fund →
Core-Plus$1.054B

Stabilized assets with light value-add and modest leverage.

Stabilized telecom infrastructure assets paired with light value-add improvement plans and modest leverage.

Target Net IRR 13-18%Explore fund →
Value-Add$1.581B

Repositioning, operational improvement, moderate risk.

Repositioning and operational improvement programs across telecom infrastructure assets carrying moderate execution risk.

Target Net IRR 13-18%Explore fund →
Growth$1.581B

Growth equity into scaling operators and platforms.

Growth equity capital deployed into scaling telecom infrastructure operators and platform businesses.

Target Net IRR 13-18%Explore fund →
Opportunistic$2.108B

Higher-risk development, distressed, and high-return situations.

Ground-up development, distressed acquisitions, and other high-return telecom infrastructure opportunities.

Target Net IRR 13-18%Explore fund →
Special Situations$1.054B

Complex, dislocated, and event-driven investments.

Complex, dislocated, and event-driven telecom infrastructure investments requiring bespoke structuring.

Target Net IRR 13-18%Explore fund →
Fund Terms

Institutional Delaware LP structure across every vehicle.

15+2
Year term (yrs)
8%
LP preferred return
20%
Carried interest
$10M
LP minimum

European whole-fund waterfall. 100% GP catch-up. Delaware Limited Partnership.