Ares Management is leading a $2bn debt facility for Phoenix Tower International (PTI), as part of a broader $6.5bn financing package designed to refinance the telecom infrastructure operator’s existing debt and fund its continued expansion, according to a report by Bloomberg.
The financing brings together multiple lenders, with Ares providing the largest disclosed portion of the package. The overall transaction is the biggest financing of its kind for a privately held tower company, according to PTI chief financial officer Michael Bremer.
PTI, headquartered in Boca Raton, Florida, owns and operates more than 33,000 wireless sites across 23 countries. The company provides infrastructure used by wireless operators and has expanded its international footprint through acquisitions and strategic investments.
Blackstone acquired a 35% stake in PTI from Manulife Investment Management in 2022. Grain Management and BlackRock subsequently made a strategic investment in the business in 2024 as PTI pursued further international growth.
Ares’ infrastructure business had $29.9bn in assets under management as of 30 June 2026, according to the company.
