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EQT infrastructure fund makes first acquisition

The EQT Active Core Infrastructure fund, together with the Public Sector Pension Investment Board, has agreed to acquire Radius Global Infrastructure in a transaction with a total enterprise value of $3 billion.

The EQT Active Core Infrastructure fund, together with the Public Sector Pension Investment Board (PSP), has agreed to acquire Radius Global Infrastructure (Radius) in a transaction with a total enterprise value of $3 billion.

The deal, which is expected to close in the third quarter of 2023, is EQT Active Core Infrastructure’s first acquisition, which means that the fund has now started charging management fees, based on net invested capital. 

Under the terms of the agreement, shareholders of Radius, which owns and acquires digital infrastructure including ground, tower, rooftop and in-building cell sites in over 20 countries across North and South America, Europe, and Australia, will receive $15.00 per share.

Radius’ portfolio of approximately 9,000 leases across nearly 7,000 sites serves more than 200 customers. The Company achieved $157.6 million in annualised in-place Rents as of the end of 2022.

Morgan Stanley & Co LLC served as financial advisor and Simpson Thacher & Bartlett LLP as legal advisor to EQT Active Core Infrastructure. Evercore served as financial advisor and Weil, Gotshall & Manges LLP as legal advisor to PSP Investments.
 

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