Ares Management Corp. and Apollo Global Management are leading a $6.5 billion debt package for Phoenix Tower International, a Florida-based telecom tower operator. Ares is providing approximately $2 billion, while Apollo and its affiliate Apterra Infrastructure Capital committed $1.8 billion. This financing consolidates the company's existing loans and supports its growth, marking the largest of its kind for a privately held tower company, according to CFO Michael Bremer.
Headquartered in Boca Raton, Florida, Phoenix Tower International operates over 33,000 wireless sites across 23 countries. In 2022, Blackstone Inc. acquired a 35% stake from Manulife Investment Management, and Grain Management and Black Rock Inc. made a strategic investment two years later. Ares’ infrastructure business reported $29.9 billion in assets under management as of June 30, 2026.
Spokespeople for both firms declined to comment on the deal.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing