Milbank LLP advised Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”), one of the world’s largest pension plans with C$247 billion in net assets, on its strategic partnership with Diamond Communications (“Diamond”) to grow its digital communications infrastructure.
Ontario Teachers’ has acquired a significant equity ownership position in Diamond, joining existing institutional investors including Sculptor Real Estate and Manulife Investment Management. Ontario Teachers’ has significant experience investing in digital infrastructure worldwide, including a recent investment in New Zealand mobile towers and infrastructure business Connexa and an agreement to acquire new and existing cell phone towers from telecommunications provider 2Degrees Mobile in December of last year.
Diamond, a leading wireless infrastructure provider supporting high-quality communications and connectivity, is one of the largest privately held U.S. wireless communications infrastructure platforms with over 4,000 owned and managed tenanted sites and over 300,000 managed properties across the country.
The Milbank team was led by Global Corporate/M&A partners John D. Franchini and Aaron Stine along with special counsel Ross Shepard and associate Bobby Sommers. The team also included, among others, Transportation and Space partner Patrick Campbell and associates Darren Fernandez, Brian Murff and Ethan Heben; and Tax partners Max Goodman and Andrew Walker and associate Michael Rivkin.
