Deal Overview

Canadian pension fund La Caisse has acquired a 24 per cent stake in Altius Telecom Infrastructure Trust, India's largest independent telecom tower platform, for approximately ₹12,100 crore (CAD 1.76 billion), according to statements from the companies involved.

The transaction was announced on September 2, 2026, with La Caisse, formerly known as CDPQ, and Brookfield jointly confirming the investment. The deal adds La Caisse to a shareholder roster that includes Brookfield, which remains Altius' largest investor, alongside existing shareholders that are affiliates of GIC and British Columbia Investment Management Corporation (BCI).

The Platform

Altius Telecom Infrastructure Trust, formerly Data Infrastructure Trust, is a Sebi-registered infrastructure investment trust (InvIT) that provides passive telecom infrastructure services in India. The trust owns and operates more than 258,000 telecom towers and sites across the country, supporting the infrastructure that mobile operators use to deliver 4G and 5G services.

Executive Statements

Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure and Sustainability at La Caisse, commented on the rationale behind the investment: "As India's economy grows and more people and businesses rely on higher use of mobile data, the infrastructure behind those connections needs to keep pace. This is a sector we know well through our investments in telecom towers and digital infrastructure around the world. With Altius, we are investing in an attractive market through an established platform, alongside Brookfield and other institutional partners with whom we have longstanding relationships."

Sam Pollock, CEO of Brookfield's Infrastructure group, welcomed the new partnership, saying: "La Caisse's investment brings another long-term institutional partner to the platform and reflects confidence in the strength of the business. Alongside our partners, we will continue to support Altius' next phase of growth by deploying our owner-operator capabilities and disciplined, long-term approach to infrastructure investing."

Analyst Perspective

Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, described the investment as "a strong endorsement of India's telecom and digital-infrastructure growth story," noting that with Brookfield continuing as the largest investor, the deal brings "powerful long-term institutional capital" behind Altius' tower platform.