Development Partners International’s (DPI) portfolio company Eaton Towers has received $150 million from Capital International Incorporated (CII).
Eaton Towers is a London-based DPI telecommunications company that primarily generates revenues from its tower-sharing business in Africa. The new funding will enable Eaton Towers to buy additional tower portfolios from operators and build new towers on which it will sell co-location and shared-infrastructure facilities to mobile operators.
CII structured the deal through its Capital International Private Equity Funds (CIPEF). The private equity funds have invested approximately $3bn in equity in more than 75 emerging market companies since 1992.
DPI first backed Eaton Towers in 2009, when it acquired a majority stake in the business.