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Tillman Infrastructure

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tillmaninfrastructure.com

Founded Year

2016

Stage

Private Equity | Alive

Total Raised

$500M

About Tillman Infrastructure

Tillman Infrastructure is a developer and owner of telecommunication tower infrastructure. Tillman builds, owns, and operates a portfolio of cell towers, which are core infrastructure assets used by wireless carriers to relay their cellular signals to mobile subscribers.

Headquarters Location

New York, New York,

United States

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Latest Tillman Infrastructure News

Carlyle's Joshua Pang just wrapped up a $1 billion partnership in the digital-infrastructure space. Pang is enjoying a flurry of activity in the space amid a record year for private M&A activity in telecoms and data centers.

Sep 2, 2022

Joshua Pang, managing director, Carlyle Carlyle Redeem now Insider's Banker of the Week series appears in our weekday newsletter, 10 Things on Wall Street . This week we're highlighting Joshua Pang, a managing director at Carlyle, who has just inked a $1 billion partnership with Tillman Global. Pang joined Carlyle in May last year from rival investment firm Blackstone. He's already completed multiple investments in digital infrastructure including the acquisition of data-center operator Involta. Sign up for our newsletter to get the latest stories in hedge funds, PE, fintech, and banking — delivered daily to your inbox. Loading Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy . For Joshua Pang, the idea of connecting to the internet was more than simply opening a web browser. He always wanted to stay "very close" to not just what is happening on the internet, but to get in the weeds regarding the infrastructure of being online. During his freshman year of high school, Pang took an unpaid internship at conglomerate Danaher, where he worked on early versions of cloud-based computer programming and digital infrastructure. So it's poetic that during an interview with Insider, Pang proudly revealed a copy of "Cable Cowboy," the Mark Robichaux book on Liberty Media founder John Malone. Liberty's business now stretches across various platforms from Formula One to Sirius XM. Its roots, however, lie in cable television, telecommunications, and the internet. "'Cable Cowboy' was the book I got from my first mentor when I was a junior analyst at Blackstone," Pang said. "It was so much better than getting a 10-K, research report, and being told to just go crunch numbers and build a financial model." Pang — who grew up in Portland, Oregon — is now a managing director at Carlyle. He leads the investment firm's digital-infrastructure team, and he's just wrapped up another deal in the telecommunications and data-center space. The Carlyle MD helped ink a partnership with Tillman Global — which controls Tillman Infrastructure — to invest up to $1 billion in US towers. This follows up the firm's agreement to buy Involta last December. Involta operates 12 data centers and a fiber network that stretches more than 19,000 kilometers. Pang's efforts are demonstrative of a broader trend across private equity. Approximately $42 billion worth of transactions have been done in the data-center business this year, well ahead of last year's $28 billion, and beating the near $37 billion record from 2013, according to PitchBook. In late August, an investor group led by Swiss Life Asset Management paid $1.5 billion for a 35% stake in Dallas-based DataBank, while DigitalBridge Group and Equinix were shortlisted into a final round of talks to buy the data-center business owned by Malaysia's Time Dotcom, Bloomberg reported . This flurry of deal-making comes after KKR and Global Infrastructure Partners wrapped up a whopping $15 billion take-private deal for data-center operator CyrusOne in March. "Market demand is supported by robust trends in the US mobile communications, data proliferation, and cloud computing like the use of Zoom calls," Pang said. "People love using the internet." Narrowing the 'digital divide' That thirst for connectivity, however, can be harder to quench in remote parts of the country. While New Yorkers enjoy lightning-fast internet, smaller cities require billions-of-dollars of investment to bring modern telecommunications infrastructure to their doorsteps. And for Pang, this infrastructure divide lies at the heart of the partnership with Tillman and the acquisition of Involta. "It takes so many dollars to actually upgrade this infrastructure and that will take time to effectively get everywhere," he said. The team at Carlyle wants to invest in underserved markets that lack what Pang called "premium infrastructure." Involta's data centers, for example, serve hospital systems, which sometimes have some of the country's oldest infrastructure, Pang added. "These deals are focused on providing essential internet and connectivity to narrow the digital divide," he said. "That means investing in rural, sparse markets, where there is a supply and demand imbalance." Carlyle has committed more than $2.5 billion in capital toward infrastructure investments in the last 18 months. The group — which fits within Carlyle's global private-equity division — has roughly $13 billion in assets under management, up from $5 billion last year. To be sure, that uptick in AUM was helped by Carlyle combining its infrastructure business with its energy-investment arm in May. Pang joined the investment firm in May last year from Blackstone. Sign up for notifications from Insider! Stay up to date with what you want to know. Subscribe to push notifications

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Tillman Infrastructure Frequently Asked Questions (FAQ)

  • When was Tillman Infrastructure founded?

    Tillman Infrastructure was founded in 2016.

  • Where is Tillman Infrastructure's headquarters?

    Tillman Infrastructure's headquarters is located at New York.

  • What is Tillman Infrastructure's latest funding round?

    Tillman Infrastructure's latest funding round is Private Equity.

  • How much did Tillman Infrastructure raise?

    Tillman Infrastructure raised a total of $500M.

  • Who are the investors of Tillman Infrastructure?

    Investors of Tillman Infrastructure include UBS Asset Management, Caisse de depot et placement du Quebec and AMP Capital Investors.

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