UniSuper snares $1b stake in Europe’s Vantage Towers

UniSuper hopes to capitalise on soaring demand for digital data after spending $1 billion to take a 5 per cent stake in Dusseldorf-headquartered telecommunications infrastructure group Vantage Towers.The Australian Financial Review

UniSuper expects demand for European telecommunications sites that transmit voice and data signals will keep rising.Vantage Towers was formerly part of British telecommunications company Vodafone but was spun out in 2020. It listed on the Frankfurt Stock Exchange in 2021 at €24 per share, with Vodafone retaining a stake of almost 82 per cent.

UniSuper is the only Australian super fund that will be part of the consortium, which will collectively acquire up to half of Oak Holdings and has received financing from Saudi Arabia’s Public Investment Fund. The funds have cited the development of autonomous driving, telemedicine, and virtual reality as among the trends supporting demand for data services.Demand for data was increasing as people “expected more” from their telecommunications carriers, Ms Lee said. “You want to be able to download and stream the movies while you’re in the train or walking around,” she said. “We just want to play that whole thematic via this particular space.

“We’ve seen this shift now from deal originators to the allocators of capital,” she said. “We’re sitting on a fair amount of dry powder, or cash, and we are obviously looking at quite a few investments across various infrastructure sectors.”The group, which has a stake in New Zealand’s Taumata Plantations, is in process of closing another significant forestry investment, Ms Lee said.

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