US private equity company to invest $100 million in wireless infrastructure

28 October 2013 | Kavit Majithia

US private equity company KKR & Co is to invest $100 million in three wireless infrastructure companies managed by Associated Partners LP.

According to the Wall Street Journal, KKR will make minority investments in PEG Bandwidth, AP Wireless and AP Towers, as the demands for data services continues to evolve in the market.

It is thought KKR is looking to invest in companies that are catering to wireless data demands from consumers and businesses in wireless infrastructure, with the need for more assets and upgrades of legacy communications networks in the market.

"The need for wireless infrastructure will continue to be driven by increases in wireless data usage that are overwhelming existing network capacity," said Raj Agrawal, KKR's head of North American infrastructure. "We are excited about the opportunity to partner with Associated Partners to grow this premier set of businesses with critical telecom infrastructure assets."

“Wireless communication networks are an essential component of the nation's infrastructure," added Scott Bruce, managing director of Associated Partners. "We are excited to have KKR partner with us as we expand our businesses."

KKR’s plan represents the company’s 11th infrastructure investment across a range of sectors.

The deal is expected to be officially announced later today.