Vertical Bridge Announces $1.5 billion Strategic Equity Investment from KKR

Vertical Bridge REIT, LLC (“Vertical Bridge” or the “Company”), the largest private owner and operator of communications infrastructure in the United States, and leading global investment firm KKR today announced that KKR will make a $1.5 billion equity investment in the Company to support its future growth.

The addition of KKR as a new investor establishes a fully funded, long-term capital structure that supports Vertical Bridge’s strategic plan and reinforces the Company’s position as a permanent owner and operator of a nationwide portfolio of more than 17,000 towers.

“This transaction provides us with the resources to continue developing our portfolio at scale while maintaining our disciplined, returns-focused approach to capital deployment,” said Ron Bizick, President and CEO of Vertical Bridge. “We are pleased to have KKR as an experienced, long-term investor as we expand our platform, advance organic development, and selectively pursue M&A opportunities that strengthen our portfolio, while continuing to deliver the agile, customer-focused approach that defines Vertical Bridge.”

“The convergence of 5G densification, edge compute, and surging data demand is creating a structural need for more and better located wireless infrastructure,” said Waldemar Szlezak, Global Head of Digital Infrastructure at KKR. “Vertical Bridge has built a scaled, high-quality tower platform with a strong track record of execution and a differentiated, partnership-oriented approach, all underpinned by a best-in-class management team. This investment builds upon KKR’s foundation as a leading investor in mission-critical digital infrastructure, and we look forward to supporting the company’s next phase of growth.”

To date, KKR has invested more than $40 billion in equity in digital infrastructure globally. This investment builds on KKR’s existing tower portfolio including Vantage Towers in Europe and Pinnacle Towers in the Philippines, and on past investments such as Telxius and Hivory Towers. KKR is funding its investment primarily through its core infrastructure strategy.

Vertical Bridge’s existing sponsors, DigitalBridge and La Caisse, also participated in the equity investment and remain committed long-term partners to the Company.
“DigitalBridge is proud to continue supporting Vertical Bridge alongside our long-standing investment partner La Caisse and now KKR,” said Marc Ganzi, CEO of DigitalBridge.

“Vertical Bridge’s disciplined growth strategy, operational excellence, and focus on partnership have consistently positioned the company to meet increasing demand for communications infrastructure. We remain confident in the platform and committed to supporting the team as they continue to scale.”

“Vertical Bridge has experienced phenomenal growth these last few years both organically and through acquisitions, reaching a high level of scale and operating maturity,” said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure and Sustainability at La Caisse. “Since our initial investment alongside DigitalBridge, the company has consistently executed through market cycles, and the addition of a strategic partner like KKR reinforces a capital base built for the long term and aligned with the needs of critical connectivity infrastructure.”

Advisors and Financial Sponsors

Centerview Partners LLC served as exclusive financial advisor to Vertical Bridge, and Simpson Thacher & Bartlett LLP served as Vertical Bridge’s legal advisor. Barclays and Houlihan Lokey served as financial advisors to KKR, and Kirkland & Ellis LLP served as KKR’s legal advisor.

About Vertical Bridge

Vertical Bridge REIT, LLC, is the largest private owner and operator of wireless communications infrastructure in the United States and has a nationwide portfolio of over 17,000 towers. The company provides build-to-suit and colocation solutions to the telecommunications industry.
In 2020, Vertical Bridge became the first tower company in the world to achieve the CarbonNeutral® company certified status and has been recertified every year since. For more information, please visit www.verticalbridge.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit, and real assets, and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR),please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About DigitalBridge

DigitalBridge (NYSE: DBRG) is a leading global alternative asset manager dedicated to investing in digital infrastructure. With a heritage of more than 30 years investing in and operating businesses across the digital ecosystem, including cell towers, data centers, fiber, small cells, and edge infrastructure, DigitalBridge manages infrastructure assets on behalf of its limited partners and shareholders. The firm is headquartered in Boca Raton, Florida, with offices across North America, Europe, the Middle East, and Asia. For more information, visit www.digitalbridge.com.

About La Caisse

At La Caisse, formerly CDPQ, we have been investing for 60 years with a dual mandate: generate optimal long-term returns for our 48 depositors, who represent over 6 million Quebecers, and contribute to Québec’s economic development.
As a global investment group, we are active in the major financial markets, private equity, infrastructure, real estate, and private credit. As at December 31, 2025, La Caisse’s net assets totaled CA$517 billion. For more information, visit lacaisse.com or consult our LinkedIn or Instagram pages.

La Caisse is a registered trademark of La Caisse de dépôt et placement du Québec that is protected in Canada and other jurisdictions and licensed for use by its subsidiaries.

Media:

Vertical Bridge REIT, LLC
JSA 1-866-695-3629 jsa_vb@jsa.net

KKR
Liidia Liuksila
Media@KKR.com

DigitalBridge

Joele Frank, Wilkinson Brimmer Katcher

1-212-355-4449

dbrg-jf@joelefrank.com

La Caisse
Conrad Harrington
1-514-847-5493
charrington@lacaisse.com