Stonepeak, an alternative investment firm focused on infrastructure and real assets, has acquired 2,180 telecom towers and related passive infrastructure from Globe Telecom Inc., for a total consideration of $472.2 million.

The purchase was made through Miescor Infrastructure Development Corp., a joint venture between Stonepeak and Meralco Industrial Engineering Services Corp.

“We are delighted to partner with MIESCOR and the MIDC team on this exciting opportunity with Globe,” said Stonepeak senior managing director and head of Asia and the Middle East, Hajir Naghdy. “This transaction is a great fit for our Asia Infrastructure strategy, which targets investments across energy transition, transportation and logistics, and communications and digital infrastructure, and represents a significant milestone for our growing Asia Pacific business.”