Canada's La Caisse has acquired a 24% stake in Altius Telecom Infrastructure Trust for about Rs121bn ($1.28bn), investing alongside Brookfield in what the companies said is India’s largest independent telecom tower platform.

The transaction leaves Brookfield as Altius’ largest investor. Existing shareholders affiliated with GIC and British Columbia Investment Management Corporation also remain invested.

Altius owns and operates more than 258,000 telecom towers and sites across India, giving it a nationwide footprint.

The platform provides infrastructure used by mobile network operators to deliver 4G and 5G services.

The investment comes as India’s telecom market continues to expand, driven by rising mobile data consumption and the rollout of 5G services, La Caisse said.

It added that India is the world’s second-largest telecommunications market, increasing demand for digital infrastructure assets such as towers and related network facilities.

La Caisse executive vice-president and head of infrastructure and sustainability Emmanuel Jaclot said: “As India’s economy grows and more people and businesses rely on higher use of mobile data, the infrastructure behind those connections needs to keep pace.

“This is a sector we know well through our investments in telecom towers and digital infrastructure around the world. With Altius, we are investing in an attractive market through an established platform, alongside Brookfield and other institutional partners with whom we have longstanding relationships.”

Brookfield said the deal adds another long-term institutional investor to the platform as it prepares for further growth.

Brookfield infrastructure group CEO Sam Pollock said: “Altius has built a scaled, nationwide platform that is in a leading position to meet India’s demand for mobile connectivity and 5G infrastructure.

“La Caisse’s investment brings another long-term institutional partner to the platform and reflects confidence in the strength of the business. Alongside our partners, we will continue to support Altius’ next phase of growth by deploying our owner-operator capabilities and disciplined, long-term approach to infrastructure investing.”

La Caisse was formerly known as CDPQ. As of 30 June 2026, the Montréal-based investment group held C$552bn ($378.43bn) in net assets.