India's Tower Vision raises funding from Quadrangle

Delhi-based telecommunications tower management company Tower Vision has raised $300 million of capital through private equity and debt to finance its expansion needs.

Tower Vision is the second-largest tower management company in India with more than 5,000 sites spread across 14 telecom circles. It is an independent tower management company, not supported by a telecom services provider. It began operating in 2006.

The private equity investment is led by Quadrangle Capital Partners. Quadrangle, which currently has around $3 billion of assets under management, focuses on companies in the media and communication sectors. It seeks to invest between $100 million and $250 million in each of its investee companies. Quadrangle opened shop in Asia in...