Diamond Communications Holdings, a privately held wireless infrastructure company, has announced that John Hancock and its affiliates have acquired a minority stake in the company.
The stake was acquired by the John Hancock Infrastructure Fund (JHIF) and John Hancock Life Insurance Company, a division of Manulife Financial Corporation. JHIF, a private equity fund with $2 billion of committed capital, is managed by John Hancock’s Power & Infrastructure Group, and is part of Manulife Private Markets.
“We are excited to have John Hancock join us as an investor,” said Ed Farscht, Diamond’s CEO. “John Hancock’s investment in Diamond creates a significant growth opportunity for our company. John Hancock has significant experience in the telecommunications wireless infrastructure industry and provides Diamond with a strong institutional investor allowing Diamond to deploy additional capital in the future. We take great care in choosing our business partners and are proud to be working with John Hancock as well as our other partners, including Oz Real Estate.”
“We are pleased to expand our telecommunications infrastructure platform with an investment in Diamond,” said Recep Kendircioglu, Portfolio Manager of JHIF and the Head of John Hancock’s Power and Infrastructure Group. “The Diamond management team has done an excellent job of creating a portfolio of attractive wireless infrastructure assets.”
John Hancock was advised by TAP Advisors LLC and Paul, Weiss, Rifkind, Wharton & Garrison LLP. Diamond was advised by Morgan, Lewis & Bockius LLP.