By Yantoultra Ngui

SINGAPORE, June 9 (Reuters) - Global investment firm KKR

said on Monday that British Columbia Investment Management Corp

(BCI) will acquire a minority stake in Pinnacle Towers, an

Asia-based digital infrastructure platform with a focus on the

Philippines, from KKR.

KKR said in a statement that it would remain the majority

shareholder. It did not disclose the financial details of the

transaction, which is expected to be completed by the third

quarter of 2025, subject to regulatory approvals.

BCI is a Canadian-based institutional investor with

C$250.4 billion ($183.01 billion) in gross assets under

management as of March 31, 2024. It manages investments on

behalf of the British Columbia pension fund and institutional

clients.

"The Philippines represents a compelling market for

long-term capital, especially in essential digital

infrastructure services," Lincoln Webb, executive vice president

and global head of infrastructure and renewable resources at

BCI, said in the statement.

BCI's infrastructure and renewable resources is a global

portfolio with nine active investments in the Asia-Pacific

region, including communications tower companies Rakuten Mobile

and Altius, the statement said.

Established in 2020, Pinnacle Towers has grown to become

the largest independent tower company in the Philippines with

around 7,000 towers, it added.

U.S-based KKR first invested in Pinnacle Towers in 2021,

according to its website. KKR said in Monday's statement that it

made its investment in Pinnacle Towers from its Asia

Infrastructure Funds I and II.

KKR's Asia Pacific infrastructure platform was

established in 2019 and now has about $13 billion in assets

under management.

($1 = 1.3682 Canadian dollars)