Market Overview

Blackstone to Partner with John Hancock in Phoenix Tower International


Blackstone (NYSE:BX) today announced that funds managed by Blackstone
Tactical Opportunities ("Tac Opps") have agreed to sell a minority stake
in Phoenix Tower International ("PTI") to John Hancock.

The stake was acquired by John Hancock Life Insurance Company (U.S.A.)
("JHUSA") and the John Hancock Infrastructure Fund, GP ("JHIF"). JHIF, a
private equity fund with approximately $2 billion of committed capital,
is managed by the Power & Infrastructure team.

"Providing growth capital to outstanding management teams is a hallmark
of Blackstone's investments in the mobile and internet infrastructure
sector," said Jasvinder Khaira, a Senior Managing Director in
Blackstone's Tactical Opportunities Group. "The exceptional growth of
PTI has made it the leading private tower company in the Americas and we
are thrilled to have John Hancock join us as partners as we continue to
grow the business."

"We are pleased to expand our telecommunications infrastructure platform
with an investment in PTI," said Recep Kendircioglu, Senior Managing
Director of the John Hancock Power and Infrastructure Group and
Portfolio Manager of JHIF, an infrastructure Fund on Manulife's Private
Markets platform. "We have confidence in the future of the telecom
infrastructure space, PTI's management team and are pleased to work with
Blackstone's Tactical Opportunities Group to the benefit of our

Dagan Kasavana, PTI's CEO, said, "I am incredibly proud to have
Blackstone and John Hancock as PTI's investors. The powerful combination
of these two firms provides PTI with the support it needs to continue
deploying capital globally."

Tim Culver, PTI's Chairman, said: "Both Blackstone and John Hancock are
partners that share PTI's values and vision to position PTI as the
leading wireless infrastructure platform to serve our customers,
employees and business partners."

PTI is the fastest growing wireless tower operator in the Americas and a
market leader in all its operating markets. The company was founded in
2013 by Dagan Kasavana, with a mission to own and operate high quality
wireless infrastructure assets in global markets experiencing strong
growth. Blackstone Tactical Opportunities invested in PTI in 2014. With
120 employees and headquartered in Boca Raton, FL, PTI manages over
3,500 owned sites (including sites under contract), over 2,500 managed
sites under marketing rights agreements and 974 km of fiber in 10

Blackstone was advised by Guggenheim Securities and Akin Gump Strauss
Hauer & Feld LLP. John Hancock was advised by TAP Advisors LLC and Paul,
Weiss, Rifkind, Wharton & Garrison LLP.

About Blackstone

Blackstone is one of the world's leading investment firms. We seek to
create positive economic impact and long-term value for our investors,
the companies we invest in, and the communities in which we work. We do
this by using extraordinary people and flexible capital to help
companies solve problems. Our asset management businesses, with $440
billion in assets under management, include investment vehicles focused
on private equity, real estate, public debt and equity, non-investment
grade credit, real assets and secondary funds, all on a global basis.
Further information is available at
Follow Blackstone on Twitter @Blackstone.

About Tactical Opportunities

Tac Opps is Blackstone's opportunistic investment platform. The Tac Opps
team invests globally across asset classes, industries and geographies,
seeking to identify and execute on attractive, differentiated investment
opportunities. As part of the strategy, the team leverages the
intellectual capital across Blackstone's various businesses while
continuously optimizing its approach in the face of ever-changing market

About John Hancock and Manulife

John Hancock is a division of Manulife Financial Corporation, a leading
international financial services group that helps people make their
decisions easier and lives better. We operate primarily as John Hancock
in the United States, and Manulife elsewhere. We provide financial
advice, insurance and wealth and asset management solutions for
individuals, groups and institutions. Assets under management and
administration by Manulife and its subsidiaries were over $1.1 trillion
(US$850 billion) as of March 31, 2018. Manulife Financial Corporation
trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK.
Manulife can be found at
One of the largest life insurers in the United States, John Hancock
supports approximately 10.7 million Americans with a broad range of
financial products, including life
, annuities,
, and college
savings plans
. We also offer advice through Signator, a network of
independent financial advisors. Additional information about John
Hancock may be found at

About Manulife Private Markets

Manulife's Private Markets platform offers long term solutions for our
clients by leveraging our expertise across private equity and fixed
income, real estate and infrastructure equity and debt, timberland and
farmland, oil and gas, and mezzanine debt. As at March 31, 2018,
Manulife's assets under management in private asset classes were C$119
billion (US$92 billion), including assets managed for clients and
Manulife's general fund. Additional information may be found at

Manulife and John Hancock offer comprehensive wealth and asset
management solutions for institutional and retail investors globally
across a broad range of public and private asset classes, as well as
asset allocation solutions.

About Phoenix Tower International

PTI owns and operates more than 3,500 sites (including sites under
contract), over 2,500 managed sites under marketing rights agreements,
974 km of fiber and other wireless infrastructure and related sites
throughout Argentina, Colombia, Costa Rica, Dominican Republic, El
Salvador, French West Indies, Mexico, Panama, Peru and the United
States, including Puerto Rico and the US Virgin Islands. Further
information is available at

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