Blackstone Finalizes CDN$7 Billion Equity Investment in Rogers

On June 20, 2025, Blackstone (NYSE: BX) announced the completion of its CDN$7 billion equity investment in Rogers Communications Inc. (TSX: RCI.A and RCI.B; NYSE: RCI). This strategic investment, in collaboration with several leading Canadian institutional investors, aims to bolster Rogers' wireless backhaul transport infrastructure. The investor consortium includes prominent entities such as the Canada Pension Plan Investment Board (CPP Investments), Caisse de dépôt et placement du Québec, the Public Sector Pension Investment Board (PSP Investments), British Columbia Investment Management Corporation, and the Investment Management Corporation of Ontario.

The investment involves acquiring a non-controlling interest in a newly established subsidiary of Rogers that focuses on the essential components of the company's wireless backhaul operations. Robert Horn, Global Head of Infrastructure & Asset Based Credit at Blackstone, expressed enthusiasm about the partnership, stating, "We’re thrilled to close this transaction with Rogers to further their growth and balance sheet objectives. This demonstrates Blackstone's commitment to providing flexible capital solutions for leading corporations, while offering differentiated opportunities for our investors."

Mark Rutledge, US Head of Infrastructure Services at Blackstone Credit & Insurance, noted the significance of Rogers' backhaul network, which is designed to accommodate the increasing demand for mobile data. He emphasized that this investment supports Rogers' future plans for growth and infrastructure enhancement.

Blackstone Credit & Insurance (BXCI) manages over $90 billion in assets and comprises over 70 investment professionals, making it one of the largest entities in the asset-backed marketplace. The organization focuses on generating attractive risk-adjusted returns for institutional and individual investors by offering essential capital to strengthen and grow businesses.

This investment aligns with broader trends in telecommunications, where infrastructure development is crucial for meeting the rising demand for data services. The collaboration between Blackstone and Rogers represents a significant financial maneuver in the Canadian telecommunications sector, reflecting the growing interest of institutional investors in telecommunication infrastructure.

In summary, Blackstone's CDN$7 billion equity investment not only supports Rogers' strategic objectives but also highlights the increasing trend of institutional investment in essential infrastructure. As mobile data usage continues to surge, such investments are poised to play a critical role in shaping the future of telecommunications in Canada and beyond.