Asterion Industrial Partners, an independent investment management firm, completed the acquisition of telecommunication company Telefonica’s microwave radiolink portfolio in Spain. Financial terms were not disclosed. The investment is in line with Asterion’s investment strategy focused on strong downside protection through the provision of a long-term contractual agreement with Telefónica, managing the complexity of the carve-out as well as building on the opportunity for ongoing industrial engagement and commercialization of the assets. Furthermore, the transaction reinforces Asterion’s long-term commitment to Spain and the telecoms sector as part of its investment mandate. The transaction complements Asterion Industrial Infra Fund I existing investments in France, Spain and the UK in the energy services, renewables, data center and renewable distributed energy sectors.