Investment company Apollo Global Management agreed to acquire the US telecommunications platform, including a portfolio of operating cell towers and a pipeline of contracted towers under development, from Lendlease, a multinational construction, property and infrastructure company. Financial terms were not disclosed. "Parallel Infrastructure is an established, critical infrastructure business that’s positioned for significant growth driven by increased data consumption and the continued shift to 5G networks across the United States. Our corporate carve-out experience was critical to the transaction and setting the business up for future growth," Dylan Foo, Apollo Senior Partner and Co-Head of Infrastructure.