Richard ‘Dick' Beattie, Star Lawyer in Famed Private-Equity Deals, Dies at 86
Beattie represented KKR in its takeover of RJR Nabisco, a deal immortalized in the book 'Barbarians at the Gate.'
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CNN
43 minutes ago
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Tanks arrive in DC ahead of US Army parade
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Yahoo
43 minutes ago
- Yahoo
Meta Looks to Expand AI Development by Investing in Scale AI
This story was originally published on Social Media Today. To receive daily news and insights, subscribe to our free daily Social Media Today newsletter. Meta's reportedly looking to expand its AI infrastructure even further, by investing in AI startup Scale AI, which specializes in data labeling to facilitate AI model expansion. According to Bloomberg, Meta is in advanced talks to potentially invest up to $10 billion into the company, which Meta already works with as part of its expanded AI development. Originally founded in 2016, Scale AI has become a key provider of qualified data, which can help to improve AI system training significantly. Scale AI ensures that data sources are accurately labeled and annotated, essentially making sense of data input streams in order to improve the training process. According to research, this can significantly reduce AI training time, by feeding more valuable data sources to AI companies, reducing manual load on their part. And as noted, Scale AI already works with several major AI projects, including OpenAI and Meta, to assist in their current AI training process. Meta previously invested $1 billion in Scale's Series F funding round. An expanded partnership could give Zuck and Co. a significant advantage, by ensuring that it has exclusive access to Scale's evolving data classification tools, which could help to improve Meta's AI models significantly. This comes as Meta is also working to grow its data processing capacity, with the development of a 2 gigawatt data center, among various major infrastructure elements. Meta's also currently holds around 350,000 Nvidia H100 chips, which power its AI projects (both OpenAI and xAI have around 300k H100s), while it's also developing its own hardware for expanded AI development. Essentially, Meta's pushing hard to become the leader in the global AI race. And with expanded investment in key infrastructure tools like Scale AI, it's well on the way to leading the market on potential AI development. That could have major implications for Facebook, Instagram, and Meta's broader AI tools, including in VR environments and in wearables, moving forward.
Yahoo
an hour ago
- Yahoo
BCI Invests in KKR Tower Platform Pinnacle Towers
SINGAPORE & VICTORIA, Canada, June 09, 2025--(BUSINESS WIRE)--KKR, a leading global investment firm, British Columbia Investment Management Corporation ("BCI"), and Pinnacle Towers, an Asia-based digital infrastructure platform with a focus on the Philippines, today announced the signing of definitive agreements under which BCI will acquire a minority stake in Pinnacle Towers from KKR, which will remain the majority shareholder. Pinnacle Towers was established in 2020 to serve the rapidly increasing demand for connectivity and quality telecommunications infrastructure in the Philippines. Led by a highly experienced management team, the platform specializes in executing on Build-to-Suit ("BTS") telecommunications tower projects, optimizing the use and management of Sale-and-Leaseback ("SLB") assets with leading mobile network operators, and providing ancillary management services to industry players. In the span of five years, Pinnacle Towers has scaled to become the largest independent tower company in the Philippines with around 7,000 towers.1 Lincoln Webb, Executive Vice President & Global Head, Infrastructure & Renewable Resources, BCI, said, "We are excited to work closely with KKR and Pinnacle's management team to support the growth of the business. The Philippines represents a compelling market for long-term capital, especially in essential digital infrastructure services. This investment aligns with our emerging markets strategy of backing high-quality infrastructure assets alongside strong institutional partners. We look forward to supporting Pinnacle Towers as it continues to enhance digital connectivity and drive meaningful impact across the Philippines." Projesh Banerjea, Managing Director, Infrastructure, KKR, said, "We are very proud of the success that we have achieved with Pinnacle Towers to serve the Philippines' connectivity needs. Since our initial investment, we have collaborated closely with Pinnacle Towers' outstanding management team to deepen the platform's capabilities and scale its presence organically and through bolt-on acquisitions. We are delighted to welcome BCI, who share our long-term vision and commitment to developing critical digital infrastructure, as strategic partners and look forward to building on Pinnacle Towers' strong growth momentum." Patrick Tangney, Chairman and CEO of Pinnacle Towers, said, "Over the last five years, with the support of KKR, Pinnacle Towers has grown to become the leading independent tower company in the Philippines. BCI's investment marks an important milestone in our journey and is a strong endorsement of our mission. With BCI and KKR as strategic partners, we are well-positioned to continue driving greater digital connectivity in the Philippines and across the region." BCI Infrastructure & Renewable Resources has a global portfolio with nine active investments in the Asia-Pacific region, including Rakuten Mobile (a leading communications tower company in Japan), Altius (a leading communications tower company in India), and Cube Highways (the largest toll road operator in India). The program continues to expand its presence in the region with the addition of this minority stake acquisition in Pinnacle Towers. KKR made its investment in Pinnacle Towers from its Asia Infrastructure Funds I and II. KKR first established its global infrastructure team and strategy in 2008 and has since been one of the most active infrastructure investors around the world. KKR's Asia Pacific infrastructure platform was established in 2019 and has since organically grown to approximately US$13 billion in assets under management. The transaction is expected to be completed by Q3 2025, subject to customary regulatory approvals. About BCI British Columbia Investment Management Corporation (BCI) is amongst the largest institutional investors in Canada, with C$250.4 billion in gross assets under management as of March 31, 2024. Based in Victoria, British Columbia, with offices in Vancouver, New York, and London, U.K., BCI manages a portfolio of diversified public and private market investments on behalf of its British Columbia pension fund and institutional clients. Learn more at About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at About Pinnacle Towers Pinnacle invests in, builds and operates telecommunications infrastructure with a focus on towers and related assets. Pinnacle is an Asia-focused digital infrastructure platform with a strong focus on the rapidly growing Philippines market. Frontier's leadership team includes founders of a number of highly successful tower companies and former C-level executives from some of the world's leading wireless operators. KKR first invested in Pinnacle Towers in 2020. _____________________ 1 Including sites contracted to build or acquire View source version on Contacts Media Contacts For BCIOlga Petrycki+1 778 410 7310media@ For KKR Asia PacificWei Jun Ong+65 6922 For Pinnacle TowersHendrik-Jan KroonHendrik@
