Caisse de depot et placement du Quebec has invested 1.76 billion Canadian dollars (US$1.27 billion) in Brookfield-backed Altius Telecom Infrastructure Trust, securing a 24% stake in India's largest independent telecom tower platform.

La Caisse, one of Canada's largest pension investors, said the investment reflects the growing demand for mobile connectivity and 5G infrastructure in India, the world's second-biggest telecommunications market.

Brookfield remains Altius's largest investor following the deal, alongside La Caisse and existing shareholders affiliated with Singapore's GIC and British Columbia Investment Management.

Altius owns and operates more than 258,000 telecom towers and sites across India providing the infrastructure for mobile operators to deliver 4G and 5G services.

The investment by la Caisse comes after it and Brookfield in August finalized the C$3.8 billion acquisition of Boralex, a move that doubled la Caisse's stake in the renewable energy company to 30%. The same month, Blackstone and la Caisse unveiled a C$2.5 billion minority investment in Air Canada's Aeroplan loyalty program.