Private equity firm KKR & Co will invest $400 million in telecoms tower operations and expansion in the Philippines, the U.S. Department of Commerce said on Wednesday. In 2022, a unit of the company acquired 3,529 telecom towers for 45 billion pesos ($814.73 million) in a sale and leaseback deal with Philippines' Globe Telecom Inc. The U.s. Commerce Department announced American investments of more than $1 billion in Philippines during the trade mission.