Ex-Hyperoptic and Vodafone executive Lutfu Kitapci takes TIP helm

Telecom Infrastructure Partners has named Lutfu Kitapci as chief executive officer, effective December 1, 2026, ending a year of interim leadership at the London-based lease aggregation company.

Kitapci joins from UK fibre ISP Hyperoptic and brings more than 25 years of telecoms industry experience. He spent close to 20 years at Vodafone Group, working across the operator in several countries, including a stint as chief commercial officer at Vodafone Ireland. For practitioners, the appointment signals a deliberately commercial profile at the top of a business built on long-dated property contracts rather than network operations.

Who is Kitapci replacing?

He takes over from John Thompson, who has served as acting CEO since December of last year. Thompson stepped into the role following the passing of TIP's founder and former CEO, Eric Overman. Thompson will continue as chief financial officer, a role he also held while overseeing the business. The transition closes an unusual chapter: a founder-led company steered for roughly a year by its finance chief.

Kitapci set out his immediate reading of the business on appointment. "The team has built a strong platform and a reputation as a reliable, long-term partner to both property owners and tenants. My thanks to John and the team for the welcome so far — I'm excited about what we will build together," he said.

Sadiq Malik, managing director at DigitalBridge and head of InfraBridge, framed the hire in investor terms. "Lutfu brings deep commercial expertise and a track record of building and scaling businesses across the telecom sector. We are confident he will build on TIP's strong foundations and lead the company through its next phase of growth. I also want to recognize John for his exceptional commitment over the past year. His leadership has been instrumental in strengthening TIP's platform and positioning the business for continued growth and success," Malik said.

What does TIP actually do?

The company operates in the global lease aggregation market, targeting telecom sites predominantly across Europe and Latin America. It runs operations in 16 markets. Readers should note it is not affiliated with the Telecom Infra Project, despite the shared acronym.

TIP's model focuses heavily on acquiring triple net lease agreements from individual landlords. Under a triple net lease, the tenant of the property bears all property costs plus rent. For the acquirer, these agreements can generate revenue streams lasting 30 to 50 years. Put simply: TIP buys the right to decades of site income, and the incoming tenant obligations stay with the tenant, not the landlord.

Who backs the company?

Founded in 2021, TIP has attracted serious infrastructure capital in a short period. Swiss Life Asset Managers completed the acquisition of a co-controlling equity stake in 2024, joining InfraBridge, the DigitalBridge-backed infrastructure investor, as a key shareholder. The company closed a €560 million ($627 million) debt financing last year. That is roughly €140 million per year of the company's existence since founding, a pace of capitalisation that few five-year-old lease aggregators match.

The ownership structure matters for the new CEO's mandate. Two institutional investors now share control, and both have publicly committed to growth rather than exit. Malik's statement, emphasizing "its next phase of growth," sits within that framing.

Kitapci takes charge on December 1, 2026, with a stabilised leadership bench, dual institutional backing, and a funded balance sheet across 16 markets.