Palistar Capital Announces Combination of U.S. Wireless Assets

Creates One of the Top Five Private Telecom Infrastructure Platforms in the U.S.

Forms Symphony Towers Infrastructure, Led by CEO Bernard Borghei

NEW YORK, Jan. 14, 2025 /PRNewswire/ -- Palistar Capital, LP ("Palistar"), an alternative asset manager focused on mission-critical communications and digital infrastructure, today announced the combination of its pool of wireless assets managed exclusively by Symphony Wireless, LLC ("Symphony Wireless"), the dedicated cell site acquisition affiliate of Palistar, with another Palistar portfolio company, CTI Towers, Inc. ("CTI") (together, the "Wireless Tower Portfolio"). In conjunction with the transaction, Symphony Wireless will change its name to Symphony Towers Infrastructure ("Symphony Towers").

This transaction creates one of the top five private telecom infrastructure platforms in the U.S. Symphony Towers will exclusively operate, manage and market approximately 3,000 assets across all 50 states on behalf of Palistar, becoming one of the largest and fastest growing businesses in U.S. wireless infrastructure. The combined entity will be led by Bernard Borghei. Mr. Borghei, who joined Symphony Wireless in April 2024, is a veteran of the telecommunications infrastructure industry with over 30-years of sector experience, including as a co-founder of Vertical Bridge.

Symphony Towers will continue to drive growth in its Wireless Tower Portfolio through the origination of new investments on behalf of Palistar, including via the acquisition of both portfolios and individual wireless infrastructure assets.

Omar Jaffrey, Founder and Managing Partner of Palistar and Founder and Chairman of Symphony Towers, stated: "We are excited about the benefits and growth this new entity will bring to our clients. This combination reflects the long-term investment Palistar is making in wireless and digital infrastructure. Palistar expects to continue investing in the highest-quality U.S. wireless infrastructure in the coming years, and Symphony Towers is key for us to deliver on that vision."

Bernard Borghei, Chief Executive Officer of Symphony Towers, said, "This transaction creates premium operational and business efficiencies for Palistar's Wireless Tower Portfolio by consolidating the outstanding management teams and processes of both Symphony Wireless and CTI. As a result, Symphony Towers will leverage the scale of the Wireless Tower Portfolio, providing exceptional value and a world-class operating experience to its customers."

Mr. Borghei continued, "Our focus will include driving both organic growth by offering best-in-class solutions to Palistar's customers and inorganic growth via the continued acquisition of towers, ground leases and rooftop assets. We are committed to delivering value across the tower ecosystem, including to wireless carriers and the tower companies, as well as to cellular site and tower owners. We are grateful to all our partners in this transaction for their support in furthering these goals."

David Bacino, Chief Executive Officer of CTI and Operating Partner at Palistar, added, "We are extremely proud of the value we provide to our customers and partners in the wireless, cable and broadcast sectors, and look forward to Symphony Towers delivering those top-tier solutions going forward." Upon the close of this transaction, Mr. Bacino will return to his role as Operating Partner at Palistar. 

About Palistar Capital

Palistar Capital LP ("Palistar" or the "Firm") is an alternative asset manager led by Managing Partner and Founder, Omar Jaffrey, focused on digital infrastructure investments. The Firm seeks to invest through direct asset ownership as well as by developing innovative financing solutions to complex problems for leading global digital infrastructure related companies. To learn more about Palistar, visit www.palistar.com.

About Symphony Wireless

Symphony Wireless, an affiliate of Palistar Capital LP, acquires, manages, and leases digital infrastructure assets such as tower, rooftop and non-traditional structure cell sites in metro, urban and suburban environments throughout the United States. Symphony Wireless seeks to provide strategic revenue to sellers while optimizing administration and lease management. For more information on Symphony Wireless, please visit https://symphonywireless.com/.

About CTI Towers

CTI Towers, Inc., based in Morrisville, NC, is one of the largest private tower companies in the U.S. Founded in 2011 with an investment from Comcast Ventures, the company was acquired by Palistar in 2020. The company owns, manages and/or markets over 1,800 wireless communications towers across the United States and leases space on its towers to the major wireless carriers, including AT&T, DISH, T-Mobile and Verizon, as well as to broadcasters, utility companies, internet service providers and government entities. To learn more about CTI Towers, visit www.ctitowers.com.

Media Contacts
Mary Beth Grover / Keely Gispan
ASC Advisors
[email protected] / [email protected]
(203) 992-1230

SOURCE Palistar Capital