|By Marketwire .||
|September 6, 2012 08:51 PM EDT||
LOS ANGELES, CA -- (Marketwire) -- 09/06/12 -- Wireless Capital Partners, LLC ("Wireless Capital") announced today that funds controlled by Blackstone Tactical Opportunities have reached an agreement with funds managed by Goldman Sachs Asset Management, L.P., an equity sponsor in Wireless Capital since 2006, to acquire its controlling interest in Wireless Capital.
Wireless Capital is a leading provider of financial solutions to landlords of wireless telecommunication infrastructure, while Blackstone Tactical Opportunities was created by The Blackstone Group to focus specifically on opportunistic investments in various alternative asset classes.
"The senior management team at Wireless Capital is thrilled to have formed a partnership with Blackstone," said Brad Knyal, Wireless Capital's CEO. "The combination of Wireless Capital's years of experience and the depth of financial resources provided by Blackstone will solidify our position as one of the leading providers of capital to wireless landlords throughout the United States and abroad. It has been an honor to work with Goldman Sachs for the last 6 years and we look forward to building a new and lasting relationship with Blackstone for many years to come."
About Wireless Capital Partners, LLC
Wireless Capital Partners, LLC was founded in 2001 as a financial services company specializing in the acquisition of cellular ground leases. Since inception, the company has acquired over 3,000 lease assets throughout the United States. Further information is available at www.wirelesscapital.com.
About The Blackstone Group
The Blackstone Group is one of the world's leading investment and advisory firms with more than $190 billion in assets. Its alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-oriented funds and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com.
About Goldman Sachs
Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. Further information is available at www.goldmansachs.com.
Director of Marketing
Wireless Capital Partners, LLC