Blackstone Buys Majority Stake In Cell Tower Leasing Co.

Law360, New York (September 7, 2012, 5:58 PM EDT) -- A fund controlled by New York-based Blackstone Group LP, the world's largest private equity firm, has grabbed a controlling stake in cell-tower lease purchaser Wireless Capital Partners LLC from a Goldman Sachs & Co. investment unit, the wireless firm said Friday.

In the deal, Blackstone’s Tactical Operations fund becomes the majority owner of California-based Wireless Capital, which enters fixed agreements with cell tower owners to exchange a large lump cash sum for the landlords' monthly lease income and assumption of lease responsibility.

The parties did not...
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