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Melody Investment Advisors Closes on $1.95 Billion Communications Infrastructure Fund
PR Newswire
January 18 2022
Melody Investment Advisors, an alternative asset manager focused on mission-critical communications infrastructure, announced today the final close of Melody Communications Infrastructure Fund II at $1.95 billion. The Fund was significantly oversubscribed and exceeded its target of $1.5 billion by nearly 30%
Omar Jaffrey, sole Founder and Managing Partner of Melody, said, "We thank our investors and are excited about the opportunities we see in the market as we believe demand for network usage will grow exponentially. We have a world-class team of partners and professionals at Melody, and are confident that our experience, deep sector expertise in identifying investments in communications infrastructure and active approach to value creation will allow us to focus on delivering superior results to our investors."
Investors in the Fund are geographically diverse and include several large institutional infrastructure investors, including public and private pension funds, sovereign wealth funds, foundations and endowments, fund of funds, insurance companies and charitable trusts.
PR Newswire
August 3 2021
Melody Investment Advisors, the alternative asset manager and cell tower investment firm specializing in mission critical communication infrastructure, has publicly announced their proposal to purchase all of the assets owned by the infrastructure and real estate company, Landmark Infrastructure Partners. The proposal is detailed in a letter from Melody Investment Advisors to Landmark Infrastructure Partners, which has been made public as part of the announcement. Find out about Melody Investment’s proposed deal below and why it may be the most compelling option for Landmark Infrastructure Partners.
If one thing is clear in the public letter signed by Omar Jaffey, a managing partner at Melody Investment Advisors, it is that Melody takes this purchase very seriously and is willing to show how highly they value Landmark Infrastructure Partners’ assets. By offering $16.25 per landmark unit in cash, Melody Investment sets itself apart from other communications infrastructure investment firms—adding a 25% premium to the offer made by Digital Colony Acquisition and a 20% premium to the offer made by Verde Investments Inc. Melody’s proposal is both financially superior to Verde’s and Colony’s, and the deal is made sweeter by the fact that Melody ample committed and available capital as a cell tower investment firm provides equal or greater transaction certainty.
Melody Investment Advisors expresses that, as a communication infrastructure investment firm and alternative asset manager, they are best equipped to make the most of Landmark’s Assets, both in terms of the value of the assets themselves as well their value to Landmark and its unitholders. As a cell tower firm with a stellar reputation and an impressive portfolio of partners, Melody makes itself a clear frontrunner for the acquisition of Landmark’s assets. While Landmark is currently evaluating all proposals, Melody Investment Advisors hopes to promptly move into discussions with Landmark’s conflicts committee representatives, taking the next step towards completing the cell tower investment firm’s proposed purchase.
Melody Investment Advisors Becomes United Nations Principles for Responsible Investment Signatory
PR Newswire
July 8 2021
Melody Investment Advisors LP, an alternative asset manager focused on mission-critical communications infrastructure, announced today that it is now a signatory of the United Nations-supported Principles for Responsible Investment ("PRI"). Launched in 2006, the PRI outlines the six principles for responsible investment, developed with and backed by the United Nations, and acts in the long-term interests of its signatories, the financial markets, and economies in which they operate as well as the environment.
The PRI includes over 4,000 signatories, including asset owners, investment managers, and service providers. The PRI’s six principles provide signatories with a blueprint for incorporating ESG and sustainability issues into their long-term investment decision-making. This is familiar territory for Melody Investment Advisors, as the firm considers ESG to be the core of its investment philosophy, and incorporates ESG considerations across its investment management processes.
Melody Investment Advisors, an alternative asset manager led by Founder and Managing Partner, Omar Jaffrey, has, in his words, “always considered ESG factors crucial to its process. We are incredibly proud to have been accepted as a United Nations PRI Signatory.”
Before and since becoming a part of the leading global network for investors committed to integrating environmental, social and governance considerations into their investment decision making, Melody has had an ESG governance framework that oversees proper implementation of its program and ensures its team is adequately resourced to systematically and consistently factor ESG into investment decisions.
"We are delighted to welcome Melody Investment Advisors on board as a PRI signatory," commented Fiona Reynolds, CEO at the PRI."It is great to see their commitment to responsible investment and ESG integration, and we look forward to working together in the future."
The PRI is the world's leading proponent of responsible investment.
Melody Investment Advisors Announces Appointment of General Counsel
PR Newswire
June 3 2021
The alternative asset manager and communications infrastructure-focused investment firm, Melody investments, announced today Nitin Khakee’s appointment to the role of General Council. "We are very excited to welcome Nitin to the Melody Investment Advisors team," said Omar Jaffrey, Founder and Managing Partner of Melody Investment Advisors. Mr. Khakee brings decades of infrastructure investing experience to the table, and his skillset will be “tremendously impactful” for Melody Investment Advisors, which “continues to grow as the premier alternative investor in communications infrastructure.”
Nitin Khakee states that he is “proud to join” a firm with such “stellar reputation.” Melody Investors Advisors COO and CFO Chester Dawes anticipates that Mr. Khakee will apply his “deep understanding of legal and regulatory issues” and “deep experience in both M&A and private funds” to the “rapidly evolving” landscape of communications infrastructure.
Prior to joining Melody Investment Advisors, Mr. Khakee served for eight years as Executive Director and General Counsel at Morgan Stanley Infrastructure Partners, leading acquisitions and dispositions, and successfully raising OECD and targeted infrastructure funds and co-investment initiatives.
Before joining Morgan Stanley, Mr. Khakee served for five years as Vice President and Counsel at Credit Suisse Asset Management, leading a number of strategic initiatives and divestitures between 2008 and 2013. In his early career, he was a corporate attorney with Greenberg Traurig, LLP and LaBeouf, Lamb, Green, and MacRae, LLP.
Melody Investment Advisors is an alternative asset manager, led by Founder and Managing Partner, Omar Jaffrey, focused on communications infrastructure and cell tower investment. The firm invests through direct asset ownership and seeks innovative financing solutions to complex problems for leading global communications companies. To learn more about Melody Investment Advisors, visit www.melodyinvestmentadvisors.com.
Melody Investment Advisors Announces Senior Advisory Board
PR Newswire
May 12 2021
Melody Investment Advisors LP today announced the members of the firm's Senior Advisory Board. Composed of leading executives and thought leaders in the communications infrastructure industry, the Senior Advisory Board is chaired by Founder and Managing Partner, Omar Jaffrey.
The Advisory Board members include veteran telecommunications and media executives Edward D. Horowitz, John W. Diercksen, Joseph J. Euteneuer, and Ronald T. LeMay. Biographies for these individuals can be found below.
Melody Investment Advisors Expands Rooftop Portfolio via Partnership with Pebblebrook Hotel Trust
PR Newswire
February 11 2021
Melody Investment Advisors and Pebblebrook Hotel Trust, a publicly-traded real estate investment trust and the largest owner of urban and resort lifestyle hotels in the United States, announced an investment by Melody of cell site installations with regards to 14 rooftop wireless assets at 11 of Pebblebrook's hotels and resorts. In addition to Melody's investment, Melody and Pebblebrook have also established a strategic marketing and revenue sharing agreement covering the same 11 Pebblebrook properties.
Neil Notkin joins the Symphony Wireless team
PR Newswire
February 11 2021
We are pleased to announce Neil Notkin, a veteran business development executive, has joined the Symphony team as Senior Vice President of Originations. Mr. Notkin has a long history of successfully building and acquiring easement assets related to telecommunications. His accomplishments include the sourcing and development of right of way corridors representing over 5,000 miles and 14,000 leases with funding provided by Columbia Capital and Barings. In addition, Mr. Notkin managed, mentored, and built teams that invested more than $1.2 billion and acquired a network of more than 5,000 cell sites and over 7,000 carrier leases
Read more about this on Symphony's new website: http://www.symphonywireless.com
John Apostolides interview from the AGL Virtual Summit
AGL Virtual Summit
February 11 2021
John Apostolides, investment partner at Melody Investment Advisors, spoke at the AGL Virtual Summit. Apostolides discussed how Melody Investment Advisors has positioned itself as a financial player in mergers and acquisitions (M&A) compared to other tower companies.
Melody Investment Advisors purchased 1,150 cell towers from CTI Towers, a shareholder group led by Comcast's venture investment arm, and acquired roughly 500 towers from Uniti Towers for around $220 million. Their most recent activity was the investment in 14 rooftop cell site installations at 11 properties owned by Pebblebrook Hotel Trust. This arrangement positions Melody Investment Advisors to generate additional revenue growth from a key, but underdeveloped, asset class in urban areas and a resort lifestyle hotel portfolio. Melody Investment Advisors has extensive experience managing and augmenting revenue related to rooftop wireless assets, and Pebblebrooks's unique multi-market footprint will help expand 5G coverage.
There was also further discussion about future opportunities involving the Department of Defense, wireless internet service providers, and the Rural Digital Opportunity Fund.
J. Sharpe Smith programmed the February Summit that was hosted by Kari Willis. Clayton Funk, managing director at Houlihan Lokey, moderated the mergers and acquisition session. Video host, Don Bishop is executive editor and associate publisher of AGL Magazine.
TMT Connect
December 10 2020
John Apostolides, Investment Partner at Melody Investment Advisors, joined other public and private wireless tower, broadcast tower, infrastructure leaders, advisors, and investors to assess strategies for the U.S. wireless infrastructure market. The session also focused on the next wave of opportunities and industry changes posed by 5G and fiber in relation to the towers market. The panel focused on key issues, including:
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Towerco developments in North America: The business models that are working and where they are located.
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Looking deeper into Mergers & Acquisition (M&A) transactions that have taken place in 2020 and what the 2021 pipeline holds.
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Investing in the next phase of growth: Reviewing the value of moving into higher growth markets of fiber, small cell, 5G, data centers, and edge computing.
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Reviewing partnerships between public and private operators: Working with MNOs on the next phase of outsourcing, collaborations, acquisitions, and network rollout.
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Financing for build vs. buy: Which financing options are available for new growth opportunities and M&A.
Melody Investment Advisors has extensive experience managing and augmenting revenue in the towers market. They have aggressively pursued M&A activity with the purchase of 1,150 cell towers from CTI Towers, a shareholder group led by Comcast's venture investment arm, and an acquisition of roughly 500 towers from Uniti Towers for around $220 million. The deals have helped make Melody Investment Advisors one of the largest private owners of wireless infrastructure properties in the U.S.
TMT Finance is an exclusive news and networking outlet for telecom, media and tech, M&A, financing, and global investing that is trusted by M&A leaders, investment bankers, and PE investors and advisors. Visit https://www.tmtfinance.com/
Omar Jaffrey discusses with Pitchbook the $1 trillion communications infrastructure opportunity amid Covid-19
Pitchbook
December 8, 2020
Pitchbook’s 2020 Q1 Global Fund Performance Report features comprehensive data from 2020’s first quarter as well as preliminary returns data from Q2, using new methodologies to draw directional results from both quarters earlier than previously possible. The Q1 results as well as the early look at Q2 show that returns dipped slightly as COVID-19 began to spread, but bounced back quickly as adaptations were made and opportunities became apparent to 5g investment firms. Omar Jaffrey, a leader in cell tower investment firms, speaks with Pitchbook about the one trillion dollar communications infrastructure opportunity that has coincided with the pandemic.
Omar Jaffrey appeared on Bloomberg TV to discuss Melody's role in the growth and implementation of wireless infrastructure
Bloomberg TV
October 30, 2020
In an interview with Bloomberg TV, Omar Jaffrey discussed the inevitable rise to data consumption in coming years by 10 times what it is now. There is a growing demand for data consumption, and organizations like Melody Investment Advisors are helping this demand by fostering partnerships between wireless carriers and investors. Additionally, with this growth, the US government will need to play a significant role to build infrastructure and decrease the red tape around infrastructure investments. Currently, about 150 million Americans have poor internet infrastructure, but there is plenty of room to improve this and a strong demand to do so. Other national wireless markets are ahead of the US in infrastructure and telecom investments, but the US is not far behind and it has the opportunity to capitalize on the industry’s growth. Accelerated growth in the US telecom investments will occur and the country will catch up to other wireless markets like China, Japan, and South Korea.
Omar Jaffrey spoke with Light Reading about Melody's investment philosophy
Light Reading
October 27, 2020
Recently, Melody Investment Advisors have purchased 1,150 cell towers from CTI Towers and another 500 towers from Uniti Tower to further their digital infrastructure plans and broaden telecommunications. In an interview with Light Reading, Omar Jaffrey discussed their current investment portfolio and how this could change as new opportunities arise. Omar Jaffrey, the co-founder and managing partner of Melody, is looking to expand digital infrastructure and telecom investments. He explained that it’s a unique time where digital infrastructure is thriving, while other industry infrastructure like travel and leisure are crumbling. Additionally, the digital infrastructure investment opportunities are wide open at the moment, with large areas for extreme growth like edge computing and 5G. In terms of their own investments, Melody Investment Advisors is focused on stable opportunities like towers, but they understand the growing opportunities in small cells and smaller scale deals.
Omar Jaffrey sat down with AGL to discuss Melody's approach to investing
AGL Media Group
October 20, 2020
Omar Jaffrey, founder of Melody Investment Advisors, sat down with AGL Media Group to discuss the story of Melody Investments, the success the company has had this year, and how Jaffrey envisions his firm’s future. After going over Melody Investments’ origins as a multi-strategy credit fund making telecom investments, the interview moved to the company’s current dealings. Jaffrey spoke about the firm’s recent successful ventures, noting how his deep ties and history within the infrastructure investment world have allowed him to form lucrative connections and robust partnerships. When asked about the previous year, Jaffrey detailed how the Coronavirus Pandemic has highlighted how important telecommunications infrastructure is, and shown telecom investment companies exactly where work needs to be done. Jaffrey went on to give details on two significant deals he made this year, partnering Melody Infrastructure with CTI Towers and Harmoni. Jaffrey concluded the interview by giving a vision of the future of wireless internet service provisions (WISPs), and for Melody Investment specifically, describing the changes that will occur as cable companies consolidate WISPs on regional platforms and what it would look like for tech companies like Google and Facebook to take on the challenge of creating a nationwide WISP platform.
Omar Jaffrey will be speaking at the Infrastructure Investor Global Summit Online on October 12
Infrastructure Investor
October 9, 2020
Omar Jeffrey will speak at the 2020 Infrastructure Investor Global Summit Online on October 12th. The opening panel, titled “Converging Sub-Asset Classes – Examining The Synergies Between Data Centres, Towers & Fibre” will include Jeffrey and industry leaders. The panel will come directly after the Chair’s welcome at 3:15 PM. The discussion will focus on the blurring lines between Data Centres, Towers, and Fibre, and how these assets are being brought closer by 5G technology. The conversation will then move more towards telecom investments and whether there are true strategic synergies in these converging industries, and how this should inform infrastructure investors and advisors.
Melody Investment Advisors Closes on Acquisition of CTI Towers
PR Newswire
October 6, 2020
Melody Investment Advisors LP has officially acquired CTI Towers, Inc., which operates approximately 1,150 wireless towers in the U.S. CTI Towers was founded in 2011, led by an investment from Comcast Ventures, the venture capital affiliate of Comcast Corporation. The October 2020 acquisition follows Melody Investment Advisor’s May 2020 acquisition of Harmoni Towers (formerly Uniti Towers). Between these two recent acquisitions, Melody Investment Advisors has become one of the largest private owners and marketers of wireless infrastructure properties in the U.S.
Melody Investment Advisor's Founder and Managing Partner Omar Jaffrey sat down with Infrastructure Investor
Infrastructure Investor
October 1, 2020
Melody Investment Advisors founder and managing partner Omar Jaffrey discusses reasons behind the growth of communication infrastructure, such as the increased use of connected devices as well as shared communication assets between various technology and wireless companies. At Melody, we focus on four sub-segments. The verticals we prioritize are telecom easements, tailored solutions for macro towers; carrier partnerships; and data centers and fibre. Digital infrastructure offers a $1 trillion-plus global investment opportunity, and he believes it comes with less risk than other industries. He cites the negative impacts toll roads, airports, and real estate have suffered due to the pandemic, and points out that communication infrastructure has thrived amidst the face of COVID19. Looking forward, we believev the upward trends will continue and that Melody Investment Advisors is in the right place.
GEO / MEO / LEO – Satellite in the Finance Markets
GVF Association
September 11, 2020
Dara Panahy from Milbank moderates a discussion on the satellite and space industry’s financial market, with three panellists: Christ Quilty, President of Quilty Analytics; John Apostolides, Investment Partment of Melody Investment Advisors; and Mark Boggett, CEO of Seraphim Space Fund. Despite COVID, Boggett advises that the appetite of investors is still high, especially in the space industry, with some surprisingly high quoted figures. Apostolides looks at it from an infrastructure perspective, arguing that these assets in the sky, or Medium Earth orbits (MEO), have longer lives and in turn, longer contracts, compared to Geostationary Equatorial Orbits (GEO) and Low Earth orbits (LEO). Watch the full YouTube video for a full in-depth discussion, which includes advice for companies looking to raise financing on how and when to raise capital.
Uniti Towers Announces Name Change to Harmoni Towers
PR Newswire
September 09, 2020
Uniti Towers changed its name to Harmoni Towers LLC after 90% of the company, which included more than 500 towers, was acquired by Melody Investment Advisors. Harmoni Towers will have the same management team as Uniti Towers, and maintain the goal of creating network deployment solutions for wireless carriers. According to Harmoni Towers President Lawrence Gleason, Harmoni is well positioned for growth due to the backing of Melody Investment Advisors as well as the ongoing rollout of 5G networks. Harmoni Towers is one of the largest tower builders in the U.S., with more than 500 towers built since their 2017 inception. The company is marketing more than 1,000 site locations across the nation.
Melody Investment Advisors Acquires CTI Towers
PR Newswire
September 01, 2020
Melody Investment Advisors announced on September 1st 2020 that they have acquired the telecommunications tower corporation CTI Towers Inc. This significant deal will allow the cell tower investment firm Melody Investment Advisors to expand their reach and create valuable relationships with CTI’s lessors, including AT&T, T-Mobile, and Verizon. CTI Towers, owned by Comcast Corporation’s venture investment arm, manages approximately 1150 towers in 47 states across the country. Omar Jaffrey speaks about Melody’s outlook given this important acquisition and how the 5g investment firm will help CTI and its other partners continue to grow.
Melody Investment Advisors Closes on Acquisition of Uniti Towers
PR Newswire
June 02, 2020
On June 2nd 2020, Melody Investment Advisors, announced the deal finalizing their acquisition of Uniti Towers. Uniti Towers, owned by Uniti Group Inc., is a communications infrastructure business that has hundreds of towers across the country and has been on the cutting edge of the 5g rollout. With Melody closing the deal, the communications infrastructure investment firm lands ninety percent of Uniti’s towers, leaving ten percent of the tower business with Unity. In a public statement, Lawrence Gleeson of Unity Towers reported that the company is looking forward to working with Melody Investment Advisor’s team during the continuing 5g rollout and strengthening their relationships with Melody’s other wireless carrier partners. In the deal Melody acquired over 500 towers and intends to work closely with Unity to develop integrated solutions for carriers working with towers, fiber, and small cell infrastructure. In closing, Jaffey remarked on the telecommunication infrastructure market, pointing to its stability and rapid growth as a critical pillar of the nation’s economy.
Melody Investment Advisors Acquires Wireless Towers from Uniti
PR Newswire
May 11, 2020
On May 11th 2020, the communication infrastructure investment firm, Melody Investment Advisors, announced the acquisition of wireless towers from Uniti Towers. The deal between Melody and Unity, owned by Unity Group Inc, transfers over 500 towers to Melody’s ownership, for approximately $220 million. Unity will retain a ten percent investment interest through an affiliate of Melody, allowing previous owners and managers to stay connected to the towers they worked to develop. Omar Jaffey, CEO of Melody Investment Advisors, says that the infrastructure investment firm is excited about the benefits that these added towers will bring to Melodies partners and investors in the wireless carrier sector. Melody Investment Advisors, after this recent acquisition, owns over 4,000 towers, ground/rooftop leases, and pipeline sites, making them one of the largest privately-owned telecom landowners in the United States.