Palistar Capital has named David Bacino as the new leader of its affiliate company Symphony Towers Infrastructure.

The company announced Bacino's appointment a few days after former CEO Bernard Borghei confirmed his departure on LinkedIn, as reported first by DCD earlier this week.

Borghei said in a statement that he chose to leave his role at the company due to an "ongoing irreconcilable difference with Symphony's financial sponsor."

He confirmed to DCD that the decision to leave was his own. Borghei co-founded Vertical Bridge, one of the country’s biggest tower operators, and joined Symphony as CEO last year.

In Palistar's announcement yesterday (July 22), the company makes no reference to Borghei or his decision to leave.

His replacement, Bacino, has more than 33 years of operating experience in the telecommunications industry and has been a Palistar Operating Partner since 2019. He served as CEO of CTI Towers from 2021 to 2025.

Prior to this, Bacino was the president of Melody Wireless Infrastructure from 2014 to 2021, when it was sold for $1.625 billion.

"I'm confident that David Bacino – a trusted member of the Palistar leadership team and a proven expert in the tower industry – is the right person to lead the team at Symphony Towers and to manage these critical infrastructure assets," said Omar Jaffrey, founder and managing partner of Palistar and founder and chairman of Symphony Towers.

"His steady leadership and deep and trusted relationships across the sector reflect our values and our strategy, as we advance the long-term interests of our employees, customers, and investors."

Integration of assets

Palistar's confirmation of Bacino's appointment comes as the company revealed that it had completed the integration of the assets of its portfolio company, CTI Towers, Inc. with Palistar's telecom easements portfolio, Symphony Towers.

Following the completion of the integration of assets, the entity is made up of approximately 3,000 wireless assets across 50 states. These consist of urban, suburban, and rural macro wireless locations with long-term leases from investment-grade counterparties.

"These 3,000 assets have been carefully curated over the last six years, and we believe they are now well-positioned to deliver strong and growing cash flow growth and yield – an ideal combination desired by investors. The completion of the planned combination should allow us to deliver on sustainable cash flow growth," added Jaffrey.

Founded in 2019, Symphony acquires the ground leases and easement rights to telecom towers, which it leases out, while CTI operates as a telecom tower company in the US.

CTI was founded in 2011 with an investment from Comcast Ventures, before it was acquired by Palistar in 2020. The company owns, manages, and markets more than 1,800 infrastructure assets across the US, and leases space on its towers to the major wireless carriers, including AT&T, Dish, T-Mobile, and Verizon.