Investment Summary

Fortress, Columbia Capital and Goldman Sachs Asset Management Invest In NextNav

On January 16, 2020, asset manager Fortress, growth capital firm Columbia Capital and Goldman Sachs Asset Management invested in communications company NextNav

Investment Highlights
  • This is Fortress’ 1st, Columbia Capital’s 6th and Goldman Sachs Asset Management’s 1st transaction in the Communications sector.
  • This is Fortress’ 28th, Columbia Capital’s 11th and Goldman Sachs Asset Management’s 7th transaction in the United States.
  • This is Fortress’ 1st, Columbia Capital’s 3rd and Goldman Sachs Asset Management’s 1st transaction in Virginia.
Investment Fate
  • NextNav went public in 2021.

Investment Summary

Date 2020-01-16
Target NextNav
Sector Communications
Investor(s) Fortress
Columbia Capital
Goldman Sachs Asset Management
Deal Type Venture
Advisor(s) PJT Partners (Financial)
Hogan Lovells (Legal)

Target

NextNav

Reston, Virginia, United States
NextNav is a provider of high-precision location services for mobile and wireless applications, delivering accurate positioning indoors and in GPS-challenged environments. NextNav was founded in 2007 and is based in Reston, Virginia.

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Investor(S) 3

Investor

Fortress

New York, New York, United States

Category Asset Manager
Founded 1998
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Fortress is a public investment firm that manages hedge fund, credit, and private equity investments. Fortress' private equity practice primarily makes control-oriented investments in North American and Western European businesses with significant asset-bases and strong cash-flows. Fortress is open to investing in a wide range of sectors, however the Firm has tended towards capital intensive sectors. These include transportation, financials, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The pivate equity group also invests in publicly traded alternative investment vehicles, which Fortress refers to as 'castles' that primarily invest in real estate and real estate related debt. Fortress was formed in 1998 and is based in New York City.


DEAL STATS #
Overall 36 of 49
Sector: Communications M&A 1 of 2
Type: Venture M&A Deals 2 of 3
State: Virginia M&A 1 of 2
Country: United States M&A 28 of 36
Year: 2020 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-14 CoreVest American Finance Lender

Irvine, California, United States

CoreVest American Finance Lender LLC is the lender to residential real estate investors, nationwide. CoreVest offers long-term loans for stabilized rental properties as well as short-term bridge loans and investment credit lines. With more than $6 billion in closed loans and 40,000 units financed, CoreVest offers attractive rates, rapid timelines, and closing certainty. CoreVest works directly with borrowers, brokers and correspondent partners.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-18 TRAC Intermodal

Princeton, New Jersey, United States

TRAC Intermodal is a provider of short-term rentals through an extensive chassis pool network, long-term chassis leasing, and pool & fleet management through the utilization of its proprietary PoolStat® information management system. TRAC Intermodal was founded in 1968 and is based in Princeton, New Jersey.

Sell -
Investor

Columbia Capital

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1989
PE ASSETS 7.1B USD
Size Mega
Type Sector Focused
DESCRIPTION

Columbia Capital is a growth capital firm focused on the IT sector. The Firm looks to commit $15 to $40 million to growth stage North American and Western European companies operating in the enterprise IT, internet infrastructure, and mobile communications sectors. Columbia Capital was established in 1989 and is headquartered in Alexandria, Virginia.


DEAL STATS #
Overall 13 of 26
Sector: Communications M&A 6 of 10
Type: Venture M&A Deals 5 of 10
State: Virginia M&A 3 of 5
Country: United States M&A 11 of 18
Year: 2020 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-18 BillingPlatform

Denver, Colorado, United States

BillingPlatform is a cloud-based revenue management solution enabling enterprises to automate complex billing, subscription, and revenue recognition processes across diverse pricing models. BillingPlatform was founded in 2012 and is based in Denver, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-01 Telarus

Sandy, Utah, United States

Telarus is a technology services distributor that enables advisors to source, quote, and deliver cloud, communications, cybersecurity, and networking solutions, supported by proprietary tools, value-added services, and a global supplier network. Telarus was founded in 2002 and is based in Sandy, Utah.

Buy -
Investor

Goldman Sachs Asset Management

New York, New York, United States

Category Company
Sector Financial Services
DESCRIPTION

Goldman Sachs Asset Management (dba GSAM) is the asset management arm of The Goldman Sachs Group. GSAM offers advisory services to individuals and institutional clients around the world from offices in the US, Europe, and Asia.


DEAL STATS #
Overall 8 of 23
Sector: Communications M&A 1 of 3
Type: Venture M&A Deals 1 of 2
State: Virginia M&A 1 of 1
Country: United States M&A 7 of 19
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-18 Standard & Poor s Investment Advisory Services

New York, New York, United States

Standard & Poor's Investment Advisory Services provides non-discretionary investment advice across institutional sub-advisory and intermediary distribution channels globally. It advises on more than $33 billion in assets across multi-asset, equity and fixed income strategies as of December 31, 2018.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-30 amedes

Gottingen, Germany

amedes offers interdisciplinary medical diagnostic laboratory services for patients, office-based physicians, and hospitals. amedes was founded in 1987 and is based in Gottingen, Germany.

Buy -