Former Chairman of the FCC brings significant TMT experience to Searchlight
Searchlight Capital Partners, L.P. ("Searchlight" or "the Firm"), a leading global private investment firm, today announced the appointment of Ajit Pai, former Chairman of the U.S. Federal Communications Commission ("FCC"), as a Partner and a prospective board member of a number of Searchlight’s existing investments in the technology, media, and telecommunications ("TMT") sectors.
Mr. Pai brings deep expertise in TMT, having spent nine years in leadership roles at the FCC. Mr. Pai first joined the FCC as a Commissioner in 2012, after being nominated by President Barack Obama and confirmed unanimously by the U.S. Senate. In 2017, he was designated Chairman by President Donald Trump and was again confirmed by the Senate.
During his tenure as Chairman of the FCC, Mr. Pai advanced major initiatives to help close the digital divide, advance U.S. leadership in 5G and other wireless technologies, promote innovation, protect consumers, public safety, and national security, and make the agency more open, transparent, and diverse. Earlier in his career, Mr. Pai served in various positions at the U.S. Department of Justice and the U.S. Senate. Before joining the FCC, he worked as a Partner at the law firm of Jenner & Block and as in-house counsel at Verizon Communications.
"TMT has always been a core focus at Searchlight and in recent years we have seen the opportunities in these sectors grow, a trend accelerated by the COVID-19 pandemic," said Eric Zinterhofer, a Founding Partner of Searchlight. "Given our strong presence in this space and Ajit’s distinguished career in the industry, we are excited to welcome him as our newest partner. His outstanding accomplishments at the FCC had a material impact on the broadband, wireless, and broadcast sectors, and his deep knowledge will be invaluable in accelerating our efforts in TMT and digital infrastructure."
Commenting on his new role, Mr. Pai added: "I am excited to join the Searchlight team and help build on the firm’s demonstrated success in the technology media, and telecommunications sectors, especially with respect to digital infrastructure—an area that is essential to consumers and businesses in the United States and around the world. Searchlight’s flexible investment strategy and partnership-driven approach have distinguished it from its peers, allowing the firm to capitalize on opportunities that provide value for its clients and the companies it invests in. I look forward to joining Eric, Erol, and Oliver, and contributing to the firm’s continued investment efforts."
About Searchlight Capital Partners, L.P.
Searchlight is a global private investment firm with over $8 billion in assets under management and offices in New York, London and Toronto. Searchlight seeks to invest in businesses where its long-term capital and strategic support accelerate value creation for all stakeholders. For more information, please visit www.searchlightcap.com.
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