NEW YORK, Oct. 3, 2012 /PRNewswire/ -- Avista Capital Partners today announced that Phil Seskin has joined the firm as an Industry Executive in the communications vertical. Mr. Seskin was most recently Senior Vice President of Corporate Development at Verizon Communications. During more than two decades at Verizon, Mr. Seskin was instrumental in building new companies and creating shareholder value through mergers, acquisitions, joint ventures, organic investment, operating initiatives, and divestitures, totaling over $150 billion in the United States, Europe, Latin America and Asia.
Thompson Dean, Co-Managing Partner and Chief Executive Officer of Avista, said, "We are thrilled to welcome Phil to Avista. In addition to a deep financial and transactional background, from his time at Verizon he brings a uniquely broad communications perspective, including expertise in enterprise fiber, datacenters/managed services, wireless and cable. I am confident he will be a great fit with our team and a key contributor to the success of our growing communications & media portfolio."
Mr. Seskin said, "I am delighted to be joining Avista. This new role will allow me to apply my experience at Verizon in a vibrant new context. I look forward to working with the firm's investment professionals and management teams to identify and execute attractive new deals, while optimizing operations within our existing portfolio."
At Verizon, Mr. Seskin worked on initiatives that spanned more than 20 countries and involved strategy, acquisitions, operations, valuation, cross-border currency, taxation and regulatory issues. He also played a significant role in securing board, regulatory, and other necessary approvals in transactions. Prior to his role as Senior Vice President of Corporate Development, he held a number of positions at Verizon, including Vice President, Corporate Development; Managing Director, Mergers and Acquisitions; and Managing Director, Financing Planning and Investment Analysis. He also led Verizon Strategic Investments, the company's venture capital operation.
In connection with his new role, Mr. Seskin has joined the Board of Directors of DataBank Holdings, an Avista portfolio company that provides premium enterprise-class managed data center space and services. He also serves on the boards of Big Brothers and Big Sisters of New York City and New York Downtown Hospital.
About Avista Capital Partners
Avista Capital Partners is a leading private equity firm with over $4 billion under management and offices in New York, Houston and London. Founded in 2005, Avista's strategy is to make controlling or influential minority investments in growth-oriented energy, healthcare, communications & media, industrials and consumer businesses. Through its team of seasoned investment professionals and industry experts, Avista seeks to partner with exceptional management teams to invest in and add value to well-positioned businesses. For more information visit www.avistacap.com.
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SOURCE Avista Capital Partners