Peppertree Capital

Peppertree Capital Management, Inc. is a private equity firm primarily focused on making investments in growing communication infrastructure companies, both in the United States and internationally. Peppertree’s core investment thesis is that the demand for data will overwhelm wireless networks for the foreseeable future. Peppertree was formed in 2004 and is currently investing out of its ninth private equity fund and an evergreen debt fund. As of DEc. 2023, Peppertree has more than $4.75B under management and has made more than 140 investments in communication infrastructure companies in 12 countries. In addition to sponsoring tower, DAS and communication rooftop developers, fiber network operators and spectrum auction participants, Peppertree seeks investments in real estate related to its areas of focus, non-telecom infrastructure projects and other businesses and assets with contractually recurring revenue.

The company was acquired by TPG in May 2025.