TPG Peppertree, a subsidiary of TPG Inc., has announced a commitment of up to $1 billion to Connected Infra Group, a South Florida‑based telecom and technology infrastructure company. The partnership will provide capital to grow Connected Infra Group’s national portfolio of telecommunications real‑estate assets, including towers and related infrastructure, and is a future event that will be executed over the coming months.
TPG Peppertree was created after TPG’s 2025 acquisition of Peppertree Capital Management, a firm that specializes in wireless communications towers. The new partnership aligns with TPG’s broader strategy to deepen its presence in the digital infrastructure sector, complementing its existing portfolio of wireless communication towers and leveraging its credit and real‑estate platforms.
Connected Infra Group, founded and led by Bernard Borghei, has built a national network of telecom real‑estate assets. Borghei, who has more than 32 years of industry experience and previously held executive roles at Global Tower Partners and co‑founded Vertical Bridge, said he was "thrilled" about the partnership, noting that the $1 billion commitment provides a strong financial foundation for the company’s expansion plans.
TPG Inc. reported strong Q4 2025 results on February 5, 2026, with earnings per share of $0.71 versus estimates of $0.66, and fee‑related revenue of $2.1 billion, up 36% year‑over‑year. The firm also raised a record $51 billion in 2025 and projected more than $50 billion in 2026, underscoring the financial capacity that underpins the new investment.
The partnership positions TPG and Connected Infra Group to capitalize on robust tailwinds in the telecom infrastructure market, driven by 5G deployment and data‑center expansion. By expanding its national tower portfolio, Connected Infra Group can meet growing demand for connectivity, while TPG gains a foothold in a high‑growth, fee‑stable asset class that complements its credit and real‑estate platforms.
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