Peppertree: Acquired by TPG, Culminating AMG Partnership
Deal News | May 06, 2025 | Globenewswire
In a significant transaction, AMG has agreed to sell its equity interest in Peppertree Capital Management to TPG. This marks the successful culmination of AMG’s partnership with the infrastructure-focused investment firm. Since AMG's minority acquisition in Peppertree, the firm has benefitted from the mutual strategic guidance and capital formation support of AMG, leading to significant growth. Co-Presidents Ryan Lepene and Howard Mandel lauded AMG’s role in enhancing Peppertree’s business and achieving strategic goals. TPG's acquisition aligns with its strategy to bolster investments in infrastructure, highlighted by a total consideration of approximately $240 million, consisting of cash and shares. The transaction is set to close in the third quarter of 2025, subject to customary conditions, signaling a new chapter for Peppertree under TPG’s ownership.
Sectors
- Investment Management
- Digital Infrastructure
Geography
- United States – Both AMG and Peppertree are based in the United States, and the transaction involves U.S.-based companies.
Industry
- Investment Management – This pertains to the industry involving AMG, which is a strategic partner to independent investment management firms.
- Digital Infrastructure – Peppertree Capital Management focuses on digital infrastructure investments, particularly in wireless communications towers.
Financials
- $240 million – Total consideration for the transaction includes cash and TPG Class A shares.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Peppertree Capital Management, Inc. | Target Company | Company | A leading specialized digital infrastructure investment firm, focusing on wireless communications towers. |
| TPG Inc. | Bidding Company | Company | A global investment company acquiring Peppertree Capital Management. |
| AMG (Affiliated Managers Group, Inc.) | Selling Company | Company | A strategic partner and minority stakeholder in Peppertree, selling its equity interest. |
| Ryan Lepene | Co-President | Person | Co-President of Peppertree Capital Management. |
| Howard Mandel | Co-President | Person | Co-President of Peppertree Capital Management. |
| Jay C. Horgen | President and CEO | Person | President and Chief Executive Officer of AMG. |
| Patricia Figueroa | Media & Investor Relations | Person | Handles Media & Investor Relations for AMG. |