Illinois Firefighters’ Pension Investment Fund commits $35M to TPG Peppertree Fund XI

Type: Investment · Technology: Telecom · Country: United States · Value: $35M · Announced: 2026-10-01

The Illinois Firefighters’ Pension Investment Fund committed $35 million on 2026-10-01 to TPG Peppertree Fund XI, a closed-end opportunistic fund managed by TPG Angelo Gordon. TPG Peppertree Fund XI invests in communication infrastructure in the United States and in towers, wireless spectrum and fiber networks internationally. The article notes the Oklahoma Teachers’ Retirement System previously committed $150 million to the same fund earlier in 2026. As of Sept. 30, 2025, the Illinois FPIF had $12 billion in total assets under management and reported $151.2 billion in total infrastructure assets with a 5 percent infrastructure allocation target. No project capacity or project-level specifics, timelines, or financing structure were disclosed in the article.

Analysis

The Illinois Firefighters’ Pension Investment Fund committed $35 million to TPG Peppertree Fund XI on 2026-10-01. TPG Peppertree Fund XI is a closed‑end opportunistic fund managed by TPG Angelo Gordon that invests in communication infrastructure in the United States and in towers, wireless spectrum and fiber networks internationally. The Oklahoma Teachers’ Retirement System previously committed $150 million to the same fund earlier in 2026. As of September 30 2025, the Illinois Firefighters’ Pension Investment Fund reported $12 billion in total assets under management and $151.2 billion in total infrastructure assets with a 5 percent infrastructure allocation target. No project‑level, financing‑structure or timeline details were disclosed.

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