The Illinois Firefighters’ Pension Investment Fund (FPIF) has committed $35 million to TPG Peppertree Fund XI, a program of TPG Angelo Gordon.
TPG Peppertree Fund XI is a closed-end, opportunistic strategy. In the United States, the fund invests in communication infrastructure companies. Internationally, the fund focuses on investing in companies that own the towers, the wireless spectrum and the fiber networks that power mobile networks.
The Oklahoma Teachers’ Retirement System committed $150 million to this fund earlier in 2026.
The Illinois FPIF, a public pension fund, had $12 billion in total assets under management as of Sept. 30. As of Sept. 30, 2025, the fund had $151.2 billion in total infrastructure assets, with a 5 percent infrastructure allocation target.
