Peppertree Capital Management, Inc. is a private equity firm 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 the wireless networks for the foreseeable future. Our mission is to discover ways to capitalize on that thesis, including by investing in companies that own the towers, the wireless spectrum and the fiber networks that make your mobile phone work.
Peppertree was formed in 2004 and is currently investing out of its tenth private equity fund and an evergreen debt fund. Peppertree has more than $6.5B under management and has made more than 170 investments in communication infrastructure companies in 14 countries. Virtually all of our capital is from institutional investors including insurance companies and university endowments.
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.
Peppertree is primarily a growth equity investor, but we are willing to consider other types of transactions as well as investments structured at any place in the capital stack.
Unlike most capital sources, we are willing to provide as little as a few million dollars to companies that have potential. We have also provided several hundred million dollars to companies that continue to grow. Our style is hands-on and patient.
Experience, focus and consistency matter. Peppertree’s team has been operating and investing in communication infrastructure companies since 1997. The Co-Presidents have been partners since Peppertree’s inception in 2004.
We have a rigorous expectation of excellence. Our team is comprised of high integrity people with outstanding academic and operating credentials.
Ryan is Co-President of Peppertree Capital Management, Inc. Prior to joining Peppertree, he worked in investment banking with both Salomon Smith Barney and Brown Gibbons Lang & Company. Previously, Ryan was employed by Lehman Brothers and PricewaterhouseCoopers.
Ryan earned his BS degree from The Ohio State University and his MBA from the Yale School of Management.
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Howard is Co-President of Peppertree Capital Management, Inc. Prior to forming Peppertree, he was a partner with Tregan Partners where he focused on telecommunications and media. Previously, Howard was a co-founder of OmniAmerica, Inc., one of the first publicly-held tower companies. Prior to the formation of OmniAmerica, he spent more than ten years as a transactional attorney with Thompson Hine LLP, the latter years as a partner.
Howard earned his BS degree from The Ohio State University and his JD from Cornell Law School.
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John is a Managing Director of Peppertree Capital Management, Inc. Prior to joining Peppertree, he served as Chief Financial Officer for each of Open Mobile (San Juan, Puerto Rico), Revol Wireless (Cleveland, OH), Affinity Internet (Fort Lauderdale, FL), and Redfern Broadband Networks (Sydney, Australia). John started his career in the Mergers & Acquisitions Department of Morgan Stanley.
John earned his BA degree at Dartmouth College and his MBA from The Wharton School of Business.
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Daniel is a Managing Director of Peppertree Capital Management, Inc. Prior to joining Peppertree, he was an investment professional at Magnetar Capital. Previously, Daniel worked in investment banking with Morgan Stanley.
Daniel earned his BSE in Industrial and Operations Engineering and MS in Financial Engineering, both from the University of Michigan.
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Arnoud is a Managing Director of Peppertree Capital Management, Inc. Prior to joining Peppertree, he served as Senior Vice President, Corporate Development for Uniti Group. Previously, Arnoud worked in business development and finance with Softcard (a joint venture between AT&T, Verizon, and T-Mobile) and started his career in investment banking with Stephens Inc.
Arnoud earned his BS degree from McNeese State University and his MSF from Louisiana State University.
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Jack joined Peppertree Capital Management, Inc. in 2012 after graduating from The Dyson School of Applied Economics and Management at Cornell University. After earning his MBA from The Kellogg School of Management at Northwestern University, Jack returned to Peppertree as a Vice President.
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Sean joined Peppertree Capital Management, Inc. in 2013. Previously, he was a Business Technology Analyst with Deloitte Consulting.
Sean earned his BS degree from Case Western Reserve University in Management with a Concentration in Finance.
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Mark is an Assistant General Counsel of Peppertree Capital Management, Inc. Prior to joining Peppertree, Mark was an attorney at Jones Day and Calfee, Halter & Griswold where he focused his practice on private equity, mergers and acquisitions, corporate restructurings and other strategic transactions.
Mark received his BBA degree in Accounting from the University of Notre Dame and his JD from The Ohio State University.
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Caroline joined Peppertree Capital Management, Inc. in 2018 as an Analyst after graduating from Washington University in St. Louis with a BA in Economics and Spanish.
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Tom joined Peppertree Capital Management, Inc. in 2021 as a Senior Analyst. Prior to joining Peppertree, he was an investment professional at Zimmer Partners. Previously, Tom worked in investment banking with Lazard.
Tom earned his BS in Finance and Operations Information Management from Georgetown University.
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Danny joined Peppertree Capital Management, Inc. in 2021 as a Senior Analyst. Prior to joining Peppertree, he worked at Keybanc Capital Markets in the Utilities, Power & Renewable Energy group.
Danny earned his BA in Mathematics and Finance from Yeshiva University.
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Grant joined Peppertree Capital Management, Inc. in 2020 as an Analyst after graduating from The Ohio State University with a BA in Finance and a minor in Real Estate.
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Ryan joined Peppertree Capital Management, Inc. in 2021 as an Analyst after graduating from Case Western Reserve University with a BA in Economics and MS in Finance.
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Tyler joined Peppertree Capital Management, Inc. in 2023 as an Analyst after graduating from Indiana University with a BS in Finance and a Co-Major in Business Analytics.
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Malachy joined Peppertree Capital Management, Inc. in 2024 as an Analyst after graduating from the University of Virginia with a BS in Commerce, concentrating in Finance and Management, and a minor in Economics.
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Jack joined Peppertree Capital Management, Inc. in 2024 as an Analyst after graduating from The Ohio State University with a BSBA in Finance and Real Estate.
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Cyndi joined Peppertree Capital Management, Inc. in 2010 and is the firm’s Chief Operating Officer and Chief Compliance Officer. Prior to joining Peppertree, Cyndi served for eight years as Chief Financial Administrator for the Ohio and Vicinity Regional Council of Carpenters. Prior thereto, she spent more than 10 years with Deloitte & Touche LLP where she rose to the level of Senior Manager, Assurance and Advisory Services.
Cyndi holds an MBA from Lake Erie College and a BA in Accounting from Notre Dame College. She was awarded the Certified Public Accounting designation in 1993 and currently holds a CPA license issued by the Accountancy Board of Ohio. Cyndi is a member of the American Institute of Certified Public Accountants and the Ohio Society of Certified Public Accountants.
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Joe joined Peppertree Capital Management, Inc. in 2023 as Chief Financial Officer. Prior to joining Peppertree, Joe spent over 6 years at The Riverside Company, most recently as an Associate Director, Finance. He began his career at EY, specializing in the Banking and Capital Markets assurance practice (EY FSO BCM).
Joe earned his BS in Accounting from Miami University and his MS in Accounting from The University of Akron. He currently holds a CPA license issued by the Accountancy Board of Ohio.
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Abigail joined Peppertree Capital Management, Inc. as a Controller in 2021. Prior to joining Peppertree, Abigail worked as a Fund Controller at The Townsend Group. Previously, Abigail worked at Ernst & Young, specializing in the Wealth and Asset Management assurance sector (EY FSO WAM).
Abigail earned her BS in Accounting from Touro College in 2018. She earned the Certified Public Accountant designation in 2019 and currently holds an active CPA license issued by the Accountancy Board of Ohio. Abigail is a member of the American Institute of Certified Public Accountants (AICPA).
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Nicole joined Peppertree Capital Management, Inc. as an Assistant Controller in 2023. Prior to joining Peppertree, Nicole worked as a Senior Tax Accountant at Cohen & Company.
Nicole earned her BS in Accounting and MBA from John Carroll University. She earned the Certified Public Accountant designation in 2020 and actively holds a CPA license issued by the Accountancy Board of Ohio. Nicole is a member of the American Institute of Certified Public Accountants (AICPA) and the Ohio Society of Certified Public Accountants.
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Theresa joined Peppertree Capital Management, Inc. as a Senior Fund Accountant in 2024. Prior to joining Peppertree, Theresa worked as a Senior Audit Associate at Grant Thornton, LLP. Theresa earned her BS in Accounting from The Ohio State University.
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Janet joined Peppertree Capital Management, Inc. in 2014. Prior to joining Peppertree, Janet spent five years as a Business Unit Controller at Avery Dennison and 12 years with Rockwell Automation. She began her career with Deloitte & Touche.
Janet earned her BS degree in Accounting from Duquesne University in Pittsburgh in 1988. She earned the Certified Public Accountant designation in 1991 and currently holds an active CPA license.
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Audrey joined Peppertree Capital Management, Inc. 2016. Prior to joining Peppertree, Audrey spent five years as the Controller at Joseph Industries Inc. and six years with FFR-DSI, Inc.
Audrey earned her BS in Accounting from Georgetown College in 1990. She earned the Certified Public Accountant designation in 2009 and currently holds an active CPA license. Audrey is a member of the Ohio Society of Certified Public Accountants.
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Ben joined Peppertree Capital Management, Inc. 2020. Prior to joining Peppertree, Ben worked as a Senior Accountant at both Sotera Health LLC and Applied Industrial Technologies.
Ben earned his BS in Accounting from Cleveland State University in 2013. He earned the Certified Public Accounting designation in 2015 and currently holds an active CPA license issued by the Accountancy Board of Ohio.
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Cheryl joined Peppertree Capital Management, Inc. as a Controller in 2023. Prior to joining Peppertree, Cheryl worked at Parker Hannifin Corporation for 22 years as Financial Team Leader.
Cheryl earned her BS in Accounting from John Carroll University and her MBA from Baldwin Wallace College.
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Chong joined Peppertree Capital Management, Inc. as an Assistant Controller in 2021. Prior to joining Peppertree, Chong worked as a Manager of Financial Services-Disbursement at Carlisle Brake & Friction.
Chong earned his BS in Accounting from Kansas State University and currently holds an active CPA license issued by the Accountancy Board of Wisconsin.
Chong earned the Chartered Global Management Accountant designation in 2012 and is a member of the American Institute of Certified Public Accountants and the Wisconsin Institute of Certified Public Accountants.
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Michael joined Peppertree Capital Management, Inc. as an Assistant Controller in 2022. Prior to joining Peppertree, Michael worked as a Plant Controller for PolyOne and as a Senior Financial/Cost Analyst for Avery Dennison/CCL Industries.
Michael earned his BS in Finance from Miami University.
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Vivian joined Peppertree Capital Management, Inc. as a Senior Accountant in 2024. Prior to joining Peppertree, Vivian worked in multiple accounting and project management roles, most recently as the Accounting Manager for Winston Products.
Vivian earned her Master of Financial Accounting degree from Cleveland State University.
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Diane is General Counsel of Peppertree Capital Management, Inc. Prior to joining Peppertree, she was a transactional attorney for more than 20 years at Thompson Hine LLP and focused her practice on the financing and acquisition of telecommunication and real estate assets.
Diane received her BA degree from the College of Wooster, her MLS from Kent State University, and her JD from Cleveland Marshall College of Law.
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Scott is an Assistant General Counsel of Peppertree Capital Management, Inc. Prior to joining Peppertree, he was an Associate in the real estate group at Jones Day where he focused his practice on acquisitions and dispositions of industrial, office, and retail projects, financing and refinancing of real estate assets, and commercial leasing and subleasing.
Scott received his BA and JD degrees from Cleveland State University.
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Sydney is an Assistant General Counsel of Peppertree Capital Management, Inc. Prior to joining Peppertree, she was an Associate at Walter Haverfield where she focused her practice on transactions related to the development and redevelopment of commercial properties, financing and refinancing of real estate assets and commercial leasing and subleasing.
Sydney received her BA from SUNY Fredonia and her JD from Case Western Reserve University School of Law.
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Aileen is an Assistant General Counsel of Peppertree Capital Management, Inc. Prior to joining Peppertree, she practiced law for over 20 years in both private practice and as in-house counsel, focusing on commercial real estate, telecommunication infrastructure, corporate matters and low income housing tax credit (LIHTC) syndication.
Aileen received her BA from John Carroll University and her JD from Case Western Reserve University School of Law.
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Leslie is an Assistant General Counsel of Peppertree Capital Management, Inc. Prior to joining Peppertree, she served as in-house counsel focusing on corporate transactions and compliance. Prior to moving to in-house counsel, she gained more than 10 years of experience as a litigation attorney in private practice focusing on complex civil matters including environmental, land use, and real estate.
Leslie received her BA from Duke University, Master of Urban and Regional Planning from the University of New Orleans, and JD degree from Seattle University.
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Katie joined Peppertree Capital Management, Inc. in 2022 as an Accounts Receivable Specialist.
Prior to joining Peppertree, Katie gained more than 18 years of accounts receivable experience as a billing clerk and as an office assistant.
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Lisa joined Peppertree Capital Management, Inc. in 2023 as an Accounts Receivable Specialist.
Prior to joining Peppertree, Lisa gained more than 15 years of accounts receivable experience and worked as an administrative assistant.
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William joined Peppertree Capital Management, Inc. in 2023 as an Accounts Payable Specialist.
Prior to joining Peppertree, William gained more than five years of accounts payable and purchasing experience and worked as a Financial Technician for the US Marine Corps.
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Ricky joined Peppertree Capital Management, Inc. in 2023 as an Operations Administrative Assistant. Prior to joining Peppertree, Ricky held multiple positions with Case Western Reserve University and Kent State University focused on student advancement and engagement.
Ricky earned his M.Ed from Kent State University and BA from Indiana University.
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Chagrin Falls, Ohio 44022
Phone: 440.528.0333
Fax: 440.528.0334
Email: info@peppertreecapital.com
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