Communication infrastructure-focused private equity firm Peppertree Capital Management Inc. made a $300 million equity commitment to fund the future growth of TowerCo LLC.

Cary, N.C.-based TowerCo develops and operates tower infrastructure for wireless services providers in the U.S. It retained its assets as part of the partnership deal, with the majority of its management team staying intact and Todd Boyer taking over as CEO.

Alpina Capital LLC was the exclusive financial adviser to the TowerCo V management team.