Fundraising Fox

Pennybacker

Private equity

Austin · 20 people tracked

Also known as Pennybacker Capital Management, Llc

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Investment thesis

Pennybacker invests in real estate and infrastructure enhancement opportunities across the United States, aiming to produce strong returns by applying operational experience, near real-time insights, and predictive analytics to optimize property values and portfolio performance. The firm partners with management teams in underserved and lower-to-middle markets to grow contracted, real-asset intensive operating businesses and to capitalize on converging market tailwinds. It combines boots-on-the-ground experience with proprietary technology that predicts trends and optimizes portfolios, cultivating diverse perspectives and deep experience to spot opportunity, mitigate risk, and adapt across market cycles.

Invests inPropTechAustinUnited States

Source: firm website, verified Aug 6, 2026.

HQ
Austin, TX, US
Instruments
Equity · Debt
Founded
2006
AUM
$4B

Team · 20 people

from the firm's website

Fund performance · per public LP disclosures · 3

as of Dec 2025
FundVintageCommittedNet IRRTVPIDPI
PENNYBACKER EIVLPs: Texas Municipal Retirement System, University of Texas Investment Management Company-0.7%0.98x
PENNYBACKER V LPLPs: Texas Municipal Retirement System, University of Texas Investment Management Company1.9%1.07x0.16x
PENNYBACKER VI LPLPs: Texas Municipal Retirement System, Kern Family Foundation, University of Texas Investment Management Company5.5%1.07x0.00x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

What sectors does Pennybacker focus on?
Pennybacker focuses on PropTech.
Where is Pennybacker located?
Pennybacker is headquartered in Austin, US.

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