Pennybacker Celebrates 20 Years of Real Assets Investing

Texas-based firm marks two decades of disciplined investing and long-term partnerships.

Published on Feb. 10, 2026

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Pennybacker Capital Management, a Texas-based real assets investment manager, is celebrating its 20th anniversary. Founded in 2006, the firm has expanded from a Texas-focused real estate investor into a diversified real assets manager overseeing approximately $4.9 billion in assets under management. Pennybacker's innovation-led approach is supported by sustained investment in technology, analytics, and in-house data science capabilities.

Why it matters

Pennybacker's milestone highlights the firm's ability to adapt and grow over two decades, navigating market cycles while maintaining a disciplined, data-driven investment strategy. As a prominent Texas-based investment manager, Pennybacker's longevity and expansion into national real estate and infrastructure investments reflects the state's continued economic strength and appeal as an investment destination.

The details

Pennybacker was founded in 2006 by Tim Berry and named after the iconic Pennybacker Bridge in Austin. Over the past 20 years, the firm has expanded its real assets investment strategies beyond Texas real estate into a diversified portfolio across real estate and infrastructure. Pennybacker has executed 218 investments, including 125 realizations, and now oversees approximately $4.9 billion in assets. The firm's innovation-led approach is anchored by its proprietary data ecosystem, Pennybacker αlpha, which integrates internal and external data to support investment decision-making.

  • Pennybacker was founded in 2006.
  • 2026 marks the firm's 20th anniversary.

The players

Pennybacker Capital Management, LLC

A Texas-based real assets investment manager that was founded in 2006 and has grown to oversee approximately $4.9 billion in assets under management.

Tim Berry

The founder, CEO, and Co-Chief Investment Officer of Pennybacker Capital Management.

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What they’re saying

“I'm proud to celebrate 20 years of excellence with this team. The Pennybacker Way is rooted in our three T's – teachers, tenants, and team – which shape how we invest, how we operate, and how we partner. As we look ahead, our culture and long-standing relationships continue to guide our disciplined, data-driven approach and sustained alignment with our valued partners across market cycles.”

— Tim Berry, Founder, CEO, and Co-Chief Investment Officer

The takeaway

Pennybacker's two-decade milestone demonstrates the firm's ability to adapt and thrive in the real assets investment space, leveraging technology, data, and long-term partnerships to navigate market cycles and deliver consistent results for its investors.