The peer manager uses the Flash Data Storage (FDS) module, which in turn uses the Flash Storage (fstorage) module, which again employs the Softdevice,’s API for storing data in flash.
The FDS registers with fstorage using the highest priority available, meaning its data will be placed at the highest address in flash, underneath the region reserved for the bootloader (if a bootloader is present). By default the FDS reserves 3 pages of flash (defined in sdk_config.h, minimum is 2), where 1 page is used for garbage handling, the rest is used for storage. The location of the stored data within the reserved memory is based on a first come first serve principal, so data location is not sorted based on user. The size of the data from the peer manager varies with what data it needs to store.
If you use FDS to store your custom data it will be stored in the same reserved flash area where the peer manager data is stored.
For more information please see the following pages on Nordic Infocenter
Peer Manager: infocenter.nordicsemi.com/.../lib_peer_manager.html
Flash Data Storage: infocenter.nordicsemi.com/.../lib_fds.html
Flash Storage: infocenter.nordicsemi.com/.../lib_fstorage.html