Connecticut state treasurer Erick Russell has announced a $150 million investment in Grain Communications Opportunity Fund IV (GCOF IV) on behalf of the state’s real assets portfolio.
In May, the pension fund reported it was the commitment, which would expand the Connecticut Retirement Plans and Trust Funds’ (CRPTF) existing relationship with Grain Management. In 2021, the pension fund committed a total of $125 million to Grain Communications Opportunity Fund III and Grain COF III Co-Invest.
GCOF IV is a closed-end communications fund with a $4 billion target. The vehicle will continue the strategy of its predecessor funds, directly acquiring assets in the communications industry and/or control equity positions in operating companies that exhibit the same underlying fundamentals as infrastructure assets. Primary subsectors of interest include fiber, spectrum, data centers and towers. Additional subsectors include communication sites and related managed services.
