The City of Fresno Retirement System (CFRS), with $3.7 billion of assets under management, has committed $30 million to Grain Communications Opportunity Fund (GCOF) IV.
Managed by Grain Management, GCOF IV is seeking $4 billion and will direct funds toward infrastructure opportunities in the telecommunications sector, including investments in broadband, data-center and telecom-tower businesses, reported the Wall Street Journal.
GCOF IV will invest in markets in both the United States and abroad. GCOF III closed in 2021 with $2.25 billion of committed capital, exceeding its $1.5 billion target.
As of June 30, CFRS had 5.7 percent ($210 million) of its portfolio allocated toward infrastructure investments.For more