Connecticut State Treasurer Shawn Wooden has announced plans to commit $75 million to Grain Communications Opportunity Fund III (GCOF III), in addition to $50 million in a “sidecar” vehicle for co-investments with Grain.
GCOF III opened to investors in December 2020. The fund will focus on opportunities in mission-critical communications assets, both domestic and abroad, and structured equity investments in companies that own and operate them.
An equity fundraising target has not been disclosed; however, the fund’s predecessor, Grain Infrastructure Fund II, raised $240 million in 2012. Prior to that, the first fund in the series, Grain Infrastructure Fund, raised $135 million.
“Despite heightened market volatility that dominated the markets in 2020 and are