CRPTF mulls $150m commitment to Grain Communications Opportunity Fund
Investors - MAY 11, 2023

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CRPTF mulls $150m commitment to Grain Communications Opportunity Fund

by Kali Persall

The Connecticut Retirement Plans and Trust Funds (CRPTF) is considering a $150 million investment in Grain Communications Opportunity Fund IV (GCOF IV), a closed-end communications fund managed by Grain Management.

GCOF IV has a $4 billion target and 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.

Given the current market opportunity set, GCOF IV expects 75 percent of the portfolio to be in North America, with no more than 33 percent of aggregate capital outside of North America.

Grain has an existing relationship with CRPTF. In 2021, the pension fund committed a total of $125 million to Grain Communications Opportunit

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