News Wire Feed Light Reading 4/6/2021
WASHINGTON, DC Grain Management ( Grain or the Firm ), a leading private investment firm focused on broadband technology and the global communications sector, announced today the closing of its flagship fund, Grain Communications Opportunity Fund III, L.P. ( GCOF III ), with $2.25 billion in commitments, exceeding its target of $1.5 billion. Grain is also pleased to announce the closing of its third spectrum-focused investment vehicle, Grain Spectrum Holdings III, L.P. ( GSH III and together with GCOF III, the Funds ). GSH III closed quietly on $1.5 billion of commitments in September 2020, exceeding its $1.0 billion target. The Funds attracted excess demand driven by strong, early support from existing limited partners and significant interest from new investors on a global scale.
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Paul Weiss-Advised PE Shop Clinches Funds Totaling $3.75B
Law360 (April 6, 2021, 12:00 PM EDT) Communications sector-focused private equity firm Grain Management LLC, represented by Paul Weiss Rifkind Wharton & Garrison LLP, has raised a total of $3.75 billion across two funds with plans to target investment opportunities in areas including broadband and 5G networks, the firm said Tuesday.
The Washington, D.C.-based firm s third flagship investment vehicle, Grain Communications Opportunity Fund III LP, closed after amassing $2.25 billion from limited partners after surpassing its original $1.5 billion target, the firm said in a statement. The other fund, billed as Grain Spectrum Holdings III LP, closed above its $1 billion goal, notching $1.5 billion. It will focus.
Fairfax County Educational Employees discloses $61 million in commitments
Fairfax County Educational Employees Supplementary Retirement System, Springfield, Va., disclosed three new commitments totaling $61 million.
The $3 billion pension fund s alternatives consultant, Meketa Investment Group, disclosed the commitments at the pension fund s remote board meeting on Jan. 22, a video of the meeting shows.
The pension fund committed $43 million to Carlyle Property Investors, an open-end core-plus real estate fund managed by
Carlyle Group; $15 million to J.P. Morgan Infrastructure Investments Fund, an open-end infrastructure fund managed by
J.P. Morgan Asset Management; and $3 million to Grain Communications Opportunity Fund III, a communications infrastructure fund managed by
Baltimore City Fire & Police commits $15 million to infrastructure fund
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The $3.1 billion pension fund s board approved the commitment to the communications infrastructure fund managed by
Grain Management at its Jan. 19 meeting, spokeswoman Amy Baskerville said in an email.
The pension fund previously committed $8 million to Grain Communications Opportunity Fund II in 2018.
As of Jan. 31, the actual allocation to real assets was 13.7%.
Investment consultant NEPC assisted.
Illinois Teachers chalks up $1.3 billion in investments, commitments
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Illinois Teachers Retirement System, Springfield, invested or committed a total of $1.3 billion to nine investment strategies and terminated four traditional investment firms managing $1.1 billion, news from virtual investment committee and full board meetings Thursday and Friday showed.
The largest commitment from the $57.6 billion pension fund was $400 million to private equity specialist
Adams Street Partners, a new manager for TRS.
The firm will evenly split the allocation between separately managed accounts that will invest in strategies managed by other private equity managers based in Europe and the Asia-Pacific region. TRS retains approval of Adams Street s recommended investments.