Grain Management racks up almost $900 mln for fund


Grain Management has closed its fourth fund at nearly $900, beating its $750 million target. Grain Communications Opportunity Fund II LP will focus on mission-critical communications assets, both domestic and abroad. Credit Suisse Securities (USA) LLC was placement agent for GCOF II while Paul, Weiss, Rifkind, Wharton & Garrison served as fund formation counsel.

PRESS RELEASE

WASHINGTON, April 25, 2019 /PRNewswire/ — Grain Management (“Grain”), a leading private equity firm focused on investments in the global communications sector, announced today the closing of its fourth fund, Grain Communications Opportunity Fund II, L.P. (“GCOF II” or the “Fund”), with $899 million in commitments. GCOF II targeted $750 million and closed with excess demand driven by strong, early support from existing limited partners and significant interest from new investors.

Since its founding in 2007, Grain has managed more than $2 billion across its investment vehicles. The formation of GCOF II allows Grain to continue its exclusive focus on opportunities in mission-critical communications assets, both domestic and abroad, and structured equity investments in companies that own and operate them.

“We are excited to announce the fund closing and humbled by the reception GCOF II received from our existing institutional investor base, as well as from our new partners,” said David Grain, Founder and CEO. “In continuation of our strategy, we are thrilled to be delivering value on behalf of these highly-respected allocators, and grateful for their support.” Grain also noted that the firm has already begun deploying capital out of the new fund with the acquisition of Nebraska-based telecommunications provider Great Plains Communications in late 2018.

Credit Suisse Securities (USA) LLC served as the exclusive placement agent for GCOF II and Paul, Weiss, Rifkind, Wharton & Garrison as fund formation counsel.

About Grain Management
Grain Management, LLC is a leading private equity firm focused on investments in the global communications sector. The firm was founded in 2007 with the objective of bringing a differentiated approach to the industry characterized by expansive sector knowledge, rigorous analytics, and dedicated, in-house operating and financial professionals. Grain is directed by a team of highly experienced investment professionals with deep industry knowledge and a specialized skillset, marked by extensive operating history, deep quantitative and analytical proficiency, and regulatory expertise. For more information visit www.graingp.com.