FRS Trust Fund confirms $150m commitment

The US public pension has backed Grain Management's flagship digital infrastructure vehicle.

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Institution: Florida Retirement System Trust Fund
Headquarters: Tallahassee, US
AUM: $182.57 billion
Allocation to alternatives: 27.10%

Florida Retirement System Trust Fund has approved a commitment of $150 million to Grain Communications Opportunity Fund III, according to the Q1 transaction report published on the pension’s website.

The digital infrastructure fund managed by Grain Management held its final close in March 2021, after raising $2.25 billion in commitments, exceeding the $1.5 billion target size. Previously, FRS Trust had committed $100 million to Grain Spectrum Holdings III, in the fourth quarter of 2020.

The $182.57 billion public pensions currently invest in infrastructure through the 9.2  percent strategic investment section of its full investment portfolio.

As illustrated below, FRS Trust fund’s recent commitments have predominantly targeted global unlisted vehicles across energy, renewables and digital infrastructure.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.