Grain Management raises $1.6bn

The Washington, DC-based asset manager has raised capital for its North American infrastructure fund.

Fund name: Grain Spectrum Holdings III
Amount raised: $1.6 billion
Target size: $1.5 billion

Grain Management has raised $1.6 billion for Grain Spectrum Holdings III, according to recent US Securities and Exchange Commission filings. The fund has exceeded its target size of $1.5 billion and will focus on infrastructure opportunities in North America. It is unclear whether this is a final close or if the fund manager is seeking further capital.

Since its launch, the fund has attracted commitments from several institutional investors, including $60 million from the Los Angeles County Employees’ Retirement Association.