Grain Management, a company that invests in cell towers as wireless communications infrastructure, along with fiber networks and radio-frequency spectrum for commercial wireless communications, has hired Craig Phillips as its managing director and chief operating and growth officer, the company disclosed. It said Phillips would work with Grain’s executive leadership team to manage many of the firm’s day-to-day operations, develop the systems and infrastructure needed to scale up the business, and improve the firm’s investment results.
According to Grain Management, Phillips came to the company from the U.S. Department of the Treasury, where he served as a counselor to the secretary of treasury and he fulfilled the duties of the undersecretary for domestic finance. Grain Management said he previously held the role of managing director at BlackRock where he served on the firm’s Operating Committee. Prior to BlackRock, he served as a managing director at Morgan Stanley, the company said.
“Having known Craig for over 25 years and seeing firsthand how effectively he has guided leaders and organizations, I am quite pleased to welcome him to the Grain team,” said David Grain, founder and CEO of Grain Management. “Given the recent expansion of our firm and the increased scale of our portfolio, it was an easy decision to bring Craig aboard.”
Phillips said he was drawn to Grain Management’s expertise in telecommunication and other digital infrastructure and services.
“I see a great runway ahead for the firm, aided by significant tailwinds — continued innovation, rapidly growing demand and public policy rightfully aimed at promoting greater access to broadband services in the United States and abroad.”
While at BlackRock, Phillips founded BlackRock’s Financial Market Advisory group, a global risk consulting practice that advises regulators, central banks, financial institutions and other institutional investors on their most critical complex financial and portfolio issues, according to Grain Management. The company said Phillips also led BlackRock’s Client Solutions Group, which Grain Management said developed customized investment solutions for a wide range of the firm’s clients.
As a private investment firm, Grain Management focuses on communications infrastructure and technology companies that connect the world to the information economy, a statement from the company reads.
“Founded in 2007, the firm invests exclusively in the global telecommunications sector, employing a rigorous, data-based process buoyed by deep industry expertise to identify investment opportunities in key areas of communications infrastructure, including fiber networks, wireless spectrum and cell towers,” the statement reads.