Founder & CEO
Mr. Grain is the founder and CEO of Grain Management, LLC. Founded in 2007, Grain Management exclusively focuses on the global communications industry. Trusted by many of the nation’s largest institutional investors, the company has consistently generated top quartile returns through its deep institutional knowledge, data-driven investment process, and longstanding relationships across the communications space. Under Mr. Grain’s leadership and with its roster of industry veterans, former regulators, financiers, analysts, owners, and operators, Grain Management has pioneered a variety of innovative financial structures that have transformed the communications industry, including the first ever asset-backed securitizations of cellular communication towers and radio frequency spectrum licenses.
From 2002 to 2006, Grain led Pinnacle Towers (later renamed Global Signal) from bankruptcy to a successful IPO, transforming it into one of the largest independent wireless communication tower companies in the world. As President of Global Signal (NYSE:GSL), Grain grew the organization’s footprint to a total of 13,000 sites covering all 50 states, Canada and the United Kingdom. In 2006, GSL was sold to Crown Castle International for $5.7 billion. This transaction delivered an over 15x return of capital to private equity investors and 3.5x to IPO investors.
Prior to joining Global Signal, Mr. Grain served as Senior Vice President of AT&T Broadband’s New England Region and was an Executive Director in the High Yield Finance Department at Morgan Stanley in New York where he focused primarily on global telecommunications, media and technology companies.
Grain was appointed to the Board of Directors of Southern Company (NYSE:SO) in 2012 where he is Chair of the Finance Committee and serves on the Compensation Committee. In 2019, he became a Director of New Fortress Energy (NYSE:NFE). Mr. Grain is a Trustee of the Brookings Institution, a member of the Advisory Council of the National Museum of African American History and Culture, and a member of the Board of the Martha’s Vineyard Museum.
As an active participant in civic affairs, Mr. Grain received a Presidential Appointment to the National Infrastructure Advisory Council where he chaired the Critical Infrastructure Security and Resilience National R&D Plan. In September of 2009, Florida’s Governor appointed Mr. Grain to the State Board of Administration’s Investment Advisory Council where he served as Chairman. While in New England, Mr. Grain was named by the Treasurer of Massachusetts to the State’s Pension Reserves Investment Management Board, overseeing the State’s employee pension fund, and he subsequently chaired the Investment Committee. He is also a Lifetime Member of the Council on Foreign Relations, and a member of Business Executives for National Security.
Grain earned his MBA from the Amos Tuck School of Business at Dartmouth College, where he serves on the Board of Advisors. He also served for eight years as a Trustee of College of the Holy Cross, where he received his Bachelor of Arts degree. Numerous organizations have been beneficiaries of Grain’s philanthropy, particularly in the areas of education, social justice, and the arts.
Mr. Grain shares two children, Chelsea (1994) and David Jr (1995) with his wife of 28 years, Lisa. Both of their children live and work in Los Angeles CA.