AgCAP replaces CEO, delays new fundraising efforts – exclusive

Martin Newnham has been appointed chief executive after John McKillop left last year. Newnham is also CFO at the fund management firm.

AgCAP, the Australian agri fund management firm, has appointed Martin Newnham as chief executive to replace John McKillop, who left the company last November. Newnham joined AgCAP as chief financial officer 18 months ago, a role he remains in.

Martin Newnham

Last year McKillop told Agri Investor that AgCAP was set to raise a dedicated dairy fund, but the firm has now decided to focus on its existing fund, the A$150 million Sustainable Agriculture Fund (SAF), which is in its fifth year.

The fund’s LPs include domestic pension funds Christian Super, Australian Super and AUSCOAL Super. It is understood there will be opportunities for existing LPs to increase their investment in the fund as part of a drive to grow the fund’s portfolio around its existing assets.

AgCAP changed its branding to AgCAP from Australian Farms Fund Management last year when Newnham and others were brought into the team. The company has since hired Deo de Jesus as an analyst.

The firm jointly manages Cubbie Station, a south Queensland irrigated cotton operation, with Lempriere Capital.