Agri-Food and Forestry 20

Agri Investor’s inaugural ranking charts the top 20 fund managers by capital raised between January 1, 2019, and December 31, 2023.

Fundraising has largely been stable during our five-year counting period, with 2022 being the only outlier. During that time, we have seen many blue-chip investors, such as Goldman Sachs, HSBC and TPG, to name just a few, enter the food and forestry asset class as natural capital has taken hold as an investment theme. But as our ranking shows, it is the firms with a long history in the space who have dominated fundraising during the five-year counting period.

TOP 10 LARGEST AGRI-FOOD & FORESTRY FUND MANAGERS

Rank Manager Headquarters Capital raised ($m)
1 Paine Schwartz Partners New York 4,293
2 Manulife Investment Management Toronto 4,087
3 BTG Pactual São Paulo 3,167
4 New Forests Sydney 2,500
5 Butterfly Equity California 2,018
6 Gresham House London 1,942
7 Stafford Capital Partners London 1,817
8 PGIM Real Estate New Jersey 1,767
9 Arbor Investments Chicago 1,669
10 Nuveen Natural Capital Chicago 1,440
SEE THE FULL RANKING

INSIDE THE AGRI-FOOD AND FORESTRY 20

Fundraising

Meet the biggest agri-food and forestry fund managers

-
The AFF 20 is Agri Investor’s inaugural ranking of the biggest fund managers by capital raised between January 2019 and December 2023.

AGRI-FOOD AND FORESTRY 20 | METHODOLOGY

The 2024 Agri-Food and Forestry 20 is based on the amount of direct investment capital raised for agri-food and forestry by fund managers between January 1, 2019, and December 31, 2023.

Definitions

Agri-Food and Forestry

The definition of agri-food and forestry investing, for the purposes of the Agri-Food and Forestry 20, means equity capital committed toward natural capital assets such as farmland, forestry and water, agribusiness, agtech or debt and infrastructure capital aimed at these sectors.

Capital raised

We count the full amount of a fund if it has had a final close within the counting period.

If the final close falls outside this period, we will count the full amount of an interim close, if one occurred during the period.

What counts?

Investment structures:

  • Limited partnerships
  • Open-end vehicles (capital must be raised within the specified dates)
  • Co-investment funds
  • Separate accounts
  • Seed capital and GP commitment

What does not count?

  • Expected capital commitments
  • Contributions from sponsoring entities
  • Capital raised for funds of funds

LATEST HEADLINES

Up close of cotton plant with picker in distance as a shadow.
News & Analysis

Louis Dreyfus defeats Olam in bidding war for Namoi Cotton

-
The battle for ownership of Australian cotton company Namoi Cotton has raised questions about competition within the industry as consolidation plows ahead in the agribusiness sector.
Sustainability and green business with icons on crystal balls. renewable energy concept Reduce CO2 emissions concept, green business using environmentally renewable energy. change, weather
News & Analysis

‘We need to supercharge the ACCU scheme’ – Carbon Market Institute

-
While investors have historically placed their climate and biodiversity efforts in different siloes, delegates at the first Global Nature Positive Summit say more value can be achieved by considering them holistically.
Editor's View

Microsoft’s carbon ambitions bring Brazil back into the limelight

-
The tech giant is by no means done with its buying spree – any onlookers wishing to get in on the action might have to move fast before supply becomes constrained.

LATEST FUNDRAISING REPORT

Subscribe now to gain unlimited access to our latest insights, analysis and reports

FIND OUT MORE
© PEI Group
agri
agri

Copyright PEI Media

Not for publication, email or dissemination