Binyamin Ali

Paine Schwartz Partners – last year’s top firm – takes second place as the top five in our Agri-Food and Forestry 20 remain unchanged.

McWin’s structural commitment to invest in restaurants as well as the venture tech they need to evolve may be giving the firm an edge in the journey towards commercialization.

Our 2025 Global Awards are now open and close to submissions on 31 December 2025.

From Burger King to vertical farming and cultured meat, McWin’s portfolio spans the food value chain – and the firm is making its network pay by using its distribution channels as a testing ground for prospective investments.

The vehicle held a €75m first close in June 2024 and has surpassed its €150m fundraising target.

The firm intends to return to market with the second fund in its regenerative agriculture series in 2026.

The firm achieved a 15.5% IRR after a near five-year hold of the afforestation property, with buyers attracted by the development work that has already been done to de-risk the asset.

The vehicle has a €350m fundraising target and has also been backed by Allianz France and BNP Paribas Cardif.

From housing shortages to net-zero targets, the world’s structural challenges are aligning with timber’s strengths – and LPs are starting to price that in.

The firm could invest up to €100m in the platform and intends to plant strategic permanent crops to enhance income streams and ecosystem services.