Daniel Kemp

New Agriculture’s Bruce King and New Forests’ Mark Rogers discuss the new division’s strategy, what investors want from the asset class, and the potential blend of farmland and forestry into a single investment product.

Laguna Bay Fund 2 has raised all its capital to date from Washington State Investment Board and is targeting A$750m in total.

Capital growth of Australian farmland fell to 3.7% in Q2 2022, with permanent farmland seeing asset values fall on an annualized basis.

Agri Investor held its first ever conference in Japan as local LPs and global asset managers gathered to discuss the benefits of adding farmland and timberland to investment portfolios in a volatile investment environment.

QIC, New Forests and Macquarie Asset Management are taking different approaches to the nascent asset class, but there are common themes.

The median price per hectare of Australian farmland increased by 27% in 2021, with a double-digit rise expected again in 2022 before a slowdown.

The 40-year agreement will see The Rohatyn Group’s JV lease an initial 1,200ha of orchard before a further 1,800ha in FY24.

Tenacious Ventures will build on the A$35m close of its first fund, which surpassed its target and raised capital from the Clean Energy Finance Corporation, among others.

New Agriculture will be led by Bruce King, who joined the firm in 2022, and will manage the Lawson Grains portfolio it acquired in 2021.

QIC plans to raise at least A$500 million for the Queensland Natural Capital Fund, its first commingled agriculture and natural capital fund.