Marine Cole
The fund, which targets food and agribusiness companies mainly in China, will close above its $400m target.
The firm, which spun out of HM Capital Partners about four years ago, closed its second fund on nearly double the amount of capital raised for its debut fund.
Despite challenges posed by high valuations, transparency and cost, the California pension plan remains committed to its 10% interim target allocation to private equity.
The firm has already committed 21% of Stafford International Timberland VII’s $484 million and plans to open an office in Latin America in the third quarter.
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