Simon Meads
The Chinese oil producer is teaming up with British Virgin Islands registered Genius Link Capital to submit a second-round bid for Australia's largest private estate on October 27, it told the Shenzhen Stock Exchange.
The fourth successive half of falling farmland prices in the US's second largest crop producing state takes values 20% lower than September 2013, reflecting the slide in corn and soybean prices.
Waning demand for Black River's hedge fund strategies is prompting the spin-off, which also includes its $2bn-plus private equity arm.
Competition from pension funds and wealthy individuals has helped double investment-grade farmland prices to £12,500 an acre over 5 years, with prices soaring faster than luxury London homes, according to Knight Frank research.
Mississippi farm investor LandFund is hoping to raise up to ten times more capital for its third fund after investing its $7.5m fund in 2,500 acres of Arkansas land.
Hancock Timber boosts southern US timber assets with 98,000 acres in Florida as Plum Creek offloads non-core investments.
Venture capital firm Ignite Farm wants $50m for its second fund less than 18 months after raising $10m for food industry and digital start-ups, according to SEC filings.
The New Zealand government has blocked Shanghai Pengxin’s purchase of the country’s largest dairy farm, halting the Chinese conglomerate’s ambition to build a NZ$1bn farm empire.
New York growth equity firm Stripes Group invests $50m in California fruit farmer Sun Pacific’s fast-growing almond milk and natural drinks line Califia Farms.
Three major US state funds have committed $600m to a new timber JV, which will not charge traditional management fees or carried interest.