Farmland prices in the two countries have been on an unbroken upward trajectory since Q4 2020.
The deal is part of a wave of LP secondaries that are being driven by fund investors' desire to get proceeds from older funds.
Astarte has closed its debut impact forestry fund on $325 million, Forward Consumer Partners chooses Firehook Bakery for the first deal from its $425 million fund, BlueOrchard and Acre Impact Capital hit fundraising milestones, IIED believes DFN swaps can unlock $100 million in climate finance, and more. Welcome to Field Notes, the start-of-the-week briefing for our valued subscribers only.
Managing partner Matt Leeds says he has ‘dreamt for years that Firehook would be Forward’s first investment’ as the firm begins deploying its $425m vehicle.
Research from Cushman & Wakefield says the region has been a good store of value for more than a decade and has numerous tailwinds in its favor.
The firm has carved out an impact niche operating alongside export credit agencies and development finance institutions.
The emerging markets vehicle has received backing from Schroders, KfW, British International Investment and the Nordic Development Fund.
Following the sale of ‘Project Avomond’, Folium will transition from development manager to operating manager for the remaining assets in Agriculture Fund I.
The traditional agrifood and forestry fund managers and investors rose to the top in 2023 after climate buyers muscled their way in the previous year.
The debut forestry fund surpassed its $200m target and will be deployed exclusively in Paraguay.