Fundraising

Gunn Agri Partners revealed that the Gunn Agri Cattle Fund, which is now fully deployed, reported EBITDA of A$19.7m for the year ending June 2020.

As of March 31, OCERS’ investment in the AAF was valued at $64.1m, which constitutes a 6.4% net IRR. The $16.7bn pension committed $40m to the fund in 2010.

Managing director Chris Morris expects the LFP Opportunity Fund to reach its $20m target by October and be fully deployed by Q1 2021.

Unfold Bio has received an initial $30m in start-up capital from the two founders but future funding rounds could be opened up to external investors.

Managing director Chuck Templeton says two new seafood-experienced managing directors will help build a network of co-investors interested in early stage seafood and ocean ecosystem health opportunities.

The fund manager invested in tomato producer Sundrop Farms via the Growth Infrastructure Fund, which has scaled back its fundraising target due to covid-19.

The vehicle has already made four investments across its mandate, with Peruvian agribusiness Phoenix Foods and solar energy solutions provider SunColombia among the early beneficiaries.

The current fundraising environment for agribusiness is seen as similar to the period immediately following the global financial crisis.

The mixed experiences reported by placement agents and GPs suggest a positive covid-19 track record is not necessarily a silver bullet on the fundraising trail.

The Nature Conservancy managing director Charlotte Kaiser said the body could work with RRG in several ways to achieve a conservation outcome.