The second real assets vehicle from the water-focused New York-headquartered firm has a $300m target.
TGAM Agribusiness Fund, which will invest debt to obtain non-controlling positions in family-owned businesses, added $9.6m in July to move it nearly halfway to its $600m target.
The New York-headquartered agribusiness specialists are seeking between $300m and $400m for a vehicle targeting earlier-stage growth equity investments across agribusiness sectors.
Inputs are likely to be the focus of agricultural investments from the Denver-based firm’s new vehicle.
The $60m vehicle is the third farmland fund from the Iowa-based firm, which is also active in pork and Brazilian ethanol.
BTG hopes to raise $200m annually to build a diversified US timber portfolio, in part from assets within funds raised in the mid-2000s now reaching the end of their lives.
Agriculture is among the target sectors for Horizon Capital’s Emerging Europe Fund III, designed to support export industries in Ukraine and Moldova.
The listed Australian alternatives manager has raised around A$180m for the fund, which will target water entitlements, irrigated farmland and integrated supply chain infrastructure.
The vehicle will target net returns of 15% over its 12-year life with agriculture to account for up to 20% of investments.
ADM Capital head of agriculture Jason Silm told delegates at our recent Australia Forum that US and Nordic pensions are leaving the super industry behind.