Clarmondial AG has partnered with Duff & Phelps Management Company S.A.R.L. and Pictet Asset Services for the imminent launch of a new credit fund focused on sustainable agriculture in emerging markets.
The open-ended vehicle, to be established in Luxembourg, will address the “increasing agricultural value chain finance gap” and cater to investor demand for alternative products contributing to sustainable agriculture and food security, according to a statement from the firms.
Tanja Havemann, director and founder of Clarmondial , said the AIFMD-compliant fund will provide capital to “value chain stakeholders working with smallholder farmers to promote rural economic development, food security and climate smart agriculture”.
Claude Pech, global head of business development at Pictet Asset Services, which will provide custody and fund administration services to the fund, added that the fund caters to increasing demand from institutional investors for mid- to long-term loan strategies.
Duff & Phelps has been appointed as the alternative investment fund manager for the fund, while Allen & Overy has been retained as legal advisor. The offering memorandum and other documents were submitted to Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) for approval on 24 October, 2016.
A Clarmondial spokesperson declined to reveal additional details on the fund, citing pending regulatory approval.