New York-based investment firm Galtere has launched an agribusiness private equity strategy, seeking up to $1 billion to make direct investments in industrial scale commodity production facilities in Brazil, Uruguay and Australia.
The firm plans to employ an investment horizon of seven years, and will be led by former Deutsche Bank portfolio manager Renatto Barbieri, who previously spearheaded the development of Deutsche Bank Global Markets’ natural resource private equity business. Specifically, Galtere will target livestock and crops production, irrigation and water management and agricultural warehousing.
“We see demand for commodities growing constantly,” said Galtere founder and chief investment officer Renee Haugerud in a statement. “We believe this will put further upward pressure on the price of commodities and increase the value of our projects consistently over our seven year investment horizon.”
Galtere is aiming to raise $1 billion from institutions, endowments and family offices, but it is unclear whether the firm intends to raise a traditional private equity fund, or invest capital on a deal-by-deal basis.
In July, the firm launched a new European arm in Switzerland, Galtere AG, and appointed director of investor relations and business development Werner Schuenemann to manage the new operation.
Galtere was founded in 1997 and has $1 billion assets under management. Haugerud, a commodity trading veteran, began her tenure in financial markets by trading cash commodity markets in the United States and Canada for Cargill and Continental Grain.