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The fund manager has sold Banongill Station, the first property it acquired for the fund in 2016, to a local farming consortium.
PSP head of natural resources Marc Drouin said the pension would look to do more post-farmgate investments in Australia and could work with local funding partners more in future.
The American university’s endowment is selling further assets after offloading almond and cotton farms to Hancock Agricultural Investment Group earlier this year.
The Diversified Agriculture Fund will deploy approximately A$25m across three foundation assets and will move to an open-end structure to continue raising capital.
Capital appreciation remains low following years of growth, but another quarter of strong income returns saw annualized returns hold up well during the beginning of covid-19.
Thera Capital Management’s Mark Allen outlines the opportunities available for private debt investment in agriculture.
Ocean biodiversity
The firm says it signed the pledge because action is needed through policy and business to better mitigate global biodiversity risks.
The investment is Tenacious’s first outside Australia and the second overall from its inaugural fund, which closed in Q1 2020.
Carrot growing in soil
The Australian government wants to hit a 90% reduction in the costs of measuring soil carbon to ‘transform the economics’ of soil carbon projects for farmers.
Corn field, aerial view, farmland
Real estate investors looking for steady returns are beginning to view sale-and-leaseback agriculture assets as core investments, Colliers says.
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