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Strawberries, raspberries and blueberries on wooden surface
The two firms had steadily outbid each other over the past several months, with a final offer price now one-third higher than the first bid submitted by Macquarie in November 2020.
Confidence among farmers is strong after a bumper 2020 winter crop, with hopes that a repeat this year will set the sector up for years to come.
Packhorse Pastoral Company’s A$1.5 billion fundraising goal is ambitious – especially as it wants to raise it all from Australian investors.
Packhorse Pastoral, farmland, Australia
Packhorse Pastoral Company is aiming to raise A$1.5bn for its first pooled fund – and it wants it all to come exclusively from Australians.
Carrot growing in soil
The firm, one of the first VC firms to focus on Australian agtech, exceeded its fundraising target of A$30m for its inaugural vehicle.
Windmill, Australian outback
The feed mill is the fund’s fourth asset and the first since the purchase of three foundation assets, all of which have been acquired via sale-and-leaseback arrangements.
The sale of Auscott, which attracted interest from a wide range of buyers globally, shows how large the pool of potential buyers for large-scale ag assets has become.
cotton farm
PSP has made another significant investment in Australian agriculture through its purchase of Auscott, adding to its acquisitions of BFB and Webster in 2019.
Investment manager Sapient Capital Partners is targeting a net IRR of 12%-14% for its first dairy fund, which has lined up a seed portfolio of assets in Australia.
A new report hopes to spark discussion about what agriculture will look like in 2035, identifying five key themes that could disrupt the sector and affect investment strategies.
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