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Salmon School Underwater.
Neptune brings the aquaculture experience of ex-AMERRA head of PE Thor Talseth while Stafford has been ramping up its ag credentials for the last three years – what can the duo accomplish?
Capital was deployed from the firm’s evergreen ag and timberland vehicle which had a €32m first close at the start of November.
Partner Nicolas Denis says covid-19 has helped erode European farmers’ skepticism of buying inputs and equipment online, which only accounts for annual sales of €150m to €200m in a €138bn market.
The firm secured a 27.4% IRR when it exited its €15m timberland fund in December 2019 and is now targeting a €100m vehicle with a €200m hard-cap.
ECBF Management general partner Michael Brandkamp says the fund has an IRR “above 20 percent” and hopes to sign five new investors to double the vehicle’s €82m first close size.
NYSE-listed Americold’s acquisition of Agro Merchants Group follows its 2019 deal for Blackstone-backed Cloverleaf and includes a stake in a LatAm cold storage JV with Aqua Capital.
Tractor cultivating field
As we edge closer to the half-year mark since much of the world entered lockdown in March, we take a look at how the agriculture asset class has fared.
Country director Oleg Klein says opportunities in Russian agriculture remain for foreign investors engaged in constructive dialogue with the national government.
Khadim Abdulla Al Darei, Al Dahra’s co-founder and vice-chairman, says the investment will allow the multinational agribusiness to expand its 'reach and footprint.'
TIR Europe Forestry Fund II is close to securing its first acquisition – a $30m property in the south-east US.
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