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The UK-based asset manager sold the neighboring properties to Rallen Australia, a company backed by one of South Africa’s richest men.
The $713m pension’s search is being led by Segal Macro Advisors, which advised the Cambridge Retirement Board on a similar 2017 search resulting in a $15m commitment to the Hancock Timberland and Farmland Fund.
The annualized return to the end of September 2019 was 14.37% but continuing drought means that income returns are especially likely to fall further in upcoming quarters.
Close up of avocados
Harvard Management Company was forced to write off $1bn of 'deeply troubled assets' in 2017 but made investments totaling $100m in its last fiscal year.
Illinois SURS will commit $225m to real asset classes including ag while 20% of all new capital deployed will target firms owned by minorities, females and persons with disabilities.
Cow in field after fire
Digital Agriculture Services found a strong correlation between drought-affected and fire-hit land, with 86% of fire-hit land suffering at least a 1-in-10-year rainfall deficit.
Raging bush fire
The unprecedented bushfire season is playing out in a way that climate scientists predicted years ago, demonstrating again how agriculture assets, especially those in a country like Australia, are vulnerable to climate risk.
Three LPs have confirmed to Agri Investor they have made commitments totaling a combined $350m to a fund that launched in December.
Founder John Farris said the direct investment platform has already secured three commitments, including one from a large Asian institution.
The fund will make investments ranging between $10-$50 million in farmland growing fresh fruit, vegetables and nuts.
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