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The American university’s endowment is selling further assets after offloading almond and cotton farms to Hancock Agricultural Investment Group earlier this year.

Senior vice-president Mario Therrien says the tie-up provides the C$333bn pension with a ‘window’ into a sector it sees as a real assets portfolio extension well-suited to its long-term sustainability focus.

Peoples Company owner Steve Bruere says institutional investors could sell assets through the 1031 exchange market, but the structures offered by DST Farms are largely aimed at retail investors.

The latest evidence comes from Scrum Ventures, which has launched a studio.

Wave Financial managing partner Benjamin Tsai says tokenization of spirits expected to appreciate 3-5x over a five-year fund life could eventually support a liquid market offering exposure to the aging of whiskey.

Public market flotations by highly coveted and well-funded ag start-ups have followed in the footsteps of Beyond Meat’s 2019 IPO, adding to the growing signs of industry maturity.

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.

Investments are expected to irrigate roughly 700,000 acres of farmland, lead to increased food output and security, and export opportunities for stakeholders.

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.

The duo will seek to drive impact through investment and active engagement with globally diversified businesses that have growth potential.