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AGR says the new office will focus on new agribusiness opportunities in the United States.

The New York Stock Exchange-listed REIT expects the acquisition to boost annual revenues by $6m.

The new additions bring on-the-ground PE experience in Africa and knowledge of large-scale deal execution.

The firm began marketing its SEAF India Agribusiness International Fund II in September targeting $150m. The fund will invest $20m to $25m in small and medium enterprises, including food supply and other agribusinesses in India.

The 119,000 acre acquisition from the $662m fund brings acreage managed by the firm to 1,875,000.

The unit could increase the medium- and long-term debt available to Kenya's agriculture business, and even provide corporate lending for projects.

The merger leaves the REIT as the largest timber owner in the US, with an equity value of $23bn.

Landowners and industry insiders say new grants could help raise kangaroo production standards, helping open up new markets in Asia and stoking hopes that Russia could re-ignite its appetite to import the meat.

The funding will be used to expand and develop the cannabis packaging product line at FunkSac.

The state received more than a third of venture capital funding for water tech in the US.