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UK private equity firm Terra Firma is selling a A$300 million equity stake in its Australia beef cattle portfolio company after returning the company to profit.

The investment into Smithfield Foods' Romanian subsidiary will be used to restructure debts and promote employment in the country's agribusiness sector.

Icicle Seafoods will be broken up in the sale to an Indonesian seafood and canning business and a Russian fishing company.

New Forests predicts the $100bn institutional investor market could double or even triple in size as the industry needs to double timber production by 2050.

The United Nations Convention to Combat Desertification is leading the $2bn-a-year initiative and is calling for expressions of interest from asset managers to help manage the fund.

The timberland real estate investment trust paid nearly $60m in two transactions in Louisiana and Oregon.

The $300 million fund has more deals in the pipeline for this year, and is targeting 10 to 15 investments in Africa.

The Sydney-based timberland investment manager purchased a 4,000-hectare forestry right in the Hautu-Rangipo region in the central North Island of New Zealand.

The US farmland fund management firm held a final close for its first fund Wednesday, falling short of the pool’s original $225 million target.

The private equity firm has bought Spearhead, a vertically-integrated producer with land in Eastern Europe and the UK.