Fund Structure

Backed by cornerstone commitments from a UK local government pension scheme and an Australian superfund, Gresham House’s strategy pitches timberland as a mature asset class within natural capital.

Diversification in agriculture goes far beyond investing in both permanent and row crops, says Fiera Comox’s Matthew Corbett, and LPs need to ensure they’re adding the right type of exposure to their portfolios.

The firm launched the vehicle in 2022 with a $500m target to pursue a strategy combining higher-risk farmland investments with processing and marketing infrastructure.

The full-year figures show agri-food and forestry fundraising registered its second-highest haul in the past five years.

The Australia and New Zealand-focused private equity firm expands its exposure to food and agriculture with the acquisition of a majority stake in meat producer BE Campbell.

Climate Fund Managers’ $1bn close showed why the structure is important to climate finance, while the slowdown in debt-for-nature swaps demonstrated its vulnerabilities.

Helsinki-listed private equity manager CapMan’s natural capital unit is in market with a new vehicle and is eyeing energy, biodiversity and conservation for its open- and closed-end forestry vehicles.

The secondaries specialist has rolled up Timberland Funds VI, VII and VIII into the Stafford International Timberland Continuation Fund.

The firm exited the assets from its Dasos Timberland Fund II vehicle, which closed on €234m in 2014.

The acquisition brings Centuria’s agricultural AUM up to A$1.3bn and adds 22 assets across sectors including poultry, nuts and controlled-environment agriculture.