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The vehicle secured $100m from the Vermont Pension Investment Committee and will aim to make farmland acquisitions averaging $20m across the US, Australia, New Zealand, Brazil, Poland, Romania and Chile.
The Africa-focused firm says it has identified $200m of opportunities for Phatisa Food Fund 2, with some transactions at the due diligence stage.
The trans-Tasman manager has sealed the two final deals funded through the vehicle by purchasing two assets from The Rohatyn Group.
A trading halt was placed on the firm's shares after the California-based short-seller published a searing report.
The National Farmers’ Federation and the boutique investment firm have already committed A$121m of the fund’s capital and expect a first close end of June.
AgCap has hired CBRE to sell the fund’s assets following a unanimous decision by its foundation investors, which include AustralianSuper and AMP Capital, to exit the fund despite double-digit returns.
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