Carlyle managing director Taj Sidhu says the loan fits within the Credit Opportunities Fund’s focus on non-sponsored borrowers and will partially be used to support expansion targeting markets in Asia.
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.
GIIN research manager Rachel Bass says grant capital is a good match for the incubators, accelerators and de-risking mechanisms that can be pivotal in encouraging investment across sectors in frontier markets.
Akva chief executive Hallvard Muri says the first of at least five projects resulting from the partnership will be in Chile and comes at a time of significant investor interest in land-based aquaculture.
The development finance institution’s CIO says its focus on women’s economic empowerment means it will incorporate a broader view of female executives’ backgrounds and experience when evaluating funds for potential investment.