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Emerging and diverse managers received less than 3% of capital commitments closed in H1, raising fears they are being left behind as the pandemic changes fundraising.
Partner and co-founder of fund manager Goldcrest Farm Trust Advisors Edward Hargroves said the fund has already begun deploying capital.
A$13bn LGIAsuper has tapped Troy Rieck to take over as new CIO, leaving the same role at Melbourne-based Equip Super.
The Canadian pension and the Brisbane-based fund manager have agreed to end their strategic partnership, covering some A$200m of assets.
New Zealand’s sovereign wealth fund is aiming to increase its ag weighting to 3% of its assets and is increasingly looking offshore to achieve this, following its first move into Australia in 2017.
The Canadian pension made the investment through its strategic tie-up with the embattled fund manager, securing the asset from a Singaporean vendor on a sale-and-leaseback deal.
High-level discussions have taken place among industry super-funds to establish a new collective vehicle for ag investment, but the Royal Commission has drawn resources away.
cotton farm
The Canadian pension also becomes Webster’s largest shareholder as part of the transaction, acquiring a 19.15% stake in the company.
The firm's debut ag fund encountered few hurdles when bringing in foreign money but its CEO says fresh regulation could now make such transactions more difficult.
Supers will create an equivalent of IFM for agriculture sometime ‘in the next few years,' Industry Super Australia’s chief economist told the Australia Forum in Melbourne.
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