Permanent Crops

Australian superannuation fund sells its portfolio, a combination of irrigated farming properties and water rights, to a subsidiary of ASX-listed Washington H Soul Pattinson for approximately A$100 million.

With NSW threatening to tear up longstanding water-sharing agreements, institutional investors are questioning whether the headline risk that comes with water investment is worth the consistently strong returns.

Other interested parties in the FruitSmart deal that could be worth as much as $105m included corporations, private equity funds, and endowments.

In the second of our two-part interview with LGIAsuper CIO Troy Rieck, the superfund’s new man discusses the irrelevance of asset class definitions, co-investments and the F-word.

In the first of our two-part interview with LGIAsuper CIO Troy Rieck, he discusses the importance of using GPs with diverse skills and the challenges the superfund faces with its ag and water assets.

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.

Steve Jarrott joins Warakirri from Westchester, where he was Australian portfolio manager, to oversee its latest diversified ag fund.

The publicly traded REIT said the acquisition is in line with its strategy of buying or converting farmland from conventional to organic farms

Macquarie has closed its third fund, which was established in 2017 to invest in row cropping and permanent cropping assets, with deployment well advanced.

US-based short-seller argued that EY report was ‘not a clean bill of health’ and had ‘backfired’ on Rural Funds Management, as the ASX-listed firm begins legal action.