Permanent Crops

Weight-loss drugs are changing eating habits in wealthy economies, say reports. But with population growth, rising emerging-market incomes and finite arable land, agriculture’s investment case is shifting – rather than shrinking – toward productivity and quality.

After nearly two decades of consolidation, Macquarie is preparing to take its flagship pastoral platform to market, betting that scale, operational integration and a seasoned management team will resonate with institutional investors seeking exposure to Australian agriculture.

A wave of major transactions from Duxton Water, Macquarie and GoFarm precede a review of the Murray-Darling Basin Plan that could have further implications for investors.

The Kingdom will anchor a permanent crop vehicle and a cold-chain infrastructure fund in pursuit of its goal, and could set fundraising records along the way.

From Saudi Arabia’s multibillion-dollar agriculture push to Brazil-led blended finance platforms, food security is emerging as a primary driver of agricultural investment.

NZ Super is recalibrating its real assets strategy as it navigates weak timber prices in China, adds kiwifruit orchards to its agricultural portfolio and assesses opportunities in Australian cropping.

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.

President Trump’s tariffs have curbed US farm exports and increased its subsidy burdens, while Southern Hemisphere countries like Australia and Brazil stand in strong positions for expansion.

The permanent crops vehicle has received commitments from institutional LPs in Europe, North America, Australia and Chile.

The €355bn asset management arm of German insurer Munich Re has promoted internally to fill the role, with incumbent Katja Lammert leaving the firm.