South Dakota-based Novita Nutrition has begun commercial level production of NovaMeal and NovaOil, its animal nutrition products derived from a corn ethanol-production byproduct.
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The fund should back private sector fund managers and speed the commercialization of emerging agri tech and practices in the country.
The $30bn pension has committed $75m to a food-focused fund managed by KKR spin-out Butterfly Equity.
Scale and predictable returns are key to increasing institutional investment into agriculture, LPs at Agri Investor’s Australia Forum said.
Private equity can respond to consumer demand by helping encourage adoption of new technologies and conversion of conventional farmland to organic production, according to Rabobank.
Investors in the Kansas-based commodity trading and transportation company include Chinese private equity firm New Hope Group and Australian real assets giant Macquarie.
A vehicle focused on the purchase of farmland in Brazil from the Cargill spin-out has reached a $100m first close and has a target of $500m.
The manager expects its investment in one of Australia’s largest beef producers to serve as a platform for growth.
Kim Homa and Robin Olson, both formerly of USC Consulting Group, have joined the food and consumer-focused firm to focus on supply chains and manufacturing, respectively.
The $53bn US pension posted a first-quarter return of 2.51% for an allocation covering private debt, private equity and venture capital.