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The $41.9bn endowment has made progress in growing its private equity portfolio while shedding older illiquid assets that have weighed on performance.
Chief executive and former Harvard natural resources MD Colin Butterfield says AIG’s desire to back his team’s food and ag strategy helped catalyze the creation of Solum.
Peoples Company owner Steve Bruere says institutional investors could sell assets through the 1031 exchange market, but the structures offered by DST Farms are largely aimed at retail investors.
Wave Financial managing partner Benjamin Tsai says tokenization of spirits expected to appreciate 3-5x over a five-year fund life could eventually support a liquid market offering exposure to the aging of whiskey.
The Impact Alternatives Fund will invest up to 30% of its capital in regen ag and up to 20% in environmental assets in response to investor feedback.
Senior investment offer for real estate Tim Hayes says the $53.4bn pension will seek balance across risk and sectors in building out its 'other real assets' portfolio.
Principal Ryan Ramsey says a similar focus on low correlation, capital preservation and specialized management of long lived, capital-intensive assets is part of what makes ag 'ripe for institutional investment.'
As of March 31, OCERS’ investment in the AAF was valued at $64.1m, which constitutes a 6.4% net IRR. The $16.7bn pension committed $40m to the fund in 2010.
The current fundraising environment for agribusiness is seen as similar to the period immediately following the global financial crisis.
Joe Azelby
UBS group managing director Joe Azelby sees promising demand drivers for farmland but the lack of 'scalable doorways' will limit large investors.
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