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The AgIS Farmland Club Fund will target gross IRR of 8-12% though up to 10 investments focused on permanent crops.
President Steve Bruere says attractive post-covid-19 equity and bond prices have kept most institutional investors too busy to investigate farmland opportunities.
Prudential Agricultural Investments will target unlevered returns of between 6% and 10% through a focus on permanent crops.
Firm partner Adam Oliver says institutional farmland managers’ efforts to broaden portfolios and diversify risk is helping create interest in the country.
Managing partner Nik Dilks said the size of EIP’s Fund IV meant larger LPs could make commitments, which helped the firm hit its hard-cap.
Curtis Buono and Jeremy Darner said they expect to focus largely on helping institutional investors deploy funds in California farmland markets increasingly shaped by the SGMA.
The $713m pension’s search is being led by Segal Macro Advisors, which advised the Cambridge Retirement Board on a similar 2017 search resulting in a $15m commitment to the Hancock Timberland and Farmland Fund.
Illinois SURS will commit $225m to real asset classes including ag while 20% of all new capital deployed will target firms owned by minorities, females and persons with disabilities.
Founder John Farris said the direct investment platform has already secured three commitments, including one from a large Asian institution.
The fund will make investments ranging between $10-$50 million in farmland growing fresh fruit, vegetables and nuts.
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