real assets

Following its $50m debut ag investment in Agriculture Capital’s permanent-crop focused ACM II Fund last year, the Townsend Group has recommended the $15.7bn pension add row-crop exposure.

The private investment arm of the French asset manager will launch hybrid fund of funds, growth capital, infrastructure and real estate vehicles this year.

Gresham House has raised £15m and bought real assets manager FIM, more than trebling its forestry AUM.

Jerry Gates, who has led the firm’s real assets platform since 2011, is handing the reins for the position to the leadership team from Real Assets Portfolio Management, according to Agri Investor sister publication PERE.

The firm has opened offices in Chicago and Los Angeles as it continues expanding its secondaries advisory and fundraising business.

Timber champions have demonstrated their interest in agri by building dedicated teams. It’s only a matter of time before they start mixing both asset classes in diversified vehicles.

LPs' drive for diversification within real assets and a functional approach to portfolio construction means the asset class is no longer 'uncharted,' says bfinance.

Homestead Capital is among the firms that have received commitments from the vehicle, which has raised at least $268m towards its $300m goal.

Under Neil Cunningham's tenure, timber and agri have grown to represent nearly 90% of the Canadian pension's $3bn natural resources portfolio.

State-backed vehicles have good reasons to invest in agriculture. Can they do it at scale without running into political hurdles?