

TIAA-CREF Global Agriculture II, a global farmland investment company, has raised a further $13.4 million towards its $2.5 billion target from 38 investors, according to regulatory filings with the US Securities and Exchange Commission.
The US pension plan and asset manager has been fundraising for its second agriculture investment vehicle since last year; Agri Investor first heard about its existence in July 2014, and it has raised over $1.7 billion to date, nearing its first vehicle which closed in May 2011.
Commitments to TIAA-CREF Global Agriculture II include $750 million from Swedish pension fund AP Fonden 2 and the most recently disclosed investor, New Mexico State Investment Council, which committed $200 million earlier in February, according to investment committee meeting minutes.
TIAA-CREF declined to comment on its fundraising activities as the vehicle is still open with an unknown closing timeline.
TIAA-CREF Global Agriculture II will invest in the US, Australia and Brazil buy-and-lease farmland.
Earlier this month, TIAA-CREF and its subsidiary GreenWood Resources closed Global Timber Resources, a new $667 million global timber company, that will focus on the development and management of sustainable plantation forestry assets.