Vermont State confirms $5m top-up commitment

The US public pension has repeated its backing of Pontifax's second agtech fund.

Institution: Vermont State Retirement Systems
Headquarters: Montpelier, United States
AUM: $4.58bn
Allocation to alternatives: 12.20%
Bitesize: $10-50m

Vermont State Retirement Systems has approved a $5 million increase in its commitment to Pontifax’s Global Food & Agriculture Technology Fund II bringing its investment in the vehicle to $30 million, a contact at the pension informed Agri Investor. The pension previously committed $25 million to the fund in October 2019.

The $4.58 billion US public pension’s farmland allocation lies within its 6.50 percent real estate portfolio.

As illustrated below, Vermont State’s only other known commitment to an agriculture fund was $100 million to Nuveen’s open-ended Global Farmland Fund.

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