Field Notes: Farmland buy-and-lease meets infrastructure in part two of our Deep Dive; BNPP AM hits $130m first close for debut forestry fund
Agri Investor
Global coverage of the deals, firms and people driving agri-business today
Farmland buy-and-lease meets infrastructure in the second part of our Deep Dive; BNP Paribas Asset Management hits $130 million first close for debut forestry fund; BTG Pactual raises $500 million for $1 billion forestry vehicle; Area One Farms reaches C$127 million first close on Fund V; Gresham House appoints global director of natural capital, and more. Welcome to Field Notes, the start-of-the-week briefing.
Tips and feedback to: binyamin.a@pei.group.
First look
Farmland buy-and-lease meets infrastructure
In the second instalment of our Deep Dive into open-end buy-and-lease farmland strategies, we speak to five GPs that have expanded their real asset plays to incorporate agricultural infrastructure. We hear from Bonnefield , Centuria Capital Group , Manulife , PGIM and Roc Partners about how they have used a combination of closed-end and open-end vehicles to grow their mandates beyond the farmgate. Continue reading...
They said it
“To support Australia’s economic prosperity, the board is expected to have regard to national priorities as part of its overarching investment and investment management strategy for the portfolio”
The Australian government has handed its sovereign wealth fund Future Fund an updated mandate that prioritizes domestic sectors such as infrastructure, energy and housing
BNP Paribas hits $130m first close for debut forestry fund
BNP Paribas Asset Management has held a $130 million first close for its debut timberland investment vehicle. The Article 9 BNP Paribas Future Forest Fund has a $500 million fundraising target and a $750 million hard-cap. Future Forest Fund will pursue a sustainable commercial forestry strategy and invest in timberland assets in Australia, Europe, New Zealand and the US.
BTG Pactual raises $500m for $1bn forestry vehicle
BTG Pactual Timberland Investment Group has raised $500 million for its Latin American Reforestation Fund. The vehicle has a $1 billion fundraising target and was launched in 2021 with the aim of restoring approximately 133,000ha of natural forest and establishing sustainable commercial tree farms on an additional 133,000ha.
Recommended by LinkedIn
Beef
Australia could raise steaks in Southeast Asia
Australia is well-positioned to strengthen its status as a major beef supplier to Southeast Asia, according to a Rabobank report. The report highlights increasing wealth and urbanization in key markets as the driving forces behind a projected 2-3 percent annual growth in demand over the next five years. However, the report notes that the region’s domestic production constraints will necessitate increased imports, read more...
People
Gresham House appoints global director of natural capital
Asset manager Gresham House has appointed Eoin McDonald as global director of natural capital. McDonald joins from GreenAgCapital, where he was a managing director and worked on food and agriculture investment strategies, and led fundraising efforts.
McDonald said: “I am delighted to be joining Gresham House at a time when investors are increasingly seeking to engage with, and ultimately invest in, natural capital.
VC fundraising
EarthOptics , a US-based soil digitization and agronomy start-up, raised a $24 million funding round led by Conti Ventures and The Production Board, with participation from Cibus Capital LLP , RuralWorks Partners, LLC , Norinchukin Bank Leaps by Bayer, S2G Investments , Shell Ventures, Pappas Capital , CNH Ventures and Rabo Ventures , among others.
Vaulted Deep , a Texas-based biomass carbon removal and storage company, raised $32.3 million in a Series A funding round led by Prelude Ventures , with participation from Lowercarbon Capital , Earthshot Ventures , WovenEarth Ventures , Fall Line Capital and Rethink Impact, LP .
Dive into the detail in this week's Field Notes, here.