Field Notes: ‘LPs could have natural capital buckets in five years,’ says IWC CIO; Campbell Global picks up 40,000-acre forestry asset
Agri Investor
Global coverage of the deals, firms and people driving agri-business today
‘LPs could have natural capital buckets in five years,’ says IWC (International Woodland Company) CIO Céline Claudon; Campbell Global picks up 40,000-acre forestry asset; Toesca Asset Management and Astarte Capital Partners LLP launch $350m regenerative ag fund; seafood giants flounder on traceability commitments; deals round-up and more. Welcome to Field Notes, the start-of-the-week briefing.
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First look
‘LPs could have natural capital buckets in five years’
International Woodland Company chief commercial officer Céline Claudon told Agri Investor she hopes LPs will have dedicated natural capital buckets within five years. Claudon said that one of the knock-on effects of LPs not having a dedicated bucket for the asset class is that return expectations among investors will vary depending on the investment bucket from which capital is deployed. Continue reading...
They said it
“We do not have 100 percent farmland ownership – we always do it in combination with the farmers themselves”
ASR Real Estate S.r.l. managing director Dick Van Den Oever explains his firm’s partnership approach to farmland buy-and-lease
Fund watch
Toesca AM and Astarte launch $350m regenerative ag fund
Chilean fund manager Toesca Asset Management and Astarte Capital Partners LLP have partnered for a regenerative agriculture fund that has a $350 million fundraising target. Toesca Permanent Crops II has been seeded with $45 million by the two firms, said a statement from the pair. The vehicle will seek to establish a permanent crop portfolio in Chile, Peru and “other Latin American markets,” according to the statement.
Deals
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Campbell Global acquires 40,000-acre timberland asset
J.P. Morgan subsidiary Campbell Global has acquired a 40,800-acre commercial timberland asset in northwest Washington state. Financial details were not disclosed. The asset was acquired on behalf of “institutional investors advised by Campbell Global,” according to a statement from the firm. Dive in the detail...
Seafood
Seafood giants flounder on traceability commitments
Major seafood companies have significant gaps in their traceability commitments, exposing the sector to environmental, social and regulatory risks, a report from the FAIRR Initiative has found. While most companies acknowledged the importance of traceability, other companies offered limited or no comprehensive frameworks.
People
Gresham House taps ESG expert
Alternative asset manager Gresham House has appointed former Investment Management Corporation of Ontario head of responsible investing Hyewon Kong, CFA as sustainable investment director. Based in London, Kong will lead Gresham House’s sustainable investment strategy to advance its environmental, social, and governance initiatives across diverse asset classes.
VC fundraising
ModifyHealth , an Atlanta-based food-as-medicine platform, raised $13.5 million in a Series C funding round led by the Dohmen Impact Investment Fund, with participation from RC Capital and Nashville Capital Network .
Everest Carbon , a San Francisco-based start-up developing an in-field carbon removal measurement tool, raised $3 million in a funding round. Backers were not disclosed.
Polar Beer Taps , a Canadian beer company, raised $2.7 million in a seed funding round backed by ClimateDoor , WUTIF Capital (VCC) Inc. , IFR Holdings and angel investors.
Dive into the detail in this week's Field Notes, here.