The pair began working together in 2020 when Proterra Asia was raising Food Fund III and wanted support tapping European capital.
CDPQ's Nicolas Leyssieux and CEFC's Heechung Sung set out how the unusual deal to establish a farmland investment platform while taking an equity stake in Gunn Agri Partners came about.
The close represents the first stage of a planned initial fundraise of A$65m, which will be used to acquire a mixed farming aggregation and water entitlements in NSW’s Southern Riverina.
CEFC and CDPQ will establish Wilga Farming, an open-end platform with A$200m of capital to be managed by Gunn Agri Partners, as well as taking a stake in the asset manager itself.
Mayfair Equity Partners created the Snowfox Group in 2021, having grown it from a 2015 investment in British sushi brand YO!.
Principal Steven Loeffler says the firm will continue to be active in the M&A market and intends to 'go hard' across QualiTech’s markets of animal nutrition, agronomy and food ingredients.
The firm has acquired a 70ha property in the country and has made an offer on another 220ha asset as it builds out the new operation.
Increases in the construction budget and unapproved delays are among factors cited by the real assets specialist in its effort to force sale of a 60-acre tomato greenhouse facility in Richmond, Kentucky.
The firm plans to build out the operation’s project pipeline and innovate in using alternative sources of feedstock.
The Thunder Bay mill is a northern bleached softwood kraft and northern bleached hardwood kraft pulp, paper, newsprint and directory producer.