The vehicle has hit its fundraising target and received commitments from LPs including Clean Energy Finance Corporation, AP2 and Kyushu Electric Power.
The year brought significant fund closes for traditional AFF strategies as nascent natural capital funds also made their presence felt.
The fund manager has welcomed Farm Credit Canada as a new LP to the vehicle.
Despite a decline from $9.7bn in 2023, the full-year 2024 figure sits comfortably within the preceding five-year average.
Co-managing director Paul Greenwood says the agribusiness firm’s inclusion within his GP stakes fund reflects how diversification benefits and return potential have increased agriculture’s appeal among global allocators.
The afforestation play has a net IRR target of 10% and will deploy capital across European markets.
The Dutch pension fund has now committed €300m to the buy-and-lease strategy.
Amid a difficult fundraising environment in all asset classes, agriculture and nature present a compelling opportunity, says Cibus Capital CIO Robert Appleby.
Paine Schwartz Partners current sits at the top of the tree but BTG’s blockbuster timberland vehicle could mean we have a new leader in 2025.
Impact Orange Partners specializes in private market impact investment advice.