Fund Structure

After closing a $300m debut fund last summer, the acquisition of Universal Irrigation marks the third such deal for the West Coast midstream specialists.

The Rhode Island State Investment Commission has backed the San Francisco-based firm, which is targeting up to $700m for a strategy blending higher-risk greenfield developments and more stable, lower-returning properties.

Interim MD Kim Morison expresses disappointment at how the real assets division, which he previously headed, has been ‘hijacked’ by poor investments in the firm's other business units.

The fund will target 12% annual returns as the profile of developing-world timber rises among impact investors, says Arbaro Advisors MD Marco Kaiser.

Chief executive Bruce Rastetter says the vehicle will target annual returns of more than 20 percent by investing in mid-cap companies in mid-stream agricultural businesses located in the US Midwest.

President Tom Eisenhauer says the firm’s sale/leaseback model has helped it build an impressive reputation among Canada’s farmers, making for a “remarkably busy summer.”

Mergers like Bayer/Monsanto and Dow/DuPont have increased investors’ attention on consolidation opportunities in the sector.

Western Australian Farm Investment Fund is targeting 13.5% IRR but has received little interest from domestic superannuation funds.

Brian Iversen of water-focused Cimbria Capital tells us about the firm’s efforts to establish a track record before hitting the market with its debut fund.

NMERB chief investment officer Bob Jacksha tells Agri Investor why a merger involving the farmland vehicle’s original manager, Halderman Agriculture, did not end up being a deal-breaker.