Fund Structure

Committing to a closed-end fund takes effort and time. So why would LPs ever want to exit a vehicle before the end of its term? We ask Stephen Addicott, a timberland partner at Stafford Capital Partners.

The development-focused asset manager has clinched a pledge from Kempen Capital for its new fund, which targets up to $300m over the next three years to support ag lending in the developing world.

The Harvard Management Company spin-out has raised $605m from US and international investors across two sets of timber and ag vehicles. We focus on LP commitments and the tenets of each strategy.

Minnesota State Board of Investment is considering a $150m commitment to the fifth iteration of the firm's flagship vehicle.

Mark Fischer of Australia’s Qualitas says institutions are increasingly keen on ‘crossover investments’ spanning ag, real estate and infrastructure. Agri Investor examines the firm’s latest fund, currently in market with a A$204m target.

Chief executive Paul Pittman is adamant the REIT should remain a public company and suggested a final decision on whether to restructure would come within about two years.

A broker active in the region that is LandFund’s focus tells Agri Investor high-quality farmland there is current priced at between $5,500 and $6,000 per acre.

Co-founder and president Joelle Faulkner explains to Agri Investor that she supports the ownership restrictions that necessitate distinct vehicles for partially and entirely Canadian pools of capital.

The vehicle targets family offices, DFIs, corporates and foundations as it eyes a first close by the end of the year, VC chief Selma Ribica tells Agri Investor.

Dallas Police and Fire Pension System investment manager Ryan Wagner tells Agri Investor that an ongoing review at the $2.1bn pension includes examination of fund structures most appropriate for an agricultural investor of its size.