Institutional Investors

First State Super CEO Deanne Stewart will continue as chief executive of the merged entity, which the two funds said would provide access to more investment opportunities and reduce costs.

Institutional investors would like to deploy more capital into agriculture but a lack of experience among GPs is giving LPs pause for thought, the Agri Investor Chicago Forum 2019 heard.

Partner and co-founder of fund manager Goldcrest Farm Trust Advisors Edward Hargroves said the fund has already begun deploying capital.

The Australian fund saw the value of its infrastructure and timberland portfolio rise even as it fell as a percentage of total AUM, due to disposals of illiquid overseas assets including Gatwick Airport.

A$13bn LGIAsuper has tapped Troy Rieck to take over as new CIO, leaving the same role at Melbourne-based Equip Super.

The two industry superfunds hope to increase returns and lower fees for members through efficiencies gained in the merger.

This year’s conference saw more LPs than ever before, as agriculture continues to grow as an asset class.

Director of private equity and infrastructure Yasuhiro Ono said the institution is looking to diversify across geographies, vintages and managers.

The Canadian pension and the Brisbane-based fund manager have agreed to end their strategic partnership, covering some A$200m of assets.

AgIS founder and president Jeff Conrad told a conference audience last month that US pensions are increasingly viewing farmland as a permanent fixture of their asset mix.