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The private equity arm of Cargill has closed two funds: Black River Agriculture Fund 2 on $587m and Black River Food Fund 2 on $700m.
The global agri fund manager has hired Shankar Athreya as head of farmland investments.
Dutch pension fund PGGM has committed between €50 million and €100 million to Black River Food Fund 2, a private equity fund managed by the private equity subsidiary of US agribusiness Cargill.
The Australian dairy fund manager, which doesn't want to disclose the size due to the potential impact on farmland prices, will hold a final close later in the year.
The US pension fund’s consultant recommended a $1.6bn increase in exposure to its opportunity fund, which includes timber.
The investment advisory firm is now owned by the management and other founding shareholders after buying Investment AB Kinnevik’s majority stake.
Insurance products are now available to help mitigate some timberland investment risks and create a more stable source of returns, argues Christian Röckemann, founding partner of First Forest.
A strategic review of the investment landscape across the food and agriculture asset class with up-to-date analysis of the major asset categories.
The US private equity fund has closed on $250m.
San Diego County Employees Retirement Association will hire external managers to handle a $50m-$75m timber increase. It is also planning a $150m “re-up” in agriculture investment during the year.