Livestock

CDPQ's Nicolas Leyssieux and CEFC's Heechung Sung set out how the unusual deal to establish a farmland investment platform while taking an equity stake in Gunn Agri Partners came about.

The close represents the first stage of a planned initial fundraise of A$65m, which will be used to acquire a mixed farming aggregation and water entitlements in NSW’s Southern Riverina.

CEFC and CDPQ will establish Wilga Farming, an open-end platform with A$200m of capital to be managed by Gunn Agri Partners, as well as taking a stake in the asset manager itself.

The ANREV Australian Farmland Index recorded its lowest quarterly result since its 2015 inception despite the total annualized return holding up relatively well.

The bank will make a commitment of A$10m to New Harvest’s Indigenous Impact Investment Fund, attracted by its potential to support sustainable Indigenous Australian business growth.

Hancock Agriculture will buy Ottley Station and Moolan Downs, with the purchaser of Packhorse’s other asset Stuart’s Creek yet to be finalized.

The firm is also gearing up to launch a venture capital vehicle that will make complimentary agtech investments.

The median price per hectare of Australian farmland has increased for the ninth consecutive year, with CAGR over that period of 11.5%.

Laguna Bay managing director Tim McGavin says DBJ is a ‘natural fit’ with the firm’s investment philosophy and hopes to secure further capital from Japanese LPs.

Paraway Pastoral Company, owned by MAM’s Macquarie Pastoral Fund, will sell Borambil Station, Pier Pier Station and the Burmah Aggregation for a likely A$180m.