Field Notes: BTG closes LatAm timberland Fund II on $1.24bn; ADQ moves fast to bolster Unifruitti; Bluefront Equity launches Fund II
Agri Investor
Global coverage of the deals, firms and people driving agri-business today
BTG Pactual closes LatAm timberland Fund II on $1.24bn; ADQ is moving fast to establish a year-round multi-crop platform at Unifrutti Group ; the $8.2 billion Bunge-Viterra merger runs into trouble in Canada; Bluefront Equity launches Fund II with $50 million already banked and more. Welcome to Field Notes, the start-of-the-week briefing from Agri Investor.
Tips & feedback to Binyamin Ali or email [email protected]
First look
BTG Pactual LatAm timberland Fund II hits $1.24bn close
BTG Pactual Timberland Investment Group has closed the second iteration of its Latin American commercial timberland fund on $1.24 billion.
BTF II is a 12-year vehicle with the option for two two-year extensions and a strategy focused on mature timberland assets in well established markets in Chile, Uruguay and Brazil.
The fund was launched in June 2020 with a $750 million target and and is the successor to the BTF I, which closed on $860 million in 2015.
They said it
“It wasn’t a great outcome. It certainly wasn’t great for the investors of AgBiome and certainly not for the employees and folks there”
Ginkgo Bioworks fellow and senior adviser Michael Miille assesses the damage at biotech company AgBiome , which has been sold off after it failed to raise further capital.
Agribusiness
领英推荐
ADQ beefs up Unifrutti
When ADQ acquired Unifrutti in March 2022, food and agriculture director Gil Adotevi said the move was designed to complement the UAE-backed investment company’s other investments in the food sector, which include a 45 percent stake in Louis Dreyfus Company .
Farmland
England and Wales farmland prices continue to rise
The value of farmland in England and Wales hit a new record high for the second quarter in a row in Q1 2024, according to data from British sales and lettings agency Knight Frank .
The Knight Frank Farmland Index, which tracks the value of bare land that have no houses or buildings in England and Wales, rose by just over 1 percent to hit an all time high of ￡9,250 per acre ($11,423; €10,718), up from ￡9,152 per acre in Q4 2023.
People
FarmTogether hires David Gould
FarmTogether has hired former AMERRA Capital Management executive David Gould in a newly created role as head of capital formation.
Gould will also serve as managing director in a role focused on expanding FarmTogether’s new and existing client relationships across it suite of offerings.