Fundraising on the road to recovery

H1’s haul represents the largest half-year fundraising figure since 2021, when the market raised $5.9 billion at the mid-year point.

Fundraising for agri-food and forestry funds in H1 2024 hit $5.1 billion, up from $2.9 billion at the same time last year. The Agri Investor data presented in this report counts the final closes of all closed-end funds and vehicles dedicated to agri-food and forestry.

This year has seen the largest timberland fund close for almost a decade, with BTG Pactual ’s LatAm Timberland Fund II reaching a $1.24 billion close in April. It became the second-largest private market timberland vehicle in the Agri Investor database, behind only Twin Creaks Timber’s $1.28 billion vehicle, which closed in 2015.

The timberland sector represents 34 percent of all capital raised by closed-end agri-food and forestry vehicles so far in 2024.

The other significant forestry fund close was Astarte Capital Partners’ $325 million SA Impact Forestry Fund, which significantly surpassed its $200 million target.

In terms of fundraising on an investment strategy basis, funds closed in H1 2024 have been split across three strategies: own-and-operate (42 percent), buyout (31 percent) and venture capital (27 percent). Continue reading…

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