Investment trust insider on Sustainable Farmland – A simpler route to Sustainable Farmland
After a prolonged period when flotations of new investment companies seemed to be off the table, three closed-end funds have decided to brave the storm and launched their initial public offers (IPO).
The three – Welkin China Private Equity (WCPE), Sustainable Farmland Trust (AGRI), and Independent Living Reit (LIVE) – are all quite different. The first two would open new territory for the investment company sector, while LIVE would compete with Civitas Social Housing (CSH), Triple Point Social Housing (SOHO) and Home Reit (HOME).
Today we will focus on Sustainable Farmland Trust, which is looking to raise £200m. Pleasingly, and unlike Welkin China, the issue is being made available to retail and professional investors.
The manager – International Farming Investment Management – has a long track record in the sector, with its roots in a Carolinas farming family with about 200 years’ experience and $2.2bn of assets under management.Funds raised will be split about 60:40 between an existing fund, IFC Core Farmland Fund, a permanent capital vehicle established in 2019, and a separate portfolio called Core Plus.
The existing vehicle holds… read more here