Private Equity Deals & Transactions

Apollo seeks agribusiness for $2.8bn natural resources fund

Apollo is still building on its platform Pinnacle, which acquires and scales up agri inputs businesses, but will look opportunistically at other agribusiness assets with its latest fund.

By
Chuck Stanley
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Apollo is still building on its platform Pinnacle, which acquires and scales up agri inputs businesses, but will look opportunistically at other agribusiness assets with its latest fund.

Apollo Group is likely to make investments in agriculture from its second natural resources fund, which has raised $2.76 billion, according to SEC filings.

An industry source has told Private Equity International sister title Agri Investor that although the fund is primarily focused on energy, metals and mining, it is also likely to look for opportunistic investments in agribusiness.

Apollo would look at at inputs, processing, finishing, distribution, preservatives or aquaculture acquisitions that fall in line with the fund’s targeted rate of return of above 20 percent. The source added the fund’s return profile would mean it would not target direct investments in farmland or timberland.

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