Cargill subsidiary Black River Asset Mangement has spun out the lion’s share of its agriculture, food, metals and mining assets into a “natural resources-focused” private equity firm called Proterra Investment Partners, Agri Investorreports.
The new advisor and private equity fund manager, which has more than $2.1 billion in committed capital, has “retained all related funds’ limited partners and fund commitments”, according to a company statement. Proterra’s investor relations manager, Ned Dau, added there was no change to the terms of the funds.
Agriculture investor and trader Cargill said it would dismantle its $7.4 billion asset management unit, Black River, in September, in the face of weak investor demand for its hedge fund strategies, as well as its private equity business.
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