Black River spins out agri and food assets

Black River Agriculture Fund 2, an own-and-operate farmland fund, had invested primarily in row crops in Australia and Latin America by September last year.

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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