Sprott, Ceres Partners to form institutional farmland fund

Canadian alternative assets manager Sprott Inc (TSX: SII) has partnered with Ceres Partners, a U.S. farmland private equity firm, in the launch of a new institutional farmland fund. The Ceres-Sprott Institutional Farmland Fund will focus on acquiring and leasing farmland assets in the United States. Other details of the fund, such as its expected size, were not disclosed. Ceres manages Ceres Farms, a fund that owns nearly 100,000 acres of U.S. farmland with total assets of about US$620 million. In July, Canadian farmland private equity firm AreaOne Farms closed its third fund at $130 million.

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