Agriculture • Farmland is being seen as a safe haven for pension funds.

Australia – $2 billion farm investment04 Jun 2012
A NEW company, TIAA-CREF Global Agriculture LLC, has completed a raising of $US2 billion to be invested in farmland in the United States, Australia and Brazil.

Early yesterday it said it had the backing of several major institutional investors such as the Swedish pension fund AP2, British Columbia Investment Management Corporation and the Caisse de dépôt et placement du Québec – one of the largest real estate managers in the world.

As the European debt crisis continues to rattle equity markets around the world, farmland is being seen as a safe haven for pension funds.

Caisse executive vice-president for private equity Normand Provost said the timing was right to deploy capital into this asset class. "Farmland presents a risk-return profile that meets our depositors’ objectives and that offers portfolio diversification," Mr Provost said. "This investment marks the Caisse’s entry into an emerging asset class, which will facilitate its exposure to the global demand for agricultural products."

The Australian Financial Review
Source: http://www.afr.com

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Statistics: Posted by yoda — Sun Jun 03, 2012 10:39 pm