Agriculture Crop Management is seeking $250 million in commitments for its newest fund, ACM Permanent Crops. The fund will be investing in permanent cropland and will be focusing on organic crops such as blueberries, citrus, and nuts as well as businesses involved in the production, processing, and marketing of fresh produce along the west coast of the U.S. Both the Maine Public Employees Retirement System (PERS) and the Washington State Investment Board have approved commitments of $50 million each and according to a Maine PERS investment memo, as of early August the fund has gained commitment total of $124 million. Overall, there are 33 agriculture-focused private equity funds in the market, and of this number, eight have raised $1.1 billion since January 2014 compared to nine funds that raised $1.1 billion in all of 2013 according to data by Preqin.
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