Within a period of approximately four months, the Gunn Agri Cattle Fund has reached $100 million in assets under management with its latest $20 million acquisition – the Goodar Station located in Queensland. The fund, which is operating its assets through Cunningham Cattle Company and is advised by Gunn Agri Partners, has recently announced an ultimate goal of acquiring a portfolio of cattle operations of A$300 million.

Run by the Munro family for 125 years, Goodar Station encompasses 18,338 hectares of combined freehold and leasehold land, with 2,500 hectares of land under cultivation, and runs 6,000 head of cattle.

Beef Central reports that Goodar will lend needed diversity to the Gunn Agri portfolio with its ability to produce fodder for finishing off grass-fed cattle, and will mitigate weather-related risk, being located in the southern end of the fund’s target geographical region, away from the fund’s more northerly properties.

“The Cattle Fund portfolio has scale and diversification in both climate and endmarkets with assets suited to breeding, growing out and fattening cattle. The Fund plans to expand the portfolio with assets identified by Gunn Agri as additional funding is deployed,” Gunn Agri Partners CEO, Alan Hoppe said.

Recent other purchases by the fund include the 406,000-hectare Esmeralda Station located in central Queensland for a reported $40 million, and a 36,000 hectare cattle aggregation for approximately $11 million, according toProperty Observer.

Founded in 2013 by former Macquarie Group chief operating officer in Brazil, Bill Gunn, Gunn Agri’s strategy is to acquire and operating beef assets that will provide investors with attractive appreciation, capital, and yield while being able to supply diversified export markets. The Gunn Agri fund manager does not charge management fees but instead has a fee structure based on costs and performance.

“The partners and directors and I discovered we had a common objective of starting an agricultural management platform that focused on aligning the interests of investors and managers in a way that wasn’t all that common and that would be sustainable. We thought it was good timing,” Gunn told Australian Financial Review (AFR), adding, “I think Australia is highly competitive and I think we could produce beef cheaper than anybody else in the world.”