October 7, 2016

Homestead Capital filed an amendment today to their Fund II documents with the Securities and Exchange Commission (SEC) lifting the size of the raise from an original targeted corpus of $350 million to $400 million.

Last month GAI News reported that on September 1, the $108.5 billion Washington State Investment Board (WSIB) was scheduled to consider a possible allocation of up to $100 million to Homestead Capital USA Farmland Fund II. This amended filing by Homestead to lift its target for Fund II may mean that a commitment from WSIB has either been approved or will shortly be so.

With offices in Council Bluffs, Iowa and San Francisco, California, Homestead is a vertically integrated investment platform focused on investing in operating farmland in the Mountain West, Delta, Midwest, and Pacific regions of the U.S. Its portfolio is constructed of a diversified range of crops, lease types, operators, risk factors, and topographies geared to foster value creation through capital improvements, economies of scale, improvements to management, crop selection and rotation, and custom operating strategies.

“We are actively involved throughout the entire process,” Dan Little, head of portfolio construction for Homestead told GAI News in July of 2015 when speaking about Homestead’s investment strategy, “everything from farmer selection, seed selection, crop rotation, capital improvement, monitoring the farm during the growing period, to helping market the crop.”

In July of this year, the $12.3 billion MainePERS also made a commitment of $50 million to Homestead Capital Fund II, helping to bring the fund’s total closed investments to a current $387.5 million according to the latest SEC filing.