September 22, 2018

International Farming Corporation (IFC) is planning to raise $1.5 billion for its IFC Core Farmland Fund – an open-ended vehicle focused on investing in U.S. farming operations.

Under its mandate, the Core Farmland Fund intends to pursue large U.S.-based farmland acquisitions, which it will then lease to large-sale tenants.

Rooted in North Carolina agribusiness dating back to 1827, IFC is an agricultural manager with a team experienced in agricultural production in the America, Africa, and Eastern Europe. Through leveraging deep ag production knowledge, multi-generational industry relationships, thorough understanding of vertical integration within the farm value chain, and an innovative in-house agtech solutions platform, IFC’s team of PhD’s in Agricultural Sciences, certified professional agricultural engineers, certified crop advisers, and licensed crop consultants is able to often source off-market deals, and successfully manage institutional farmland operations and their ancillary assets for its investors.

Over the long term, through the Core Farmland Fund,  IFC is aiming to realize both income and capital growth through investment in a range of row, permanent, and speciality crop farms, that offer diversity by geography, management, and associated factors such as storage capabilities or irrigation.

IPE Real Assets reports that at its upcoming board meeting, the $128 billion Washington State Investment Board (WSIB) will be considering investing up to $250 million in the fund – a move that has already been given a nod by the pension fund’s investment consultant, Callan.

Other agricultural investments made by WSIB in recent years include a commitment of up to $100 million in Homestead Capital USA Farmland Fund II in September 2016, the backing of the ACM Permanent Crop Fund, and the Laguna Bay Pastoral Company, which in August of this year acquired eight Tasmanian dairy farms in a deal exceeding $50 million through its Laguna Bay Agricultural Fund I.

– Lynda Kiernan