Lempriere Capital and Australian Farms Fund Manager (AFFM) have joined to form a farmland management vehicle controlling $500 million. Lempriere is a 150 year old wool trader which also operates Cubbie Station, Australia’s largest irrigated cotton property in Southern Queensland which just completed sowing 21,000 hectares. The management of Cubbie Station will now come under AFFM. AFFM manages $150 million in properties across Australian through the Sustainable Agriculture Fund. AFFM will be 48% owned by Melbourne businessman Mike Fitzpatrick, 40% owned by Lempriere, and the remainder will be owned by management.
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