The Dutch pension fund, PGGM, has allocated between €50 million and €100 million to the Black River Food Fund 2. Fund 2 received its first commitments in May 2014, and as of June 2014, the fund, which is managed by the private equity subsidiary of Cargill, has raised $500 million from U.S. investors and $100 million from overseas investors toward its goal of a corpus of $700 million, according to filings with the Securities and Exchange Commission. (SEC). PGGM was the largest investor in Black River Capital Partners Food Fund, Black River’s first fund, to which PGGM also committed between €50 million and €100 million, and which closed at $455 million in 2011. Maurice Wilbrink, spokesman for PGGM, expresses that because of the fund’s close ties to Cargill, it can avail itself of specific opportunities and advantages that other private equity funds may not. And together with the fund’s environmental, social, governance, and reporting principles, exhibits a strong investment opportunity for PGGM.
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