Agcapita co-founder in Agri Investor

Agcapita, the Canadian retail farmland fund house, launched its fifth fund last week and expects to attract high net worth and institutional investors for the first time, according to Stephen Johnston, founder of the Calgary-based firm. Fund V, which is targeting  C$20 million ($18 million; €14 million), was initially planned for May but was delayed due to administration delays. It has not yet made any investments. “We haven’t had institutions invest with us to date,” Johnston told Agri Investor. “Historically we focused on registered plan retail investors.  What’s different about institutions is that they want to deploy capital that’s proportional to their size.  We have grown substantially over the last 6 years and now have the infrastructure and deal flow in place to deploy amounts in excess of $50 million – $60 million annually.  This is a more appealing size for high net worth and institutional investors.”

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