Homestead Capital has collected $532 million for its Homestead Capital USA Farmland Fund III, a recent SEC filing shows.
The closed-end fund is targeting $760 million to invest in agricultural properties in the United States.
According to the filing, 21 investors backed the fund. The firm received support from a diverse range of leading institutional investors, the majority of which are pension funds, endowments and foundations, and also include funds of funds, high-net-worth individuals and insurance companies, according to the firm’s website.
The firm intends to acquire farm investments in the Mountain West, Pacific, Midwest and Delta regions, and construct a diversified portfolio of assets across those regions, crops, lease types, farm operators and certain other risk factors.
