International Farming Corp. (IFC) is planning to raise $1.5 billion for its IFC Core Farmland Fund, an open-end 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-scale tenants.

Rooted in North Carolina agribusiness dating back to 1827, IFC is an agricultural manager with a team experienced in agricultural production in the Americas, Africa and Eastern Europe. IFC often sources off-market deals, and manages institutional farmland operations and their ancillary assets for its investors.

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

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

Other agricultural investments made by the Washington State Investment Board 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 Co., 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 (lkiernan@globalaginvesting.com) is editor with GAI Media and daily contributor to GAI News. The original and complete version of this article appeared on the Global AgInvesting website and can be accessed at this link: https://bit.ly/2PDuw16