Cargill unit Black River spins off food & farm-focussed private equity firm

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Cargill Inc subsidiary Black River Asset Management LLC announced on Monday the spinoff of a private equity firm focused on food, agriculture, mining and metals investments primarily in developing countries.

With more than $2.1 billion in assets under management, Minnesota-based Proterra Investment Partners is one of three independent companies emerging from Black River after Cargill announced its subsidiary‘s breakup in September.

Cargill is in a restructuring aimed at transforming the 150-year-old company into one more responsive to commodities market swings. Losses stemming from the liquidation of hedge funds managed by Black River dragged down Cargill profit in the company’s most recent quarter.

Employee-owned Proterra said it would retain all of its fund commitments and limited partners, including Cargill.

Proterra has $782 million in investments in three food-focused funds, $1.2 billion in three agriculture-related funds and $165 million in a metals and mining fund, the company said.

The firm has investments in regions of Asia, Australia, sub-Saharan Africa and in South America, said Ned Dau, Proterra’s chief marketing officer and head of investor relations.

“We think all of those areas provide opportunities,” he said in an interview on Monday. Dau added that Proterra’s investments included farmland development and management, shipping infrastructure and companies focused on production and processing of foods like meat and dairy.

Dau declined to elaborate on the fund’s investment strategy.

Headquartered in Minneapolis, Proterra has offices in London, Shanghai, Sydney, Singapore and New Delhi. The company employs 49 staff in those cities as well as Sao Paulo and Buenos Aires.

Also read:

US-based agribusiness major Cargill invests another $40m into Vietnamese farm sector

India: Future Consumer to raise $55m from Cargill’s PE arm, promoters

Reuters

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.