Global investment manager Fidante Partners announced that it has teamed up with private equity firm Proterra Investment Partners to provide European investors access to Asia’s $4-trillion food industry.
The partnership is part of Fidante’s broader strategic plan to build its European European product set and its global distribution footprint and is consistent with Fidante’s global growth strategy to expand its existing range of boutique partnerships, according to an announcement.
The partnership seeks to provide European investors the opportunity to tap into Asia’s food industry. Proterra Asia managing partner Tai Lin said the region is forecast to double its total spend on food over the next decade from around $4 trillion in 2020 to over $8 trillion by 2030.
“Growing populations, food supply chain disruption, greater commercial adoption of food and agri-food tech as well as greater consumer consideration around health, nutrition, and quality are creating investment opportunities across the entire food value chain,” Lin added.
Proterra Asia is the Asian arm of Proterra Investment Partners operating out of Singapore, Shanghai, and Mumbai. It manages an existing portfolio of over $1 billion. The firm’s Asia food strategy invests across the entire food value chain in the region, with a particular focus on the fast-growing and high return-oriented branded food sector.
Last month, the firm raised at least $35.7 million for its third Asian fund. DealStreetAsia last reported in May 2019 that Proterra was seeking to raise at least $700 million for this third fund.
Proterra was carved out of US agribusiness giant Cargill unit Black River Asset Management in 2016. It previously launched two funds for Asia – a $700-million second food fund and a $460-million first fund. Its investment ticket sizes range between $30 million and $50 million with a focus on India, China, Indonesia and some parts of Southeast Asia.
Cargill remains one of Proterra’s long time limited partners (LPs). Apart from food and agriculture, Proterra also invests in natural resource sectors like metals and mining.
“Proterra Asia’s Food Strategy offers an appealing investment prospect for investors, tackling the increasing demand for quality food in Asia,” said David Cubbin, head of distribution at Fidante Partners.
Fidante is a global investment management firm with AUM of approximately $46 billion. It forms part of the Challenger Limited Group, an ASX-listed investment management company.