Hi Greg
Believe you are correct about the current exits, they are close to finishing sale of latest farms, this should reduce FUM and be the last of the large blocks of farmland under management. Proterra is Asia Pacific based rather than focused just on Australia. Becs Wilson has been heavily involved in the fake egg company in Singapore (*from The Weekly Times podcast).
Proterra are raising $USD500M FUM in the US at the moment, this should more than offset any FUM decreases in Australian assets with the cash being returned to UK and European investors.
Not sure what will happen in Australia, but it did seem there were opportunities worth exploring (multi-generational farms are coming onto the market). This land would benefit from Proterra’s approach, add value by improving and repurposing the land to other crop types.
It also sounded like Becs was keen to talk to Industry Super Funds, but didn’t give a clue as to whether there had been any discussions. Thought PAC would be helping here. Otherwise Proterra needs to start raising FUM for a fund here.
Another negative with Proterra farmland sales is that PAC doesn’t earn performance fees from Proterra. These are retained by management.
Best of Luck
Lost
Hi GregBelieve you are correct about the current exits, they are...
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