Cargill’s spin off of subsidiary Black River Asset Management’s private equity business has now been completed. The new private equity fund manager, Proterra Investment Partners announced its launch last week as a stand-alone, natural resources-focused investment advisor and private equity fund manager owned by the former employees of the Black River private equity business. Cargill remains as an investor in the funds.
The Proterra team will manage $2.1 billion in assets, retaining all related funds’ limited partner and fund commitments following their exit from Black River. The firm will continue to focus on opportunities in the agriculture, food and metals and mining sectors in developing countries.
“The Proterra team is excited to manage our private equity investments as an independent firm on behalf of our investors,” said Rich Gammill, Proterra’s Managing Partner. “Our team has worked together to serve clients for nearly a decade, identifying global private equity investment opportunities in the important sectors of agriculture, food, and metals and mining. We look forward to maintaining the relationship we have developed with Cargill over many years.”
The employee-owned firm has 49 professionals in offices in Minneapolis, Buenos Aires, São Paulo, London, New Delhi, Singapore, Shanghai and Sydney.