News Ticker

Old Mutual lifts stake in UFF African Agri

Old Mutual Investment Group is raising its overall effective equity stake in UFF African Agri Investments to 49%. The deal has evolved from the long term relationship between the two organizations which saw UFF African Agri act as fund advisor to Old Mutual through its Futuregrowth Agri and Old Mutual Agri Funds. The new partnership expects to make up to $500 million in African farmland investments over the next 3 years. Terms of the equity transaction were not disclosed.

“As the largest manager of real assets in Africa, we have a deep belief in the opportunities in agricultural investing across the African continent.,” said Diane Radley, CEO of Old Mutual Investment Group. “Agriculture as an asset class has already gained huge momentum globally, but is still in its infancy in Africa. This presents a significant investment opportunity for both local and international investors.”

Both firms are signatories to the Principles of Responsible Investments in farmland, with farms assessed and monitored for compliance with the IFC’s standards on environmental, social and governance standards. In addition, on the farms in the portfolio, the funds implement a comprehensive education, healthcare and housing programs for farm workers.

Leave a comment

Your email address will not be published.