Paine Schwartz Partners has raised $1.425 billion for its fifth food and agribusiness private equity fund. This is the largest private equity fund for the industry outside of the farmland space.
The fund exceeding its original target and hard cap due to oversubscribed demand, according to a press release detailing an investor base from US, Canada, Europe, the Middle East and Asia. Both new and existing investors joined the fund.
Fund V will follow a similar strategy to Paine’s previous funds, which have invested more than $2 billion over 20-years, and invest in companies along the supply chain.
“We have seen an increasing number of institutional investors focused on the food and agribusiness opportunity set, along with the need for sustainability, which is synergistic with driving positive investment outcomes in this sector,” wrote Kevin Schwartz, CEO and founding partner of the firm.
Stay tuned for updates.