Los Angeles County Employees Retirement Association (LACERA) has acquired a limited partner鈥檚 $46.4m (鈧�42.5m) interest in TIAA-CREF鈥檚 second global farmland fund, the pension fund disclosed in a meeting document.
LACERA鈥檚 latest investment into TIAA-CREF Global Agriculture Fund II follows a $265m secondary investment the pension fund made into Fund II in February last year.
The agriculture fund invests in a mixture of row crop and permanent crop assets located in the US, Australia, Brazil, Chile and New Zealand.
TIAA-CREF for its second global farmland fund, two years after it had for its initial vehicle.
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