Kudu Investment Management, a permanent capital provider, has made an undisclosed investment in US farmland investor Homestead Capital USA.
According to the companies, Homestead will remain majority employee-owned and continue to be led by co-founders and co-CEOs Daniel Little and Gabe Santos following Kudu鈥檚 minority investment.
Founded in 2012 and based in San Francisco, Homestead manages over $1.6bn (鈧�1.5bn) in equity and credit assets. The firm acquires and manages farmland properties and also provides loans to farmland operators.
Little said: 鈥淚n Kudu we have found a partner who shares our conviction that investing in a diversified platform of US agricultural assets has key benefits that appeal to a broad group of investors.鈥�
Santos said, 鈥淎s investors, operators and lenders, we see many opportunities for growth. We have been looking for a partner with similar values and, with Kudu鈥檚 backing, we are well-positioned to accelerate our investments across the agricultural asset class.鈥�
Charlie Ruffel, Kudu鈥檚 chairman and managing partner, said: 鈥淲e are thrilled to partner with Dan, Gabe, and the Homestead team鈥攊n our view there was an instant cultural fit, and their skill in managing farmland investment is self-evident. And we believe that agricultural assets are poised to grow as investors allocate additional funds to this vital real assets market.鈥�
Founded in 2015 and based in New York, Kudu is backed by White Mountains Insurance and MassMutual.
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