Washington State Investment Board (WSIB) has approved a A$350m (鈧�223.9m) commitment to Laguna Bay Fund 2, an agriculture fund seeking to raise A$750m.
The $156bn pension fund told 91传媒在线 that the fund fits into the upstream and midstream agriculture segments of WSIB鈥檚 tangible asset framework with the potential for 鈥渕odest exposure to downstream agriculture through vertically integrated agribusinesses鈥�.
The fund鈥檚 manager Laguna Bay is an investment firm known for specialising in food and agriculture in the Australasian region.
The fund is expected to invest in upstream and midstream agriculture investments in row crops, permanent crops, livestock, water and aquaculture.
WSIB鈥檚 latest commitment follows a A$250m commitment it made in 2015 to Laguna Bay鈥檚 first fund.
The pension fund鈥檚 latest commitment was placed into its tangible assets portfolio, an $8.6bn (鈧�7.4bn) portfolio focused mainly on agriculture, minerals/mining and energy investment opportunities.
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