Australian superannuation fund Brighter Super has awarded a A$75m (€42m) mandate to Riparian Capital Partners to invest in Queensland agriculture.

The A$34bn Queensland-based super fund is committing the capital to the Queensland Riparian Agriculture and Food Transition Trust (QRAFT), which will execute the next phase of its A$500m Queensland investment strategy.

Brighter Super, which announced its strategy in May 2024, has pledged to invest a further A$500m in Queensland assets on top of the A$1bn the fund already holds in assets in the state. 

Riparian Capital Partners is the second fund manager selected to support the Queensland investment strategy which will involve the acquisition of assets including infrastructure, property and agriculture. In December, the fund handed a AS$100m mandate Barings to acquire real estate assets across Queensland.

The Riparian mandate will take a diversified allocation model and seek to co-invest with leading producers and agribusinesses across a portfolio of real assets, alongside water investments, diversified by commodity and geography, according to the fund.

Kate Farrar, Brighter Super’s CEO, said: “This investment with Riparian Capital Partners aims to deliver solid financial returns while contributing to positive social outcomes in regional Queensland.

“The strategy will comprise a diversified portfolio across regional Queensland including farmland, water entitlements, regional agricultural infrastructure and agribusinesses.’’

Michael Blakeney, managing partner at Riparian Capital Partners, said: “Riparian is delighted to be partnering with the high-quality investment team at Brighter Super to implement the QRAFT mandate. The team at Riparian has an extensive history of investing in partnership with leading agricultural producers to deliver strong and sustainable returns, which in turn contribute to regional communities.

“Riparian has the capacity to invest across the agriculture supply chain, and we recognise the long-term value we generate is directly linked to the stewardship of the assets in which we invest and our social license.”

Riparian Capital, established in 2019, is majority owned by its team and supported by Pinnacle Investment Management as a shareholder.

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