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’s minority investment.
Founded in 2012 and based in San Francisco, Homestead manages over $1.6bn (€1.5bn) in equity and credit assets. The firm acquires and manages farmland properties and also provides loans to farmland operators.
Little said: “In 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.”
Santos said, “As investors, operators and lenders, we see many opportunities for growth. We have been looking for a partner with similar values and, with Kudu’s backing, we are well-positioned to accelerate our investments across the agricultural asset class.”
Charlie Ruffel, Kudu’s chairman and managing partner, said: “We are thrilled to partner with Dan, Gabe, and the Homestead team—in 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.”
Founded in 2015 and based in New York, Kudu is backed by White Mountains Insurance and MassMutual.
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