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News from Global AgInvesting 2011: Galtere Targets $1 Billion in Brazil Rice, Australia Beef Assets (5.4.2011)
by Debarati Roy

May 4 (Bloomberg) -- Galtere Ltd. hopes to raise $1 billion for a private-equity fund created in September to invest in
agricultural assets, according to Renatto Barbieri, the portfolio manager.

Half the fund will be invested in rice farms in Brazil and in beef and cattle production in Australia, Barbieri said. The remaining money will be allocated to infrastructure, including grain-storage facilities, he said.

“We are looking at rice farmlands as it is the main food crop,” Barbieri said yesterday during an interview at an agriculture conference in New York.  “Have you heard of anyone dying because of not eating sugar or corn or soybeans?”

Galtere was founded in 1997 by Renee Haugerud, who spent 15 years at Cargill Inc., according to the company.

For Related News and Information:
Top commodities stories: CTOP <GO>
Commodity funds: TNI CMD FND <GO>
For a Menu of Agriculture-related Functions: AGRS <GO>

--Editors: Steve Stroth, Millie Munshi

To contact the reporter on this story:
Debarati Roy in New York at +1-212-617-5307 or
droy5@bloomberg.net

To contact the editor responsible for this story:
Steve Stroth at +1-312-443-5931 or
sstroth@bloomberg.net.

 

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