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Farrer closes to new investment after raising $500m for agriculture trading

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Commodity hedge fund Farrer Capital Management Pty has successfully raised $500m in investment capital and has now closed to new investors, becoming one of the few specialist agriculture-focused investment funds in the market, according to a report by Bloomberg.

In a statement, Farrer Capital announced that it had “successfully achieved its stated targeted capacity” and would no longer be accepting additional investment capital. Earlier this year, Bloomberg reported that the firm was targeting a $500m raise.

Led by Adam Davis, former Head of Commodities at Merricks Capital, Farrer Capital aims to capitalise on opportunities in agricultural markets driven by geopolitical tensions and climate change.

The commodity hedge fund sector has experienced fluctuating interest over the last two decades, with several prominent names like Astenbeck Capital Management, Blenheim Capital Management, and Clive Capital, leaving the market. While there has been a modest resurgence in recent years, new fund launches remain rare, and agriculture-focused funds are particularly scarce.

An index of the top 15 commodity hedge funds compiled by Bridge Alternatives, managing a collective $19 billion, includes just one agriculture-only fund.

Farrer Capital, with staff based in Australia, North America, and South America, also announced plans to continue its global recruitment drive to further strengthen its team.

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