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From Precy Dumlao, Opalesque Asia:

The managers of Pharos Miro Agriculture Fund said that the agricultural sector would become the new strategic asset of the 21st century because of the increasing global population and the limited arable land.

At the same time, Pharos Financial Advisors Ltd’s managing director John Papesh predicted that more investors would take note of this trend and participate in making investments in agriculture. ”Also that the play on food security will gain more momentum as many sovereign wealth funds are becoming increasingly active in this space,” Papesh said in an interview with Opalesque.

The private equity fund is scheduled to launch on 31-Mar. It is a joint venture between emerging markets fund manager Pharos and global agriculture asset manager and developer Miro Asset Management Ltd. The fund expects its first closing before its official launch, and to raise $350m by Q3 of this year. Papesh boasted that they have many global investors ranging from private banks, sovereign wealth funds, pensions, endowments and family offices which have expressed interest in the fund.

Indeed the Pharos Miro Agriculture Fund is the only fund to focus on the geographical locations of Eastern Europe, Eurasia and Africa and is the only fund leveraging the experience of a proven fund manager and agriculture asset manager. The fund targets 20-25% annualized returns from o......................

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