AAM is seeking to raise $60m to buy 40,000 head of cattle and grazing properties for its diversified fund, which is delivering 18pc total returns.
Agricultural investment manager AAM is hoping to raise around $60 million from wholesale investors and self-managed super funds to fund its push into northern Australia’s booming beef sector, and expand its portfolio of sheep grazing properties in central NSW.
“We have a pipeline of $120 million in assets we will look to acquire which will likely require about a $60 million raise,” AAM Investment Group managing director Garry Edwards told“However, if demand is strong AAM can accept further capital and bring forward acquisitions intended for the end of the calendar year.”
The carrot being dangled in front of investors is the potential to earn double-digit annual returns – ADAF is targeting total returns of at least 12 per cent per annum – having delivered more than 18 per cent per annum over the past financial years.