Bonnefield raises initial $60 mln for fourth farmland fund

Canadian private equity firm Bonnefield Financial announced the first close of its fourth farmland fund. Bonnefield Canadian Farmland LP IV secured an initial $60 million commitment from an existing limited partner in Canada. Its predecessor, Bonnefield Canadian Farmland LP III, which closed at $261 million in 2014, is now fully invested. Like past funds, Fund IV will provide Canadian farmers with land-lease financing to support their growth and succession plans, and help them reduce debt and improve profitability. Established in 2009, Ottawa-based Bonnefield has developed a pan-Canadian farmland portfolio reflecting partnerships with some 53 operators.

PRESS RELEASE

Bonnefield Announces Initial Closing of Bonnefield Canadian Farmland LP IV

With fourth limited partnership, Bonnefield continues to invest in Canadian “farmland for farming”

TORONTO, Ontario July 30, 2016 – Bonnefield Financial today announced the initial closing of Bonnefield Canadian Farmland LP IV (LP IV) with a $60 million commitment from a current Canadian investor.

Like Bonnefield’s three previous limited partnerships, LP IV will be used to provide Canadian farmers with land-lease financing to help fund their growth and their succession plans as well as to help them reduce debt and improve profitability.

Investors in LP IV will have exposure to a portfolio of Canadian farmland with the goal of generating stable long-term growth of capital and annual income. The portfolio will be diversified across Canada and across different crops and farm operators.

“Bonnefield bridges the gap between investors and farm operators, helping to create value for investors, increase profitability for operators and preserve farmland for farming,” said Tom Eisenhauer, Bonnefield’s president and CEO.

LP III now fully deployed.

Coincident with the first close of LP IV, Bonnefield completed deployment of Bonnefield Canadian Farmland LP III, a $261 million fund that was raised in 2014. With its final investment now completed, LP III becomes the most valuable and most diversified portfolio of Canadian farmland ever assembled and the only portfolio with a coast-to-coast presence in Canada, having partnered with 53 farmers from British Columbia to Nova Scotia.

For more information on Bonnefield Canadian Farmland LP IV, contact invest@bonnefield.com

Photo courtesy of Reuters/Jim Young