Proterra Investment Partners, a natural resources-focused investment advisor and private equity fund manager, has spun off from Cargill subsidiary Black River Asset Management. Proterra will now operate as a standalone company managing more than $2.1 billion assets.
Minneapolis, Minn. – January 25, 2016 – Proterra Investment Partners announced today its launch as a standalone, natural resources-focused investment advisor and private equity fund manager effective January 1, 2016. Prior to its launch, the Proterra team managed the Black River private equity business and related funds of Black River Asset Management, an independently-managed Cargill, Inc. subsidiary.
The Proterra team, having launched its first funds in 2010 under Black River, currently manages more than US $2.1 billion in committed capital. Proterra retained all related funds’ limited partners and fund commitments following their exit from Black River. Cargill will continue to be an investor in the funds. The firm’s investment strategies focus on agriculture (US $782 million in three funds), food (US $1.2 billion in three funds) and metals and mining (US $165 million in one fund).
“The Proterra team is excited to manage our private equity investments as an independent firm on behalf of our investors,” said Rich Gammill, Proterra’s Managing Partner. “Our team has worked together to serve clients for nearly a decade, identifying global private equity investment opportunities in the important sectors of agriculture, food, and metals and mining. We look forward to maintaining the relationship we have developed with Cargill over many years.”
On September 28, 2015, Cargill and Black River announced that three Black River businesses, including the private equity business which is now Proterra, were pursuing plans to spin off into three independent firms. The Black River board stated that a transition to employee ownership would position each business to best serve investors. Proterra is now employee-owned, with a team of 49 professionals in Minneapolis, London, Shanghai, Sydney, Singapore, New Delhi, Sao Paulo and Buenos Aires.
About Proterra Investment Partners
Proterra Investment Partners is an alternative investment manager focused on private equity investments in the natural resource sectors of agriculture, food, and metals and mining. Proterra has offices in Minneapolis, London, Shanghai, Sydney, Singapore and New Delhi. www.proterrapartners.com
About Black River Asset Management
Black River Asset Management is an asset management firm specializing in alternative investment strategies. Formed in 2003, the Firm is an independently managed subsidiary of Cargill.