SEC: Portland sustainability fund lands $74M
By Andy Giegerich
Digital Managing Editor
A Portland-based investment firm has procured $74 million for an agriculture-linked fund.
The firm, called ACM Permanent Crops LLC, shares the same Pearl District office address as Equilibrium Capital Group. The fundraising round was disclosed in a Feb. 14 filing with the Securities and Exchange Commission.
Bill Campbell, Equilibrium’s CFO who’s listed on the SEC filing as ACM’s assistant secretary, said by email that the group can’t discuss the filing because it’s in a quiet period.
The company’s website indicates that the firm seeks “superior value creation from vertically integrated, sustainable farming.”
Form D filings sometimes offer an incomplete picture of a fundraising round. It’s also unclear if the ACM fund plans to continue raising money until it hits a stated $200 million offering limit.
According to the SEC filing, the securities first went on sale Jan. 30. The fund is accepting no investments lower than $5 million.
The filing indicates that three investors have so far put money into the fund.
Equilibrium’s Principal Dave Chen, during a November 2012 SBO event, maintained that conversations about agricultural investing have become the norm in recent years. He at the time pointed to the Michigan Municipal Employees’ Retirement System’s investment of $180 million into a sustainable agriculture fund.
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