Ropes & Gray has advised Paine Schwartz Partners, a specialist in sustainable food chain investing, on Paine Schwartz Food Chain Fund V, which has closed with USD1.425 billion in total capital commitments.
Fund V, which exceeded its original target and hard cap due to oversubscribed demand and strong support from its investors, is Paine Schwartz’s largest fund to date, representing a global base of limited partners from the US, Canada, Europe, Middle East and Asia.
Consistent with Paine Schwartz Food Chain Fund IV, Fund V will focus exclusively on attractive investment opportunities along the food and agribusiness value chain. Paine Schwartz has a 20-plus year track record in the sector investing more than USD2.0 billion of equity capital, as well as building a team of investment and operating professionals with deep domain expertise. The firm will continue to focus on identifying opportunities through a proactive, thesis-driven approach, and work closely with management teams to build significant value through its operationally-focused investment strategy.
Kevin Schwartz, Chief Executive Officer and a founding Partner of Paine Schwartz, says, “We are excited about the successful closing of Fund V. This was truly a global capital raising effort, with participation from new and existing limited partners around the world. We have seen an increasing number of institutional investors focused on the food and agribusiness opportunity set, along with the need for sustainability, which is synergistic with driving positive investment outcomes in this sector. We have built a leadership position and successful track record in this area over two decades, and look forward to continuing that execution with Fund V.”
Amanda Persaud, Ropes & Gray asset management partner, says: “We are pleased to have partnered with Paine Schwartz in bringing together a diverse, global base of investors focused on food and agribusiness who are committed to Paine Schwartz’s strong record as a market leader in sustainable food investing.”