Agcapita Partners L.P. (“Agcapita”) is pleased to announce that it launched its sixth fund, Agcapita Farmland Fund VI (“Fund VI”), on February 11th, 2015.
Fund VI intends to acquire a diversified portfolio of Canadian farmland with a focus on western Canada with the objective of providing returns through both capital appreciation via direct investment in farmland and income generation through cash rents.
Fund VI will be Agcapita’s first fund which seeks to provide a yield in addition to growth returns. The distribution policy will provide discretion to pay an annual distribution of up to 2.0% of invested capital, subject to there being positive appreciation in the value of the farmland portfolio over the relevant period, and subject to such other factors as Agcapita may consider relevant.
About Agcapita: Agcapita is a market leader and one of Canada’s most experienced farmland fund managers, launching its first fund in Q1 2008. Agcapita funds are Canada’s only farmland fund eligible for registered plans (RRSP, RESP etc). For more information on Fund VI please feel free to register online at the Agcapita website.
Not for distribution on a US wire service.
Forward Looking Information: This news release includes forward-looking information and forward-looking statements (collectively, “forward-looking information”) with respect to Agcapita and Fund VI. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases including, but not limited to, “expects”, “does not expect”, “is expected”, “anticipates”, “does not anticipate”, “plans”, “estimates”, “believes”, “does not believe” or “intends”, or stating that certain actions, events or results may, could, would, might or will be taken, occur or be achieved) are not statements of historical fact and may be “forward-looking information”. In particular, and without limiting the generality of the foregoing, forward-looking information contained in this press release includes, but is not limited to, information and statements concerning the launch of Fund VI, the business to be undertaken by Fund VI, the objectives of Fund VI and Fund VI’s intentions with respect to distributions. Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information but which may prove to be incorrect. Although Agcapita believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements and information because Agcapita can give no assurance that such expectations will prove to be correct. Forward-looking statements and information reflects our current beliefs, expectations, estimates and projections; our assumptions and forward-looking information are based on information currently available to us including, but not limited to, information obtained from third party industry analysts and other third party sources. Forward-looking statements and information involves significant known and unknown risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not, or the times at or by which, such performance or results will be achieved. A number of factors could cause actual results to differ materially from the results expressed or implied in the forward looking statements and information include, among other things: risks associated with the ownership and operation of farmland, including fluctuations in interest rates, rental rates and vacancy rates; general economic conditions; local real estate markets; supply and demand for farmland; competition for available farmland; weather; crop diseases; the price of grain and other agricultural commodities; changes in legislation and the regulatory environment; and international trade and global political conditions. Although the forward-looking statements and information contained in this news release are based upon what we believe are reasonable assumptions (including, without limitation, that (i) the demand for agricultural commodities is likely to continue to grow at a pace that is unlikely to be matched by growth in agricultural productivity, and (ii) investment demand for tangible assets such as agricultural commodities and farmland is likely to continue to increase for the foreseeable future), we cannot assure investors that actual results will be consistent with such forward-looking statements and information, and the differences may be material. The forward-looking information contained herein is made as of the date of this news release and we do not assume any obligation to update or revise them, whether as a result of new information, future events or otherwise, except as required by law.