In the first half of 2009 private equity funds lined up more than $2 billion to invest in farmland, according to Agcapita, a Calgary-based fund. BlackRock has raised $500 million to invest in agriculture. Philippe Heilberg, a former commodities trader for American International Group has leased 1 million acres in Sudan. Heilberg's New York-based Jarch Capital announced in April that it had acquired the land for an undisclosed amount through a Sudanese firm. Jarch plans to grow rice, wheat, and other crops for export. The owner of the land is Gabriel Matip, a son of General Paulino Matip, the leader of the armed wing of the Sudan People's Liberation Movement.
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