Arable Capital Partners Closes Debut Fund at $300M
August 29, 2017
Washington State and California-based private equity firm Arable Capital Partners (Arable) announced the first and final closing of its maiden fund at $300 million.
Headquartered in Bellevue, Washington, and Bakersfield, California, Arable was launched by a team of highly experienced industry veterans who are aiming to fill the funding gap that exists in the food and agriculture sectors.
Aware that by its very nature, agriculture requires a long-term investment outlook, Arable is targeting investments in operations headquartered in the Western region of the U.S. – often with family management or operating teams, along the entire agricultural supply chain – that will have a span of 15 or more years.
Chris Brenes, vice president, Arable Capital Partners told GAI News that the focus of the fund will be on operating businesses in agriculture, so investments could be anywhere in the spectrum of crop types as well as businesses that aren’t tied to a particular crop.
“The formation of Arable is primarily driven by the attractive investment opportunities we are seeing throughout the market, and a belief that Arable is uniquely suited for the food and agribusiness sector with our team of experienced agricultural operators and investors.” said Derek Yurosek, managing director of Arable.
Arable’s team, which has experience in both real assets and as operators, includes:
Greg Richards, founder and managing director. Richards had previously been a co-founder of HarvestWest Investments, a farmland investment fund focusing on opportunities in the Pacific Northwest. The fund reached its full investment goal in February of last year and is now managing 13,000 acres located across the states of Washington, Oregon, and Idaho that are being leased out to local operators. Prior to HarvestWest Investments, Richards was the owner and CEO of Rung Industries, a sand and gravel equipment company that was sold in 2010. His career spanned positions in business development in the tech industry, an analyst with Lehman Brothers’ Investment banking group, and a CPA with Deloitte & Touche.
Derek Yurosek, managing director. Before Arable Capital Partners, Yurosek was the Head of Agriculture Operations for Cottonwood Ag Management – the ag asset management team for BMGI/Cascade Investment – the private holding company for Bill and Melinda Gates. He oversaw an asset portfolio comprised of more than 150,000 acres, and vertically integrated farming and food processing businesses in the U.S. Prior to Arable Capital Partners, Yurosek was vice president of regional operations at Bolthouse Farms in Bakersfield, California for 14 years.
Chris Brenes, vice president. Brenes sources, conducts due diligence, structures, and executes new investments for the fund while providing support for Arable’s portfolio companies. Brenes was previously vice president at private equity firm Evergreen Pacific Partners; regional director of corporate strategy at Boeing Commercial Airplanes; an associate with Morgan Stanley’s Investment Banking Division; and a combat decorated Navy SEAL.
Zak Karlen, vice president. Karlen also is responsible for sourcing, conducting due diligence, structuring, and executing new investments for the fund while providing support for Arable’s portfolio companies. After 19 years in the industry, Karlen came to Arable following his role as general manager with Bolthouse Farms where he oversaw a business unit that included more than 300,000 acres, various processing sites across the U.S. and Canada, and 2,000 employees.
Together with associate Hunter Hanson and administrative operations manager Tanya Freeman, the team is able to leverage their combined investing ability and experience in building and managing successful agricultural businesses to provide a unique investment vehicle with a family business culture.
Although the fund has not begun investing, Brenes told GAI News that the team has a robust pipeline they are working on.
“Arable is a natural progression following the track records created in both agribusiness and investing that this team has built over the past decade,” said Richards.
And although the fund has not begun investing, Brenes told GAI News that the team has a robust pipeline they are working on.
“We are excited to execute on our food and agriculture-focused investment strategy by partnering with companies and management teams in the industry with a shared long-term vision.” said Richards.
Lynda Kiernan is Editor with GAI Media and daily contributor to GAI News. If you would like to submit a contribution for consideration please contact Ms. Kiernan at email@example.com
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