Ceres Partners is a specialist investment manager focused exclusively on Food & Agriculture. According to the USDA, Food & Agriculture is an $800 bn sector of the economy representing approximately 5% of GDP. However, Food & Agriculture has been under invested for decades and even today there are only a small number of firms focused on the sector, resulting in less intense competition and less efficient markets.
Ceres manages two investment strategies: Farmland and Growth Equity.
Farmland delivers current income and capital appreciation with low volatility. Importantly, farmland has been a highly effective diversifier, with returns uncorrrelated with most asset classes. Ceres’ open-ended, commingled farmland vehicle, Ceres Farms LLC, was launched in December 2007. Today, Ceres Farms has $600,000,000 AUM and has delivered annualized net returns of over 12% since inception. Ceres Farms has over 95,000 acres of farmland in 10 states.
Growth equity focuses on generating strong risk-adjusted absolute returns. Ceres’ growth equity vehicle, Ceres Food & Agriculture Opportunity Fund LP was launched in 2015 to invest in emerging companies in food and agriculture. To date our Opportunity Fund has invested in two companies: Hop Head Farms, a leading independent grower, processor and marketer of premium hops to top craft brewers; and Sugarloaf Winery, a greenfield custom crush winery in Sonoma County, California, providing smaller, high-end commercial wine makers with a state of the art wine making facility which would be prohibitively expensive for them to build themselves. The Opportunity Fund is also close to making an investment in commercial scale indoor production of lettuce and other leafy greens.
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