New York-based private equity firm AMERRA Capital is looking to raise $1 billion for two of its agricultural funds, according to recent filings with the U.S. Securities and Exchange Commission (SEC).
Founded in early 2009 by M.S. Sass-Macquarie Financial Strategies LP – a joint venture between M.D. Sass and the Macquarie Group – AMERRA Capital Management is an investment manager focused on the agriculture and metals sectors with over $1 billion in assets under management which the firm deploys through both private equity and debt strategies. Acting as a boutique merchant bank supporting growth-oriented agribusinesses, AMERRA also provides a full spectrum of customized debt capital offerings.
The firm is now reportedly seeking to raise a total of $1 billion for two investment vehicles. After raising a little more than $150 million, AMERRA is looking to raise another $600 million for its AMERRA Agri Offshore Fund III to reach a corpus of $750 million, according to an SEC filing. This fund began receiving commitments in April of this year and has 19 investors so far.
Additionally, AMERRA is looking to raise a further $220 million for another vehicle, the AMERRA Agri PE Fund. Opened at the end of September, the AMERRA Agri PE Fund has received commitments from 24 investors totaling $30 million, according to the SEC filing. If raised, the additional fund will bring AMERRA Agri PE’s corpus to its targeted $250 million.
Earlier this year, AMERRA acquired a 90 percent stake in Andromeda Group – one of the largest sea bream and sea bass producers in Greece from the South Eastern Europe Fund which is advised by Global Finance. Faced with a challenging business environment in Greece in recent years, Andromeda has been successful in acquiring and integrating businesses into its operation – a track record that attracted AMERRA to the investment.
“We are comfortable that AMERRA with its industry knowledge and international network is the right owner to take Andromeda to the next level,” said Mihalis Madianos, partner, Global Finance.
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Lynda Kiernan
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