Sunday, 26 April 2015
Last updated 2 days ago
Nov 23 2009 | 11:39am ET
Emerging markets specialist Pharos Financial Advisors has launched a $350 million private equity fund focused on acquiring and operating agricultural land in Eastern Europe, Eurasia and Africa.
The new vehicle, the Pharos Miro Agriculture Fund, is being managed by Miro Asset Management, which is part of Dubai-based global agriculture and timber operator Miro Holdings International. According to Pharos, Miro brings a proven track record in direct investments in agriculture and timber, as well as an extensive pipeline of projects available in regions including Romania, Moldova, Ukraine, Russia, Kazakhstan, Ghana and Tanzania.
Founded in 1997 Peter Halloran with seed capital from Soros Fund Management and Credit Suisse, Pharos Financial Group currently manages three funds—the Pharos Russia Fund, the Pharos Small Cap Fund, and the Pharos Gas Investment Fund.
"We are excited to launch our new private equity agriculture fund,” said Halloran. “We have identified a high quality pipeline of arable farm projects that meet our targeted returns of 25% annualized, including significant operating yield. Given global concerns over food security and the impacts of climate change, arable farms represent a timely investment in today's world. By combining our emerging markets investing background with Miro's extensive operating expertise in agriculture, we have created a significant edge for ourselves in identifying and running commercial arable farms."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…