Pharos Financial Launches Agriculture Fund

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." 


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...