3 December 2024: Toesca Asset Management, a leading alternative investment manager based in Santiago, Chile, and Astarte Capital Partners, a global investment firm headquartered in London, United Kingdom, specializing in sustainable real assets, today announced a partnership to establish an institutional platform focused on regenerative agriculture investments in Chile and the broader Latin American region.
This first fund, Toesca Permanent Crops II (“TPC II”), a member of the Astarte Platform, is set to invest US $350 million in a diversified portfolio of permanent crops based on regenerative and sustainable practices, focusing on Chile’s competitive advantages in permanent crops and targeting strategic expansion into Peru and other Latin American markets. Toesca and Astarte have already committed c.$45 million as sponsor capital to start investing in the strategy. The portfolio aims to deliver strong financial returns through high-performance orchards featuring carefully selected species, all operated under the highest operational, environmental and social standards. Starting in early 2025, the initial investments will focus on permanent crops, which are experiencing a significant rise in global demand due to shifting consumer preferences towards healthier eating habits and their vital contribution to food security.
Combining their strengths, Toesca and Astarte offer a unique blend of local expertise and deep knowledge of Chilean agriculture alongside Astarte's global reach and commitment to natural capital investments. Together, the two firms bring extensive experience in managing over 82,000 hectares of natural capital assets across South America, backed by a proven track record of strong financial returns, carbon sequestration, and positive environmental and social impact.
Carlos Saieh, Partner and Chief Executive Officer of Toesca Asset Management, said:
“In more than 20 years of investing in Latin America, we have never been more excited about an opportunity than we are today with this new platform. The combination of the natural competitive advantages of Chile and Peru for fruit production, along with the opportunity to provide counter-cyclical produce to the Northern Hemisphere, all within a dollarized industry, makes this investment case hard to beat compared to other alternatives. We've been carefully observing how institutional capital is starting to flow into the asset class in the region, and it is a wave that can only grow, further confirming our optimism about the future of this strategy.
The opportunity lies not only in the extremely attractive economics of each project we are investing in, but also in the positive impact we can have on both the environment and the local communities that will benefit from our responsible and sustainable development practices.”
Mrs. Teresa Farmaki, co-founder of Astarte Capital Partners, said:
“We believe that sustainable agriculture is at the heart of the natural capital agenda, and we are thrilled to announce our partnership with Toesca. Together, our combined expertise will create a unique platform focused on regenerative agriculture assets in Chile and the broader Latin America region, shaping a sustainable future for generations to come. Regenerative agriculture investments are an emerging sector with tremendous potential, acting as a crucial catalyst for sustainability and food security. Developing sustainable agricultural assets generates significant environmental and social benefits, perfectly aligning with our commitment to responsible business practices.
“With Toesca’s extensive experience in real assets investing and our shared dedication to ESG principles, we are well-positioned to capitalize on the unique opportunities this sector offers, particularly in Chile. We are very excited to be starting our partnership together and we look forward to delivering on the positive impact that our joint venture can achieve.”
For more information please contact:
Media:
Caroline Villiers cvilliers@keplercomms.com +44 (0)7808 585184
Charlotte Balbirnie cbalbirnie@keplercomms.com +44 (0)7989 528421
About Toesca Asset Management:
Toesca is a Chilean asset manager that specializes in alternative investments in the Americas founded in 2016 by a group of independent executives who have successfully collaborated for more than two decades. Prior to establishing Toesca Asset Management, the Toesca team ran Chilean asset manager Celfin Capital for 17 years, which became BTG Pactual Chile.
Toesca has raised $2.3 billion of institutional capital, which has been strategically invested across illiquid alternatives including real estate, infrastructure, private credit, and regenerative agriculture. The founders and management team of Toesca possess deep expertise and strong connections within the Chilean agriculture sector.
About Astarte Capital Partners:
Astarte Capital Partners is a London-based asset management firm, founded in 2015, that specializes in private markets and is dedicated to sustainable real assets on a global scale. Astarte’s primary mission is to provide institutional investors with access to thematic sectors, including natural capital, infrastructure, and real estate.
Astarte focus on investment opportunities that align with key macroeconomic trends such as climate change mitigation, demographic shifts, resource efficiency, and technological advancements. Astarte's strategy revolves around serving as a strategic partner and catalyst for asset managers, operators, and thematic investment platforms that exhibit a strong track record and substantial growth potential within their respective asset classes.
With over 300 years of combined experience in asset management and investment fund formation, Astarte Capital Partners emphasizes collaboration with experienced teams to enhance institutional capabilities and drive long-term success.
