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LGIASuper featured as pick of the crop for $112 million commitment to fresh produce

Posted on 7/03/2019 by SuperUser Account in Client news LGIAsuper
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We're excited to be sharing the news that LGIASuper has recently committed $112 million to Equilibrium Capital Group's newest fund, focusing on fresh food production across North America...

PICK OF THE CROP
Pension funds invest in everything from airports to office buildings these days, but it’s hard to beat LGIASuper’s latest bet on fresh fruit and veges.

The Brisbane-based super fund, which manages $12 billion in retirement savings, has committed $112 million to Equilibrium Capital Group’s newest fund that focuses on fresh food production across North America.

The fund has announced a new partnership with the Houweling’s Group, a leading North American operator of advanced greenhouses that grow tomatoes and cucumbers 365 days a year for major retailers including Walmart and Costco.

LGIASuper chief executive Kate Farrar says American consumers are demanding better quality fresh produce that is grown locally, rather than imported.

“Australians who have visited the United States often comment that the fresh produce doesn’t taste as fresh as it does at home,” Farrar says. “Fruit and vegetables in the US have traditionally been imported from as far away as Mexico or shipped long distances across the US, which reduces freshness and impacts taste.” Farrar says America is a late starter in advanced greenhouses, with only 4050ha under cultivation compared to 22,260ha in Europe. The greenhouses are often located next to renewable energy plants to allow the creation of a digitally controlled, optimum growing environment.

“We have a great photo of one of these greenhouses in Utah with snow-covered mountains in the background,” Farrar says.

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