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E-book Fields of Gold : Financing the Global Land Rush

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Penilaian

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On the third floor of a stately hotel, investment conference participants were spilling into a buzzing reception area. Long tables draped in white tablecloths held clusters of gleaming silver coffee urns surrounded by a lavish array of refreshments: tropical fruit salad, pastries, giant chocolate chip cookies, tiny crustless sandwiches, the works. The conference attendees—mostly white men between the ages of thirty and seventy, wearing suits in every conceivable shade of the same three colors—chatted in clusters against the walls and around linen-covered cocktail tables, some stalling in conversation before even making it to the coffee. At investment conferences like this, any conversation could lead to a lucrative investment deal or a new business partnership, so the coffee breaks are not really breaks at all. For half an hour, fund managers, corporate executives, and investors rubbed elbows to the sound of teaspoons tinkling against china until eventually a bell rang to announce the coffee break over.The attendees gradually trickled through swinging doors into a large ball-room bordered by two tiers of gilded balconies and lit by an enormous crystal chandelier. There they seated themselves at tables facing the stage, where the next speaker was already being introduced. Thus far, the scene probably resembles every investment conference ever, but there was one major difference. The sub-ject being discussed among all this finery was not the future of international banking or the latest in high-frequency trading. It was farming. These well-heeled men were in the market for dirt. The presenter now walking onstage was about to regale them with the particular benefits of buying farms in Ukraine, Australia, Brazil, or the American Midwest. Others at the conference would discuss precision agricultural technology and irrigation systems. Farmland had somehow become an enticing new frontier for capital markets.In recent years, the financial sector has developed a surprising interest in farms. Institutional investors—pension funds, university endowments, private foundations, and other organizations that manage huge pools of capital—are increasingly incorporating farmland into their investment portfolios. The same is true of those extremely wealthy people who in financial circles are euphemistically termed “high-net-worth individuals.” This investor interest has spawned a host of new asset management companies eager to accommo-date and encourage investors’ newfound passion for soil. Promoting shiny new investment vehicles including farmland-focused private equity funds and real estate investment trusts (REITs), these managers promise to shepherd inves-tor capital safely, and often extremely profitably, into plots of farmland the world over. This book examines why and how this transformation is taking place, drawing on several years of research on the global farmland investment industry, with a particular focus on two countries: the United States, which is a source of much investment capital and an established farmland investment target, and Brazil, which is an alluring, more frontier destination for interna-tional farmland investors.

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Ketersediaan

Informasi Detail

Judul Seri

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No. Panggil

332 FAI f

Penerbit

USA : Cornell University Press., 2021

Deskripsi Fisik

232 hlm

Bahasa

English

ISBN/ISSN

9781501750090

Klasifikasi

332

Tipe Isi

text

Tipe Media

computer

Tipe Pembawa

online resource

Edisi

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Subjek

Financial Economics, Finance

Info Detail Spesifik

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Pernyataan Tanggungjawab

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Versi lain/terkait

Lampiran Berkas

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