Agriculture
Greenfield combines the transactional and financial experience of Morrison & Co and some of New Zealand's leading rural sector experts.
New Zealand's unique comparative advantages in the production of protein (i.e., dairy, beef, lamb) provide a long term investment opportunity. Morrison & Co established the Greenfields Group as a joint venture with highly experienced agriculture industry specialists in 2006 to identify, execute and manage rural sector investments. The team of twelve, based in Blenheim, New Zealand, are career specialists in rural property management, farm development and private equity.
Results
Greenfield Rural Opportunities Fund
Greenfield inaugural fund closed in 2006 after raising $30 million in equity. The fund acquired 21,000 hectares of underperforming pastoral farmland and focused on immediate capital reinvestment to increase productivity levels. The properties are actively managed to deliver yields of 10-12%. The fund targets yields of 10-12% and a target IRR of 25%. Additional follow on funds are under development.
Team
Paul Spinks - Director of Greenfield Group
Paul jointly established Greenfield in 2006. He has over 10 years experience in private equity as a member of Nomura's Principal Finance Group (London) investing around £3.6 billion over seven years with a gross IRR of 62% pa. He was one of the founding members of Terra Firma Capital Partners (London) in 2002, the largest first time private equity fund raised in Europe. His experience spans a wide range of financial and property based transactions.
Warren Taylor - Director of Greenfield Group
Warren jointly established Greenfield in 2006 after 15 years of rural property management and consulting experience. Previously he was an independent Agri-Business consultant, with a focus on property acquisition and development. In addition to his wide-ranging experience in agricultural property development, agricultural finance, strategy, marketing and management, Warren has a wide networking base across the agricultural sector.