CHARLOTTE — Nuveen Global Farmland Fund, based out of Charlotte, has raised around $464.6 million, according to a recent securities filing.
Seven investors contributed to the round.
The filing did not indicate how the funds would be used.
The pooled investment fund falls under the umbrella of Nuveen, formerly Nuveen Investments, a global investment manager with headquarters in Chicago, Illinois and an office in Charlotte, North Carolina.
According to its website, Nuveen’s farmland investment approach aligns with the company’s investment philosophy: we are long-term investors helping to create successful financial outcomes for our customers and clients decades into the future.
“With investments that often last 20 years or more, we are committed to preserving farmland for the long term – conserving water, minimizing chemical use and nutrient runoff and respecting the rights of our tenants, partners and local communities,” it reads.
These commitments, which are essential for corporate responsibility and investment success, define our approach to managing farmland assets:
- Acquire farmland assets generally with long-term investment horizons.
- Emphasize the purchase of existing agricultural land rather than converting virgin land or forest into farmland.
- Respect local laws and best practices for protecting sensitive environmental or cultural areas.
- Diversify land holdings by geography, climate factors, crop types and agricultural markets.
- Apply capital and technology to increase productivity and minimize environmental impact.
Nuveen implements farmland investments through its affiliated asset manager, Westchester, with local offices to effectively oversee global farm properties across four continents.