ADM Capital holds $100m first close

The vehicle is targeting a $500m final close by the end of 2018, according to a statement issued by the GP.

The fund will be managed from ADM's London and Sydney offices.

Investors
According to a statement, the vehicle has attracted "high-quality cornerstone investment", including a significant commitment from Arch Capital Group. ADM's 2009-vintage CEECAT recovery fund, which held a €265m final close in July 2011, also received commitments from the European Investment Fund.

Investments
Cibus Fund will make buyout and growth capital investments in sustainable food processing and production businesses across the European and Australasian mid-markets. It also has a mandate to make growth capital investments in parts of the food and agriculture segments that have potential for technological overhauls.

The vehicle will look to capitalise on challenges brought about by global demographic changes and changes to trade patterns. In particular, the GP cited opportunities related to developing economies, which are struggling to meet demand for high-value foods as a result of growing middle classes.

People
ADM Capital Europe – Robert Appleby (joint chief investment officer, co-founder); Jason Silm (head of agriculture).

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