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  • Unconventional Ag

Cargill Launches Proterra Investment Partners Under Planned Three-Way Split of Black River

Cargill’s Black River Asset Management announced it has spun off Proterra Investment Partners – a new private equity firm formed as part of its three-way split announced last September.

The firm, which will be led by managing partner, Rich, Gammill, will have more than $2.1 billion in assets under management, with a focus on foods, agriculture, and metals and mining in developing countries.

Before being launched, Proterra managed Black River’s private equity business and related funds. "The Proterra team is excited to manage our private equity investments as an independent firm on behalf of our investors," said Gammill in a company statement. "Our team has worked together to serve clients for nearly a decade, identifying global private equity investment opportunities in the important sectors of agriculture, food, and metals and mining. We look forward to maintaining the relationship we have developed with Cargill over many years."

On September 28, 2015 Cargill announced it was splitting Black River into three companies under a planned restructure aimed at making Cargill lighter on its feet and more able to quickly respond to a fluctuating commodities market.

Of the three planned companies, Proterra is the largest with 49 employees and offices in London, Shanghai, Sydney, Singapore, New Delhi, Sao Paulo, and Buenos Aires, according to Reuters, and investments spanning Asia, Australia, sub-Saharan Africa, and South America according to Ned Dau, chief marketing officer and head of investor relations for Proterra.

In an interview with Reuters Dau declined to discuss the fund’s investment strategy, but did note that investments included farmland development and management, food processing and production, and shipping infrastructure.

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