Private equity group Paine & Partners, owner of Icicle Seafoods and Scanbio, announced Tuesday it closed its latest agribusiness fund, raising $893 million (€748 million) in capital commitments.
The fund, known as Fund IV, was oversubscribed beyond its initial investment target, with investors from new regions, including the Middle East. Endowments and family offices were strong participants in the fund.
The new fund will focus on the food and agribusiness chain, focusing on upstream areas, but the company will also seek out downstream investments that fit its strategy as well.
