– Proterra Investment Partners LP, a Minneapolis-based alternative asset manager with over $3.4 billion in AUM, has acquired AcreTrader, a leading farmland investment platform.
– Proterra specializes in private equity and private credit investments across the global food value chain.
– Rich Gammill, Proterra’s Managing Partner, highlighted AcreTrader’s data-driven platform, strong operator relationships, and experienced team as key reasons for the acquisition.
– AcreTrader will scale its farmland offerings while maintaining its mission to increase access and transparency in farmland investing.
– Customers can expect continued growth of investment opportunities and added resources through Proterra’s backing.
– The deal also supports the expansion of Acres.com as an independent land intelligence platform to meet rising market demand.
– Carter Malloy, Founder and CEO of Acres.com and AcreTrader, stated that the acquisition accelerates their mission to broaden access and deliver more value to farmers and investors.
– Since its launch in 2018, AcreTrader has enabled investment in over 140 farmland properties spanning 44,000 acres in 20 U.S. states.
– AcreTrader’s investment management arm has delivered net IRRs between 9.4% and 30.3% on realized deals.
– Financial terms of the transaction were not disclosed.
– The AcreTrader team will operate within Proterra under General Manager Rob Moore and Managing Director Drew Lipke.
– Acres.com will remain an independent entity led by Carter Malloy with a team of over 60 employees.
