Oregon invests $100m in agriculture fund

The Oregon Investment Council has committed $100 million to Brookfield Brazil Agriculture Fund II, according to recent meeting documents.

The agriculture fund, managed by Brookfield Asset Management, targets the acquisition of pastureland and partially converted farmland and converts it to farmland focusing primarily on the production of soybeans and corn. Brookfield is aiming to raise $500 million in equity commitments for the fund.

The investment council, which invests on behalf of the $69.7 billion Oregon Public Employees’ Retirement Fund, has a 12.5 percent target allocation to alternative assets.

The New Mexico State Investment Council committed $75 million to the fund in May.