8F Asset raises US$358m for land-based salmon aquaculture
Strong institutional and sovereign wealth support for high demand first fund
Private equity firm 8F Asset Management closed its 8F Aquaculture Fund I, backed by a global network of institutional and sovereign wealth funds, at US$358 million, well exceeding the initial target.
The investment strategy is focused on developing a socially and environmentally responsible land-based salmon farming business on a global basis. The fund has started to deploy capital and develop aquaculture facilities in Poland, Japan, France and the United States. It has a production target of 40,000 tons p.a., with plans to develop more sites elsewhere in the world, including in China and Southeast Asia.
“Our inaugural fund has met with very strong investor demand that considerably exceeded our initial final closing amount,” says Stephane Farouze, 8F’s chairman and founder. “We are delighted by the reception our fund has received from such a highly respected group of investors.”
The fund attracted investments from insurance companies, pension funds, family offices and the fish farming industry, in addition to institutional investors and sovereigns.
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