Pitch desks sent to institutional investors and high-net-worth types last week say it will aim to hit 10 to 12 per cent annualised returns.
Regal’s agricultural manager Kilter Rural is readying a $500 million fund, kicking off with three farm and water assets in NSW’s Riverina region that it thinks will be home to a once-in-a century asset aggregation play.
Potential backers were told Kilter, which is 61.49 per cent owned by Regal Partners, had sifted through geographies across NSW and Victoria to zero in on the Riverina, where succession needs among big family-landlords had made big parcels of land available for good discounts. On the water front, the area has decent rainfall, groundwater and surface water but would be able to buy water cheaply for drought periods, thanks to being upstream from the lower Murray, where
across its three previous funds. The Riverina assets are already up and running and due to be revalued at June 30, in two levers for expected immediate uplift.
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