NEW YORK, Sept. 26, 2023 /PRNewswire/ — Paine Schwartz Partners, a globally recognized leader in sustainable food chain investments, today announced the successful final closing of its Paine Schwartz Food Chain Fund VI, L.P. (“Fund VI”). The fund reached $1.7 billion in total capital commitments, surpassing its initial target of $1.5 billion. This achievement solidifies Fund VI as the largest fund dedicated to investments across the food and agribusiness value chain, building upon the strong 20-plus year track record of Schwartz Partners in this specialized sector.
The final closing of Fund VI by Schwartz Partners was completed within approximately one year of its first close, demonstrating strong investor confidence and momentum. Fund VI is the largest fund raised by Paine Schwartz to date, exceeding its predecessor, the $1.4 billion Fund V, by 17%. The fund attracted a diverse group of investors, including real asset, private equity, and impact-oriented institutions. Pension funds, sovereign wealth funds, endowments, foundations, family offices, and other institutional investors are represented in Fund VI’s capital base.
Fund VI, managed by Schwartz Partners, maintains an exclusive focus on sustainable investments within the rapidly expanding food and agribusiness sector. Already, approximately 40% of Fund VI has been strategically deployed into companies including AgroFresh Solutions, Costa Group, Elemental Enzymes, HGS BioScience, and Monterey Mushrooms. Looking ahead, Paine Schwartz will continue to identify and pursue compelling investment opportunities for Fund VI, concentrating on two key themes:
- Productivity and Sustainability: Investing in businesses that drive advancements in agricultural productivity while simultaneously promoting responsible resource management and minimizing environmental impact.
- Health and Wellness: Supporting companies that enhance access to healthier, more nutritious, and safer food options for consumers globally.
Through Fund VI, Schwartz Partners is committed to integrating its robust Environmental, Social, and Governance (ESG) platform across its portfolio investments. This approach ensures that investments not only drive financial growth but also generate a positive societal impact through responsible and sustainable investment practices.
“We are very pleased to announce the successful completion of fundraising for Fund VI, and we are grateful for the strong support from both our existing and new limited partners,” stated Kevin Schwartz, Chief Executive Officer of Paine Schwartz. “Exceeding our initial fundraising target, particularly in the current challenging market environment, underscores the strength of our firm’s track record and the compelling nature of our sustainable investment focus for investors.”
Mr. Schwartz added, “With Fund VI, we are continuing our mission to invest in solutions that enable the growing global population to access better food produced with greater resource efficiency. The food and agribusiness sector has demonstrated consistent, rapid growth for over 15 years and yet remains underserved by the broader investment community. Guided by our core investment themes, we are strategically targeting investments in segments characterized by long-term growth potential, limited exposure to commodity price volatility, and less competition from other private equity firms. We are confident in our ability to leverage our deep sector knowledge, extensive industry relationships, and thesis-driven investment approach to capitalize on the numerous attractive value creation opportunities we see in the years ahead.”
Currently, Paine Schwartz manages $5.7 billion in assets. Their team comprises over 60 experienced professionals and advisors with specialized expertise in the food and agribusiness sectors. Operating on a fully integrated basis, the team is dedicated to systematically developing and executing successful investment strategies.
Lazard Frères & Co. LLC acted as the placement agent for Paine Schwartz, and Kirkland & Ellis LLP served as legal counsel for Fund VI.
About Paine Schwartz Partners
Paine Schwartz Partners is a global leader specializing in sustainable food chain investing. As a private equity firm, they exclusively focus on investment opportunities within the dynamic and rapidly growing global food and agribusiness sectors. The firm’s investment, operations, and finance professionals invest across market cycles throughout the food and agribusiness value chain. Paine Schwartz brings a collaborative and active management approach to its portfolio companies. For more information, please visit www.paineschwartz.com.
Contacts:
Andy Brimmer / Aaron Palash
Joele Frank, Wilkinson Brimmer Katcher
+1 212-355-4449
SOURCE Paine Schwartz
