Matthieu Favas
Matthieu Favas is the editor of Agri Investor. He was previously the web editor of Infrastructure Investor, where he started in 2013 after a year as a reporter at Private Equity International. Prior to joining PEI he spent four years in the wine industry in London, Spain and Mongolia.
Stafford’s successful takeover of a $259m timber fund suggests most investors value a guaranteed exit today more than higher promised gains tomorrow.
The secondaries firm expects to receive more acceptances of its hostile bid for the $259m timber vehicle after a majority of shareholders approved it last week.
The secondaries firm is aiming to convince more than half of the timber fund’s shareholders by Saturday – a task likely made easier by the withdrawal of a rival bid last week.
The firm is acting as a source of equity for new agriculture and food funds, in addition to trading fund stakes.
Stafford Capital Partners has lodged a $244m hostile bid for a timber fund it used to manage, but the fund is holding out.
Secondaries firm Stafford has put forward a hostile bid for Phaunos Timber, a global vehicle it used to manage.
Sister publication Agri Investor speaks to Stephen Addicott, a timberland partner at Stafford Capital Partners, about the dynamics of secondaries in the asset classes.
Sister publication Agri Investor spoke to Stafford Capital Partners' Bernd Schanzenbaecher to find out more about the firm’s agriculture strategy days after it made its first investment in the asset class.
The €700m deal involves 48 European and UK assets in a GP-led process run by Campbell Lutyens.
The investment manager wants to sell the €1bn vehicle before the end of the year and a new structure will be created to manage the portfolio.