Water-access rights, sand mines in Brazil and avocado farming are all on the table as sophisticated private investors hunt for yield.
The investment firm set up by Steve Diggle, formerly of hedge fund Artradis, plans to go live with the strategy as early as next month. Nova will trade intra-day, but not ultra-high-frequency.
A growing desire to build peer networks of like-minded investors is driving family offices in Asia to branch out geographically. And their Western counterparts are doing the same.
Wealthy Asians are increasingly looking to dispose of parts of their businesses via methods such as IPOs, and family offices are responding by building up corporate finance capabilities.
Banks cannot provide as wide a range of services as in the past, say family offices, which are having to broaden their range of counterparties as a result.
How do you hedge a farm? We get a few pointers from Vulpes Investment, currently putting together an agricultural product.