Firm continues to be industry leader in "portfolio optimization"
BIRMINGHAM, Ala. and CALGARY, Alberta and MONTREAL, Nov. 21, 2019 /CNW/ -- Kirchner Asset Management Inc., the division of Kirchner Group that specializes in the management of high-potential mid-life venture capital and private equity funds through the balance of their terms, has been appointed General Partner of New Acres Capital Ag & Food Limited Partnership ("the New Acres Fund").
The New Acres Fund is a leading agriculture and food-focused venture capital fund with over $90 million of invested capital. Its investments are located across Canada and the U.S., ranging from health-oriented challenger brands to advanced production and ingredient developers to innovative farm-centric software companies. Consistent with the broader Kirchner Group platform, the Fund's companies are addressing the global challenges of nutritional deficiencies, food security, and environmental sustainability.
The Fund's investors are a group of thought-leading institutions, including Farm Credit Canada, HarbourVest Partners, Business Development Bank of Canada, FondAction and other Canadian institutional investors.
"The New Acres Fund is representative of the role Canadian institutional capital can take in extending the country's strengths in food and agriculture to the world stage. Kirchner Group's track record is exceptional and we are pleased to work with the Kirchner team to support the fund's success," stated Rebbecca Clarke, Vice-President & Treasurer Farm Credit Canada.
Kirchner Group was selected to manage the Fund in part because of its deep experience in managing funds in transition (13 funds to date representing over 150 companies around the world) and it's almost 4 decades of experience as an advisor and asset manager in food, agriculture, and technology-based investments.
"BDC Capital is pleased to be working with the New Acres Fund in supporting the growth of innovation-focused agri-food companies in Canada. We look forward to working with the experts at Kirchner Group to build the fund's success and the country's vibrant agri-food ecosystem which will help strengthen the country's reputation as an international agri-food leader," commented Alison Nankivell, Vice President, Fund Investments, BDC Capital.
With this mandate, Kirchner Group further solidifies its reputation as the leading solution provider for investors in venture capital and private equity funds – one of several value creation initiatives developed over the firm's almost four decades.
"HarbourVest Partners is happy to be working with the New Acres Fund to support companies working to address global challenges related to nutrition, food security, and sustainability. We are excited to again partner with Kirchner Group, with their decades of experience in the food and agriculture sector, and extensive record managing funds in transition," added Senia Rapisarda, Managing Director, HarbourVest Partners.
Kirchner Asset Management
Kirchner Asset Management Inc. provides customized services related to the management of venture capital and private equity portfolios including those in transition. The unique value proposition of this group is the ability to provide highly experienced asset managers combined with the ability to draw on the resources of the broader platform of domain and process experts. This results in a cost-effective approach in delivering lasting benefits that has been honed over four decades for institutional clients around the world. With this group, LPs benefit from a successor GP capable of assuming fund management responsibilities seamlessly and successfully through to the end of the fund's term.
Contact: Tim Lee| Managing Partner| +1 647.201.7847| [email protected]
Kirchner Group pioneered the portfolio optimization program over a decade ago to help traditional and impact investors and their LP's enhance value creation and bring necessary resources to ensure investment success. The initiative works to help limited partners and limited partner advisory committees to realign interests and help their fund managers optimize returns through the return-of-capital phase of fund lives. To date the program has worked with 13 funds and over 150 portfolio companies in capacities such as an advisor – co-GP – replacement GP.
Contact: Mike Fisher| Managing Director | +1 203.912.6164| [email protected]
Kirchner Group was founded in 1985 as a boutique advisory firm and today operates various subsidiaries, providing advisory services (M&A, assessments, diligence) and operational support (interim management, workouts, turnarounds) as well as asset management (dedicated, portfolio optimization) – all leveraging a proprietary approach that dovetails domain and process expertise.
Throughout the decades Kirchner Group has been internationally recognized for its unique business model centered around creating value while promoting values: "earning while returning". The firm has also established a reputation for building and rebuilding important business and social paradigms based on its deep entrepreneurial orientation.
Kirchner Group's clients and partners include early stage to mid-market companies, venture capital and private equity firms as well as family offices and some of the world's largest insurance companies, commercial banks and institutional investors. www.kirchnergroup.com
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Blair Kirchner | Managing Director & Co-Head of Impact Activities | +1 902.817.2405 | [email protected]
SOURCE Kirchner Group