Bonnefield Financial Inc. (Bonnefield), a leading farmland investment management firm, today announced the first close of Bonnefield Canadian Farmland LP V (LP V) with $137 million (CAD) of commitments. LP V is an open-ended fund targeted at institutional and accredited investors. Bonnefield anticipates the next close of LP V in early 2020.

This new fund comes as Bonnefield sees more institutional investors seeking open-ended structures in their real asset portfolios. “The open-ended structure offers important liquidity characteristics that suit a broad range of institutions across Canada,” said Andrea Gruza, VP of Capital Markets at Bonnefield. “Many of these investors are interested in gaining exposure to the attractive attributes of Canadian farmland, such as its ability to hedge against inflation and its low correlation with stocks, bonds, and traditional real estate.”

LP V invests in a diversified portfolio of core farmland across Canada and Bonnefield has already identified a number of attractive farmland acquisitions across Canada for the Fund.