Fidante Partners, a Sydney-based subsidiary of Australian investment management firm Challenger, made a minority investment into Singapore-based Proterra Investment Partners Asia, a private equity firm focused on Asian food and agriculture businesses, according to a statement Monday.
Fidante, a multiaffiliate funds manager, previously had a distribution agreement that connected Proterra Asia to investors in the U.K. and Europe. With the new investment, Fidante will expand its distribution support for Proterra Asia to Australia, Japan and other regions, the statement said.
A spokesman declined to provide details about the size of the stake or its purchase price.
Fidante also has committed capital to Proterra Asia over the past few years. Most recently, it committed an undisclosed amount to the Proterra Asia Food Fund 3, which closed in October at $200 million from institutional investors, international and regional foundations, and family offices primarily from Asia and Europe.
Fidante, which had $72.4 billion in assets under management as of Dec. 31.
Proterra Asia is the Asian arm of Proterra Investment Partners, an alternative investment manager dedicated to investing in global food and agriculture companies. Proterra Asia has invested $1 billion in more than 30 companies across Asia over the past 10 years.
These investments include deals with biofuel company Apeiron Bioenergy in October, Singapore oat milk firm Oatside, and Chinese yogurt brand Simple Love in 2021.
