Latest News » Press Releases » 2009

Pharos Miro launch in GAIM Middle East

Thursday, November 12, 2009

The Pharos Miro Agricultural Fund is the Gulfs first agricultural investment fund and is focused on acquiring and managing agricultural land holdings in Eastern Europe and Eurasia.

The Fund management leverages their 12 years of experience in the regions to identify and negotiate land acuisition opportunities with established parties. The Fund creates capital returns for investors through acquiring agricultural land, supporting infrastructure assets and distressed operational farm holdings.

The Pharos Miro Agricultural Fund, with a minimum subscription of $6m, is being offered to family offices, private equity groups and other investors across the region. Pharos hopes the fund will achieve returns of about 25 per cent over five years.

Objectives are to prioritize investments into land acquisitions in agricultural territories which achieve optimal capital growth; utilize contract farming partners to implement best practice arable farming operations on assets acquired; develop and enhance supporting infrastructure to improve values and associated yields.

Chief Executive of Miro Asset Management Limited and Peter Halloran, CEO of Pharos Financial Group will be presenting the fund at the launch. 

Mr. Barnes has an in-depth background in agriculture, horticulture, land-use change and environmental industries in Africa, Europe and South America. Mr. Halloran has an impressive capital markets background and a track record of fund raising.