Santander (BME:SAN) and Grupo Atitlan have announced the launch of Atgro SCR, a new investment vehicle focused on the agricultural sector, which has successfully raised €300 million in its initial funding round. This significant capital injection underscores the growing market interest in agricultural investments as a stable and lucrative alternative.
The Atgro SCR fund, which aims to reach a total of €500 million by the third quarter of 2025, will focus on strategic agricultural assets. The fund's current portfolio includes over 3,200 hectares of pistachio fields in Spain and an investment in Ecosac, Peru’s second-largest exporter of seedless table grapes, which boasts over 2,000 hectares of production and a 2,500-hectare land bank.
Managed by Santander Alternative Investments (SAI) and Atitlan’s agricultural division, Elaia, the fund has attracted both national and international private investors, with Santander and Atitlan acting as anchor investors. Santander contributed €200 million, while Atitlan added €50 million along with existing agricultural assets.
This initiative highlights the increasing trend of major investment funds focusing on sustainable and socially responsible investments. Atgro SCR is committed to adhering to ESG (environmental, social, and governance) criteria, reflecting the growing importance of sustainability in agricultural practices.
The success of Atgro SCR is expected to positively influence Banco Santander’s stock performance on the IBEX 35. Currently trading at €6.17, Santander’s shares have experienced recent volatility. However, the launch of this promising agricultural fund could bolster investor confidence in the medium to long term.
Atgro SCR has already committed €125 million of its funds and is in advanced talks with institutional investors to reach its €500 million target. This strategic move by Santander and Atitlan signifies a robust commitment to the agricultural sector, positioning it as a key player in the global agricultural investment landscape.
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