Solum Partners Launched by Former Harvard Management Company Executives
Posted on 10/08/2020
Boston-based Solum Partners LP was incorporated in September 2019. Solum Partners is a spin out of the natural resources team of Harvard Management Company (HMC). Solum Partners is an investment management firm focused on real assets in the agriculture and food production industry. Solum Partners will invest in global agriculture and food opportunities, targeting efficient, large scale agricultural production assets with potential for vertical integration in areas such as distribution and marketing. The firm will be led by former HMC Managing Director and Head of Natural Resources, Colin Butterfield, who now serves as CEO at Solum. Its team includes more than 25 professionals, with substantial experience in the food and agriculture and investment management industries. Harvard University will be a limited partner of Solum Partners.
The announcement coincides with Solum’s acquisition, backed by affiliates of HMC and American International Group, Inc. (AIG), of select investments that the team managed or made while at HMC. These include avocado, olive oil, apple, blueberry, and soybean production assets as well as stakes in Westfalia, a global avocado distribution company, and California Olive Ranch, a U.S. extra virgin olive oil company.
AIG and HMC are expected to commit US$ 200 million each as anchor investors in a Solum investment vehicle.
Harvard Management Company is on path of selling off its natural resources portfolio. HMC wrote down its natural resources portfolio by more than US$ 1 billion in 2016. In 2020, Harvard Management Company sold two other Hillston cotton and almond farms, Wyadra and Cowl Cowl, to Hancock Agricultural Investment Group.
Keywords: Harvard University