Deal: Corrs has assisted Laguna Bay on the establishment of a food and agriculture investment fund, Laguna Bay Fund 2 (which has been set to raise up to $1 billion), as well as in the cornerstone $350 million commitment by Washington State Investment Board.

Area: Private equity

Value: N/A

Key players: The Corrs team was led by partner Fadi Khoury, who was supported by special counsel Jaclyn Riley-Smith and senior associate William Lehane. Experts from the Financial Sponsors Group also provided assistance.

Deal significance: Speaking about the matter, Mr Khoury said: “We recognise the potential of this fund, given opportunities arising from the projected growth in world population and need to increase food and agricultural production.

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“As markets shift, this is a prime example of our work advising investors and fund managers on defensive asset investment strategies being deployed in a deepening inflationary environment.”

Laguna Bay founder and managing director Tim McGavin added: “We are excited about Laguna Bay Fund 2 which builds on our reputation as one of Australia’s leading food and agricultural investors. We are also an early adopter of the Principles of Responsible Investing, sustainable farm management and carbon assessment. We are among the leading pack in measurable emissions reductions with two of our firm’s farming enterprises being ISO accredited as carbon neutral.”