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Fund 07 · Active

Water-Secured Farmland

Water security is the durable, cross-region alpha in North American farmland. Fund 07 is not organized by geography or by crop — it is organized by water certainty. Parcels enter the fund only if their water rights, allocation status, or storage infrastructure supports a defensible thesis of durable water access over a multi-decade hold, regardless of what state they sit in or what crop they grow.

$13.500B
Fund Size
2026
Vintage
Fee-Simple
Ownership
Market Backdrop

Why this strategy, why now.

Every regional farmland fund embeds a water-security assumption; Fund 07 makes that assumption the primary underwriting variable. That inverts the usual sequence — instead of picking a region, then a crop, then diligencing the water, the fund starts with the water and builds a cross-region portfolio around it.

Strategy

How we underwrite this fund.

  • Every acquisition must document a durable water thesis before soil, crop, or geography are considered.
  • The fund holds acreage across the Corn Belt (rainfed water security), the Columbia Basin (senior appropriative), the Mississippi Delta (surface + on-farm storage), and selective SGMA-secure California parcels.
  • Water infrastructure — reservoirs, banking accounts, senior rights — is inventoried at the fund level, not just at the parcel level.
  • The fund does not participate in Ogallala-marginal acreage regardless of current yield.
Geography

Where the acreage sits.

Cross-region. No single-region concentration exceeds a documented ceiling. Sub-basin and priority-date diligence overrides state boundaries.

Operating Approach

What we do after the acquisition.

Regional asset managers coordinate operator relationships within each geography, but water-security scoring and portfolio composition are managed centrally. Water rights and allocation records are reviewed annually across the entire fund holding.

Risk Considerations

What we watch, and what we don't hedge.

Because the fund is diversified across regions, single-region weather, regulatory, and commodity risks are muted. The primary residual risk is federal or interstate water-compact policy change — an inherently non-diversifiable risk that the fund manages through its geographic spread rather than by hedging.

Fund Terms

Structural notes.

Vehicle
Delaware Limited Partnership
Vintage
2026
Target Fund Size
$13.500B
Term
Long-hold — see PPM
Ownership
Fee-simple
Minimum Commitment
Institutional — see PPM

Fund terms shown are structural summaries only. Prospective limited partners should refer to the Private Placement Memorandum, Limited Partnership Agreement, and Subscription Documents for complete terms, fees, and risk disclosures.

Request the Fund 07 data room.

Qualified institutional and accredited investors may request access to the PPM, LPA, and quarterly reporting materials.

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