AIG Investments, the asset management arm of American International Group, said it has invested $65 million in Calyx Agro Ltd., which acquires, develops and sells agricultural land in Latin America, mostly in Brazil, and is sponsored by Louis Dreyfus Commodities.
AIG Investments and Louis Dreyfus Commodities said that Calyx Agro will use the investment to acquire land, improve its agricultural production yields, and then sell it at a higher price. The plan, the companies said, is to take advantage of the "growing agribusiness sector" in the region.
"We believe that productive farmland will continue to be in high demand, driven by the world's growing appetite for agricultural commodities and Latin America's competitive position in global trade," said Ana Vigon, managing director and head of Latin America Private Equity at AIG Investments.
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