AAM Investment Group on a farm buying spree after capital raising

AAM Investment Group’s capital raising was so successful it now has more money to buy further farms without going to investors.

Garry Edwards says AAMIG’s capital raising for its Diversified Agricultural Fund was so successful the investment group is now looking for more farms.

AAM Investment Group has cash to splash on farms and rural infrastructure after a successful $60 million capital raising late last year.

AAMIG founder and managing director Garry Edwards said the group had raised more than $60 million for the chicken, beef and dairy farms it had earmarked to buy and pitched to investors under its diversified agriculture fund.

“The capital raise was extremely successful,” Mr Edwards said.

“We had 26 per cent of capital from new investors. We were positively surprised with the large number of new investors who hopped on board.”

Mr Edwards said the agriculture portfolio provided uniqueness of stabilised returns over the mid to long term.

“Investors are seeking yields that they can’t get off the stockmarket,” he said.

“A lot of money is coming from people taking funds out of listed investments and putting them in unlisted investments.”

Mr Edwards said the group had now acquired all the assets it had proposed under the capital-raising proposal, including four poultry farms at Murray Bridge in South Australia and three livestock and broadacre cropping properties near Forbes in NSW called the Sunshine Aggregation.

“We have got more than $60 million,” he said. “That’s enabled us to have enough additional capacity to look at other assets.

“We are now looking for additional properties without having to go to another capital raising. We are open to a diverse range: mixed grazing and cropping, poultry dairy and infrastructure projects.”

Meanwhile, Moralana Station near Hawker in South Australia has sold for a reported $6.4 million.

The property, which has a backdrop of the Flinders Ranges, was reportedly purchased by graziers the Michael family.

Moralana Station is a grazing operation covers more than 62,000ha and was sold on a walk-in walkout basis with about 388 Angus and Hereford cattle and 3900 Merinos.