La Caisse Backs GO.FARM in Australia, Acquires UK's Optio Along With Cinven
Canadian institutional investor La Caisse has partnered with Australian agricultural investment manager GO. FARM to launch a $330 million investment platform targeting permanent horticulture assets, underscoring growing institutional demand for Australian farmland.
The partnership will see La Caisse commit $300 million in equity alongside a further $30 million investment from GO. FARM, while also taking a minority stake in the Melbourne-based manager.
La Caisse executive vice president and head of infrastructure and sustainability Emmanuel Jaclot said Australia remained an attractive destination for long-term agricultural investment.
"Australia combines world class agricultural resources, strong export markers and significant land transformation opportunities," Jaclot said.
"Through this partnership with GO. FARM, we are backing a proven operator with deep local expertise and a strong commitment to responsible agriculture. Together, we aim to build a diversified platform positioned to capture attractive opportunities across a sector that is becoming increasingly important to global food production."
Founded in 2013, GO.FARM manages approximately $1.6 billion in assets and specialises in developing underutilised land and water assets into institutional-grade permanent horticulture operations.
Founder and managing director Liam Lenghan said the partnership reflected increasing global appetite for agriculture as an institutional asset class.
"Our focus has always been on finding the opportunity, solving the challenges and executing the fundamentals well by building great teams and capability, back by data-driven insights and good science," Lenaghan said.
"This partnership is built on alignment, not just capital. As global institutions seek exposure to agriculture, access to investment-grade assets remains constrained."
The investment builds on La Caisse's growing sustainable land management presence in Australia and GO. FARM's existing institutional investor base, which includes Australian Retirement Trust, and comes as global investors increasingly allocate capital to food production, natural capital and climate resilient real assets.
Last week, La Caisse issued a press release stating it has partnered with GO.FARM to launch AUD 330 million platform to invest in Australian permanent crops:
Global investment group La Caisse (formerly CDPQ) and Australian agricultural investment manager GO.FARM today announced a new strategic partnership to invest in high-value permanent horticulture in Australia.
Under the partnership, La Caisse will commit AUD 300 million in equity through a platform managed by GO.FARM, alongside an additional AUD 30 million commitment from its partner, for an initial total equity commitment of AUD 330 million. La Caisse will also become a minority shareholder in GO.FARM, reinforcing the long-term alignment between the two organizations.
Founded in 2013 by Liam Lenaghan, GO.FARM manages approximately AUD 1.6 billion in assets with a focus on transforming underutilised land and water assets into high-performing, investment-grade agricultural operations, particularly in large-scale permanent horticulture, with a focus on water efficiency, climate-smart systems and critical infrastructure.
La Caisse selected GO.FARM for its approach to responsible agriculture, operational capabilities and ability to originate, develop and operate agricultural assets on the ground. The partnership will focus on building a diversified portfolio of Australian irrigated permanent crops, leveraging the country's distinctive long-term investment opportunity in agriculture and its significant land transformation potential.
Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure and Sustainability at La Caisse, said: “Australia combines world-class agricultural resources, strong export markets and significant land transformation opportunities. Through this partnership with GO.FARM, we are backing a proven operator with deep local expertise and a strong commitment to responsible agriculture. Together, we aim to build a diversified platform positioned to capture attractive opportunities across a sector that is becoming increasingly important to global food production.”
Liam Lenaghan, Founder and Managing Director of GO.FARM, said: “Our focus has always been on finding the opportunity, solving the challenges and executing the fundamentals well by building great teams and capability, backed by data-driven insights and good science. This partnership is built on alignment, not just capital. As global institutions seek exposure to agriculture, access to investment-grade assets remains constrained. This mandate reflects the growing maturity of Australian agriculture as an institutional asset class, and marks a positive moment for both GO.FARM and the sector.”
This partnership builds on La Caisse’s growing sustainable land management presence in Australia and on GO.FARM’s existing relationships with domestic institutional investors, including Australian Retirement Trust, alongside long-standing support from Australian family offices and high-net-worth investors. It also comes at a time when global institutions are increasing their focus on real assets linked to food production, natural capital and climate resilience. In this context, the partnership reflects a shared ambition to continue developing high-quality agricultural investment platforms in Australia over the long term.
ABOUT LA CAISSE
For more than 60 years, La Caisse has invested with a dual mandate: generate optimal long-term returns for its 48 depositors, who represent over six million Quebecers, while contributing to Québec’s economic development.
As a global investment group, La Caisse is active in major financial markets, private equity, infrastructure, real estate and private credit. As at December 31, 2025, its net assets totalled CAD 517 billion. Learn more at LaCaisse.com, LinkedIn and Instagram.
La Caisse is a registered trademark of Caisse de dépôt et placement du Québec that is protected in Canada and other jurisdictions and licensed for use by its subsidiaries.
ABOUT GO.FARM
GO.FARM is a leading Australian agricultural investment and development firm, having managed over 96,000 hectares of farmland and 129,000 megalitres of water across New South Wales, Victoria, and Tasmania, with approx. $1.6B of assets under management. The company focuses on transforming underutilised agricultural land into productive, sustainable, and high-value assets. GO.FARM is committed to delivering strong financial returns for its investors, while enhancing the social and environmental fabric of its regional communities.
This is an excellent partnership for La Caisse in Australia to develop a platform focused on investing in high-value permanent horticulture in Australia.
GO.FARM is a leading Australian agricultural investment and development firm and this partnership will allow La Caisse to bolster its presence in Australia's burgeoning farmland industry.
You can read their story here to understand more about them:
We identify underutilised and undercapitalised Australian agricultural assets and transform them to highest and best use. Our expertise lies in landuse change, asset reconfiguration and investment in people, technology, productivity and sustainability. We have successfully executed strategies across greenfield developments, brownfield reversions, rainfed and irrigated farming systems, annual crops and permanent plantings across multiple geographies.
As stated above, the investment builds on La Caisse's growing sustainable land management presence in Australia and GO. FARM's existing institutional investor base, which includes Australian Retirement Trust, and comes as global investors increasingly allocate capital to food production, natural capital and climate resilient real assets.
Sustainable land management is a big part of La Caisse's sustainable investing approach.
Recall, last year, La Caisse invested US$200 million in QIC-backed Renewa to accelerate funding of land under clean energy infrastructure (see details here).
With this deal, the focus shifts to Australia where opportunities for investing in agricultural land are plentiful if you partner up with the right group.
GO.Farms specializes in transforming underutilized agricultural land into productive, sustainable, and high-value assets.
With this deal, la Caisse joins PSP Investments which has a huge presence in Australia's agricultural lands (a massive portfolio constructed one farm at a time) and OTPP which recently acquired a controlling interest in Mitolo Family Farms and also has a big Australian agribusiness portfolio.
What is the attraction to Australia's farmland?
Emmanuel Jaclot, EVP and head of Infrastructure and Sustainability at La Caisse summed it up well: "Australia combines world-class agricultural resources, strong export markets and significant land transformation opportunities."
Real assets like timberland and farmland offer unique cash flows that are inflation-hedged and are not as highly correlated to real estate and infrastructure.
That, in a nutshell, is why these assets are attractive to institutional investors.
In other related news, Investment Executive reports La Caisse and Cinven will acquire Optio Group:
Quebec investment manager La Caisse says it has partnered with international private equity firm Cinven to acquire U.K.-based Optio Group, a specialty insurance managing general agent platform.
Founded in 2018, Optio originates, underwrites and manages specialty risk on behalf of more than 60 third-party capacity providers.
Terms of the transaction were not disclosed.
Cinven and La Caisse say in a news release that they believe Optio represents a “compelling investment opportunity” based on several attractive characteristics.
Martin Longchamps, La Caisse’s executive vice-president and head of private equity and private credit, says Optio has a differentiated platform serving complex insurance markets, a strong European base and clear international growth potential.
The transaction is subject to regulatory approvals and other closing conditions.
Cinven and La Caisse issued a press release stating they will jointly acquire leading specialty MGA platform, Optio:
International private equity firm, Cinven, together with global investment group, La Caisse (formerly CDPQ), today announce that they have reached an agreement to acquire Optio Group (‘Optio’ or 'the Company'), a leading specialty insurance Managing General Agent (‘MGA’) platform headquartered in the UK. Financial details of the transaction are not disclosed.
Founded in 2018 and headquartered in London, Optio originates, underwrites and manages specialty risk on behalf of more than 60 third-party capacity providers. The business underwrites a highly diversified portfolio of specialty risks across six business lines – Profession & Specialty, Transportation, Property & Energy, Healthcare, Transactional Liability, and Surety & Credit – spanning more than 30 products. The company has an established European core with an international footprint, comprising 18 offices across 15 countries spanning the UK, Europe, the US, the Middle East and Asia. A key point of differentiation for Optio is its strong track record of attracting and retaining high-calibre underwriting talent, which in turn drives its leading underwriting performance.
Cinven and La Caisse each have deep experience in the Specialty underwriting sub-sector and have both been tracking Optio for a long time. The Cinven team has known the company's management team for more than two years and, together with La Caisse, has built a strong relationship with management. Cinven and La Caisse believe Optio represents a compelling investment opportunity based on several attractive characteristics:
- Exposure to a structurally growing end-market: Specialty MGAs are expected to continue to outgrow the broader Property & Casualty insurance sector, supported by structural tailwinds including carriers' growing appetite for specialty risks and the continued migration of underwriting talent to MGA platforms like Optio;
- A high-quality, capital-light business model: Optio's portfolio of niche specialty risks is diversified by both product and geography and underpinned by a strong long-term track record of disciplined, low-loss-ratio underwriting;
- A proven track record of attracting and retaining leading underwriting talent: Optio’s underwriting capabilities combine deep sector expertise with a strong track record of high-quality execution, underpinning its position as an emerging leader in the sector as well as its long-tenured relationships across brokers and capacity provider networks;
- Significant opportunity for continued organic and inorganic growth: The business is well-positioned to accelerate its long-term growth trajectory through a combination of organic growth and by executing a pipeline of value accretive M&A opportunities in a highly fragmented market; and
- An exceptional management and leadership team led by CEO, Deepak Soni.
This transaction builds on the Cinven Funds’ extensive expertise and long track record of investing in the specialty underwriting and broader financial services sector, including investments in Compre, Miller and Policy Expert. For La Caisse, the investment reflects a longstanding global focus on insurance and insurance-related platforms, with experience across Europe, North America and Australia.
Luigi Sbrozzi, Partner and Co-Head of the Strategic Funds at Cinven said: “Optio is a marquee opportunity in the MGA space, a financial services sub-sector where Cinven has deep expertise and a strong track record. Deepak and the wider management team have built a leading and differentiated home for specialty underwriting talent, and we are excited to partner with them as they continue to scale the business both organically and through further M&A. We are also delighted to be partnering with La Caisse on this transaction and look forward to working together to support Optio's next phase of growth.”
Martin Longchamps, Executive Vice-President and Head of Private Equity and Private Credit at La Caisse, added: “Specialty insurance is a market where technical underwriting expertise, disciplined risk selection and scale increasingly matter. Optio is well positioned in that environment, with a differentiated platform serving complex insurance markets, a strong European base and clear international growth potential. Our investment reflects La Caisse’s conviction in the long-term fundamentals of the sector, our experience across the insurance value chain, and our focus on backing high-quality businesses alongside sophisticated, like-minded partners.”
Deepak Soni, CEO of Optio, commented: “We are delighted to welcome Cinven and La Caisse as our partners as we embark on the next chapter of the Optio story. Over the past few years, with the support of Preservation Capital Partners, we have successfully built a diversified global platform through investment in our teams and the acquisition of high-quality specialist MGAs. Throughout this period, we have remained focused on delivering strong underwriting results for our insurer partners and outstanding service to our brokers. We are confident that, together with our new shareholder group, we will continue to build on these foundations, pursuing our growth strategy and expanding our capabilities while preserving the entrepreneurial culture and specialist expertise that define our business.”
The transaction is subject to customary regulatory approvals and other customary closing conditions.
ABOUT CINVEN
Cinven is a leading international private equity firm focused on building world-class global and European companies. Its funds invest in six key sectors: Business Services, Consumer, Financial Services, Healthcare, Industrials and Technology, Media and Telecommunications (TMT). Cinven has offices in London, New York, Frankfurt, Paris, Milan, Madrid and Luxembourg.
Cinven takes a responsible approach towards its portfolio companies, their employees, suppliers, local communities, the environment and society.
In this press release ‘Cinven’ means, depending on the context, any of or collectively, Cinven Holdings Guernsey Limited, Cinven Partnership LLP, and their respective Associates (as defined in the Companies Act 2006) and/or funds managed or advised by any of the foregoing.
For additional information on Cinven please visit www.cinven.com and www.linkedin.com/company/cinven/.
This was a deal that Cinven brought to Martin Longchamps at la Caisse and his team rightly jumped at the opportunity to acquire Optio, co-investing alongside long-time partner Cinven.
If you read that press release carefully, no doubt about it, Cinven did its homework here, knows Optio's CEO Deepak Soni very well, and understands the company's MGA platform inside out.
I invite my readers to read more about the Optio Group here. They clearly have deep sector expertise:
Optio is a recognised leader in the specialist Managing General Agent (MGA) space, combining deep sector expertise with a progressive, technology-driven approach to underwriting. With a strong focus on niche and complex risks, Optio brings together a team of experienced professionals who deliver tailored solutions across a diverse portfolio, including professional indemnity, contingency, cyber, and more. Their agile structure, combined with robust data insight and underwriting discipline, enables them to respond quickly to market needs while maintaining strong capacity relationships. This positions Optio as a trusted partner for brokers seeking specialist coverage and consistent performance in a dynamic risk landscape.
Now it's up to Cinven and La Caisse to help Optio grow during its next growth phase.
Alright, two big deals to cover from La Caisse on Monday that you should all be aware of.
Below, discover how GO.FARM is revolutionizing Australian agriculture with innovative and sustainable farming practices. From increasing productivity to reducing environmental impact, GO.FARM is at the forefront of transforming the future of farming. Learn about their advanced technologies, sustainable land management strategies, and commitment to building a greener tomorrow.
When you partner up with the right people, extraordinary things can happen. This family seems very much in tune with sustainable farming and their love for it shines through below.
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