BlackRock was set to launch on October 1 a fund aimed at exploiting developments in the agriculture industry. The fund was expected to begin trading with as much as $200 million.
The new vehicle will be run by portfolio managers who previously ran money for a natural resources investment platform set up by Merrill Lynch Investment Management. BlackRock acquired the team, which manages more than $30 billion in resources-related portfolios, when it snapped up Merrill Lynch Investment Management in September 2006.
London-based Graham Birch will serve as portfolio manager with Richard Davis acting as a supporting portfolio manager.