TCA counsels on creation of agricultural Closed-Ended Mutual Fund

Tanoira Cassagne Abogados has counselled Allaria Ledesma Fondos Administrados Sociedad Gerente de Fondos Comunes de Inversión, Banco Comafi and Adblick Granos, in the creation of the Closed-end Mutual Fund “Adblick Granos Plus Fondo Común De Inversión Cerrado Agropecuario”.

The Fund was approved by the National Securities Commission by resolution dated August 17, 2022, for a nominal value from $3,000,000 to $100,000,000 dollars and will have a duration of 6 years as from the Date of Issue and Integration of the shares corresponding to the first subscription tranche.

The objective of the Fund is to provide a return to the unit holders by investing in: Equity rights represented or not by securities, with or without public offering of companies and/or vehicles, which may qualify as Pymes CNV in accordance with the provisions of the NORM (N.T. 2013 and mod. ), engaged in agricultural business, including those in which ADBlick Granos and its controlling and controlled companies are parties; and Negotiable Obligations with or without public offering, secured or unsecured, issued by companies, which may qualify as CNV SMEs in accordance with the provisions of the NORMs (N.T. 2013 and mod.), engaged in agricultural business, including ADBlick Granos and its controlling and controlled companies.

Likewise, the Fund provides for a single class of condominium units, where each unit has the right to one vote, to participate in the distribution of profits that may be decided by the Administrator as provided in the Regulations and to participate in the remainder that may exist at the time of liquidation of the Fund.

Allaria Ledesma Fondos Administrados Sociedad Gerente de Fondos Comunes de Inversión acted as managing company, Banco Comafi acted as depositary company and Adblick Granos acted as investment advisor.

The Fund’s shares have been authorised for listing on Bolsas y Mercados Argentinos.

TCA’s team included partner Alexia Rosenthal (pictured) and associates Ignacio Nantes and Mariana Troncoso.