U.S. Backs Private Bid for $125 Million for Rural Investment
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Alfalfa hay in Colorado. The Department of Agriculture plans to announce two new private investment funds on Wednesday. CreditMatthew Staver for The New York Times
Tom Vilsack, the secretary of agriculture, has traveled to New York and San Francisco, knocking on the doors of some of the country’s biggest investors, including BlackRock, Blackstone and GE Capital.
His pitch: Invest in rural America.
On Wednesday, Mr. Vilsack will announce his agency’s latest push to make that pitch more compelling. The United States Department of Agriculture will support two private investment funds that will together raise $125 million to buy stakes in businesses across rural America.
The funds, called Rural Business Investment Companies, are part of a U.S.D.A. program aimed at attracting private equity investments in agriculture-related businesses…
U.S. Backs Private Bid for $125 Million for Rural Investment
