TPC II Advances Regenerative Agriculture Strategy with the Acquisition of La Herradura

Astarte Capital Partners and Toesca Asset Management are pleased to announce the acquisition of La Herradura, a high-quality permanent crops asset in the O'Higgins Region of Chile, marking another important milestone in the continued deployment of capital by Toesca Permanent Crops Fund II (TPC II).

Completed in April 2026, the acquisition further advances the Fund's strategy of building a diversified portfolio of institutional-quality permanent crop assets across the Andean region, combining attractive long-term investment opportunities with regenerative agricultural practices and measurable sustainability outcomes.

La Herradura comprises 236.7 net hectares planted with Hass avocados, D'Agen prunes and Lane Late/Fukumoto oranges, and is operated by San José Farms under a controlled operating cost structure. The property benefits from guaranteed long-term access to Rapel River water through constituted water rights and established conveyance infrastructure, providing a strong foundation for resilient agricultural production. Its location within an established institutional farming cluster further reinforces the quality of both the asset and its operating environment.

The acquisition follows a comprehensive technical, environmental and commercial due diligence process covering water security, agroclimatic conditions, soils, topography, environmental compliance and permitting. This disciplined underwriting process is central to TPC II's investment approach, ensuring that each acquisition meets the Fund's rigorous technical, operational and sustainability standards.

La Herradura represents another step in executing TPC II's vision of developing one of South America's leading regenerative agriculture platforms. The Fund is targeting a US$350 million portfolio across approximately 7,000 hectares of avocados, citrus and hazelnuts, primarily in Chile, with selective expansion into Peru.

As climate change, water scarcity and shifting production patterns continue to reshape global food systems, the Andean region are becoming increasingly important for sustainable permanent crops. Chile's unique combination of favourable agroclimatic conditions, reliable water resources, established export infrastructure and strong institutional framework positions it as one of the world's most attractive regions for lo

ng-term agricultural investment.

The acquisition of La Herradura reflects the continued execution of TPC II's investment strategy and reinforces Astarte and Toesca's shared commitment to building an institutional-scale regenerative agriculture platform that delivers long-term value through responsible investment, operational excellence and sustainable food production.