Flashcards in WAM Interview Deck (4)
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1
Q
What do you know about our firm?
A
- Asset management firm focused on the water sector with ~$600m in AUM
- Started in 2005 with 2 other people (skiing buddies/friends from college), started with $3m in capital, and shared office space with Hasidic divorce lawyers
- 4 funds involved in water related equities and physical assets/water rights
2
Q
What type of physical assets do we invest in? How doe we generate returns on those physical assets?
A
- Largely farmland and its associated water rights
- Sell/lease the water rights
- Operate the farm to generate crop yield to cover costs
3
Q
What deals of ours have you followed?
A
Your purchase of Winnemucca Farms in Nevada and its associated water rights
- $10.5m deal
- 11,400 acres of land
4
Q
What’s another recent water deal?
A
Harvard Endowment’s purchase of California vineyards and the associated water rights.
- Initially valued at ~$100m and now valued at over ~$300m
