Carbon and Renewables Farmland Fund.

Carbon And Renewables Farmland Fund (CARFF) is an agricultural landholding trust that seeks to purchase 2-3 properties with traditional revenue (grazing leases, farmland growth) and add incremental income in the growth markets of:


  • Carbon farming e.g. creating carbon credits via vegetation regrowth, planted trees
  • Renewables e.g. long term lease fees to wind/solar/battery projects
  • Biodiversity offsets e.g. preserving eucalypt trees for koala/glider/marsupial offsets

Upscale Directors will act as foundation investors in CARFF.


CARFF aims to develop the properties and annuity streams with an exit within 5-6 years.

CARFF is good for investors and the environment:

  • Returns: target 22%* p.a. ROIC, 15%* IRR
  • Distributions: target 2%* p.a. from year 3 or when carbon or renewable income begins
  • Multiple income sources seeking reduced risk, improving returns & value
  • Historical Australian farmland growth of 8.4%^ p.a. over last 20 years
  • Diversified alternate investment in real property, relatively uncorrelated to financial markets, residential/commercial/industrial real estate
  • Significant barriers to entry with complex regulation, few competitors
  • Managers with successful track record, valuable IP, foundation investors
  • Strong ESG (Environment, Social, Governance) credentials
  • An opportunity to help the environment and reduce emissions
* This is a target, not a forecast. No returns are guaranteed
^ Past performance of other funds is no guarantee of the performance of CARFF
# Indicative dates only: Trustee may change dates to suit the Fund

Investment Opportunities

More specific information, including a copy of the Carbon and Renewables Farmland

Funds information memorandum, can be found here.

To register your interest in this new fund, please contact us via the button below.