Farmland and Water Assets in an Institutional Portfolio

Please note that this session was recorded live at the 2025 Trustee School, and some audio may not have been captured during the recording.
 
Session Summary: This session will provide an overview of the rationale fundamentals of investing in U.S. farmland, along with insights into global water scarcity, quality, and supply-demand trends, highlighting related investment opportunities in water supply, quality, and efficiency.
 
Presenters:
Nick Holmes, CFA
Portfolio Manager
Duff & Phelps Investment Management
 
David Martin
Managing Director
US Agriculture, LLC

Credits: This course is worth 1.0 GAPPT CEC (Continuing Education Credit). It also qualifies for 0.1 IACET CEU (Continuing Education Unit).
Instructions: Participants must watch the session video presentation and pass the session assessment to earn GAPPT CECs.
Prerequisites: None.
Equipment Requirement: Computer, tablet or smartphone and internet access. To avoid issues, please use Google Chrome as your browser.

Cost: Member Registration: $80.00 / Non-Member Registration: $120.00
 

Instructors

David Martin

David Martin is the Managing Director of US Agriculture, LLC, where he oversees all strategic and operational aspects of the firm. He also serves as a member of its Board of Managers and as Chairman of the Investment Committee. In this role, he leads the company’s farmland investments and growth strategy, leveraging his extensive expertise in agricultural management and institutional investing. With over 25 years of experience in production agriculture and agribusinesses, David has executed agriculture transactions collectively valued at more than $2 billion. His broad experience includes farmland acquisitions, operational management, and investment structuring, establishing him as a leader in the agricultural sector. Before joining US Agriculture, David served as Vice President at Halderman Real Asset Management, where he managed the institutional farmland investment program and oversaw select separate accounts, ensuring optimal performance and providing tailored strategies to clients. Prior to that, he was the Special Accounts Manager at Halderman Farm Management Service, where he coordinated the management of multiple farmland funds. David holds a Bachelor of Arts in Agricultural Economics from Purdue University and is a member of the American Society of Farm Managers and Rural Appraisers, as well as the Pension Real Estate Association. Raised on a livestock and grain farm in central Indiana, David remains actively involved in family-related agriculture investments, maintaining a strong connection to his farming roots.

As a GAPPT presenter, David has received information regarding educational instructional methods and adult learning processes.

Nick Holmes, CFA

Nicholas Holmes is a portfolio manager and senior research analyst for the Duff & Phelps Water Strategy. He joined Duff & Phelps in 2023, began his investment career in 2010 and has been actively following the water sector since 2015. Previously, he was a portfolio manager at TortoiseEcofin, where he managed a sustainable global water strategy and was lead analyst on water-specific private placement transactions in the energy infrastructure sector. He holds a B.A. in political science from Yale University and an M.B.A. from the University of Kansas. In addition, he is a CFA charterholder.

As a GAPPT presenter, Nick has received information regarding educational instructional methods and adult learning processes.

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