WisdomTree completes $275 million acquisition

WisdomTree Inc. (WT) completed its acquisition of Ceres Partners LLC, a U.S. farmland investment manager, for $275 million in cash plus potential earnout payments of up to $225 million by 2030, according to a company statement.

The transaction marks WisdomTree’s entry into private asset markets beyond its traditional exchange-traded products and managed models. Ceres Partners manages approximately $1.8 billion in assets and owns about 176,000 acres of farmland across 12 states through its flagship fund.

WisdomTree funded the upfront consideration through its recently completed convertible senior notes offering. The earnout payments are contingent upon Ceres achieving specified revenue growth targets.

“This acquisition provides investors with unique access to a resilient, inflation-protected asset class, while bringing on Ceres’ farmland platform, which has delivered net annualized returns of over 10% since inception,” said Jonathan Steinberg, WisdomTree founder and CEO.