Galtere has pledged to double assets under management through a push into private equity, further tapping into investor demand for commodities, under the leadership of a former top Deutsche Bank natural resources executive.

Galtere, which currently has $1bn assets under management, has launched an agribusiness strategy to make direct investments in industrial scale commodity production facilities in Brazil, Uruguay and Australia, a statement said. It is aiming to raise $1bn of assets from institutions, endowments and family offices.