Private Debt Fund with a Unique Value
Leghorn Investments LLC (the “Company”) finances poultry farm operations throughout the United States. Each farm is sourced from, and fully underwritten by, Live Oak Bank’s Agriculture Vertical. Live Oak finances the majority of each farm project by taking a senior position, and Leghorn Investments finances the remainder with subordinated debt.
An investment in Leghorn is a unique fixed-income investment in a well-diversified fund made up of various poultry farms throughout the country. All farms in the fund are financed by Live Oak Bank, Leghorn Investments, and the individual farmer’s equity. Live Oak is one of the top poultry lenders in the country. Additionally, each farmer has a contract with one of the large poultry companies, further strengthening each deal. The poultry industry is extremely vertically integrated which assists in minimizing individual farm-specific risk.
Leghorn Investments provides a stable cash-flowing opportunity in a steadily growing industry, which might otherwise prove challenging to participate in for the average investor. Poultry is a recession-resistant industry with constant demand as Americans have consumed poultry more than any other meat annually since 1992.
The Leghorn Investments fund began deploying subordinate debt for completed poultry farms in June of 2021 and has approved approximately $15MM worth of farm opportunities so far.
Leghorn Farm Spotlight
We are pleased to share that a farmer in the Leghorn Portfolio has been awarded the Young Farmers and Ranchers Achievement award for 2021. The YF&R Achievement Award recognizes young farmers and ranchers in Arkansas who have excelled in their farming and ranching operations and exhibited outstanding leadership abilities.
James and Ashton Dixon were one of the first farms in the Leghorn portfolio. Live Oak Bank and Leghorn helped the couple finance six broiler houses on 44 acres, where they expect to grow 5.7 million pounds of chicken per year.
Leghorn Farm Statistics
Each farm opportunity is sourced from, and fully underwritten by, Live Oak Bank’s Poultry Vertical. Live Oak finances 85% of each farm with a conventional loan taking a senior position, and Leghorn Investments funds the remaining 15% with subordinated debt.
About Tidewater Investment Company
Tidewater Investment Company is a private investment firm targeted to high net worth individuals and family offices. Our firm offers unique access to an array of investment opportunities along the risk-reward spectrum. We feature a team of experienced private company investors as well as a network of successful business professionals.
For investors, Tidewater provides unique access to private company investments for high net worth individuals, family offices and small institutional investors. Tidewater is not a typical fund. We prospect and select participants to invest on a deal-by-deal basis, without any commitment to membership or ongoing obligation. Our team is committed to this investor-friendly, non-fund model that offers the utmost in flexibility for our participants.
About the Live Oak Bank Agriculture Vertical
Headquartered in Wilmington, NC, Live Oak Bank specializes in providing various commercial banking products to individuals, small businesses, and professionals throughout the United States. As one of the nation’s top originators of small business loans, Live Oak takes an unconventional approach to banking by specializing in niche verticals led by in-house industry experts. Agriculture lending, specifically poultry farm financing, was one of Live Oak’s first additions to its portfolio.
The Live Oak Bank Poultry farm portfolio has closed $1.57 Billion in loans since 2014. Currently there are 460 loans in the portfolio (totaling $799 Million). The farms are consistently above per flock revenue targets due to the expertise and management Live Oak’s Agriculture team provides.
For More Information
If you have any questions or interest in receiving more information about Leghorn Investments please fill out the contact form below and a member of our team will be in touch.
This presentation contains forward looking statements. These statements are based on certain assumptions about future events or conditions and involve a number of risks and uncertainties. These statements are not guarantees of future performance, condition or results. Actual results may differ materially from those in the forward looking statements. Potential investors should not place undue reliance on these forward looking statements, which speak only as of the date of this presentation. The Company undertakes no obligation to update any forward looking statements made herein.