Invest in Ag | 24 February 2026

By Lynda Kiernan-Stone

San Francisco-based Homestead Capital USA (Homestead) and global investment manager Barings announced their shared closing on a $300 million asset-based finance program that will expand Homestead’s loan origination in key production regions while enhancing Baring’s access to investment opportunities in the agricultural credit market.

Launched in 2012 by co-founders and co-CEOs Gabe Santos and Dan Little, Homestead focuses on investing and operating farmland throughout the Mountain West, Delta, Midwest, and Pacific/Pacific West regions of the United States.

Since its founding, the firm has curated a team with a deep well of experience in agriculture, financing, farm management, farm acquisition, portfolio construction, and risk management to make investments in high-quality farmland and work with farmers to help improve capacity and profitability through tailored farm management, crop selection and rotation, and economies of scale.

With operations across much of the country, Homestead’s team manages more than $1.6 billion in equity and credit assets and its credit strategy provides capital solutions to borrowers ranging from small and mid-sized farmers to large, vertically integrated agribusinesses.

“We have been building our credit capability for years and want to be the gold standard for agriculture investing,” said Santos.

Through this forward-flow partnership with Barings, Homestead explained it will expand its loan portfolio and national footprint within the $624.7 billion U.S. agricultural credit market. New coverage will include the Delta, Midwest, Mountain West, Pacific, Pacific Northwest, Southeast, and Southwest, with anticipated lending to a mix of commodity markets including staple row crops, specialty row crops, and permanent plantings.

“Our partnership with Barings elevates our loan origination efforts and provides new opportunities for investors to participate in agriculture, an asset class that offers compelling risk-adjusted and uncorrelated returns in a variety of market environments,” said Little.

This venture with Barings also comes only a matter of months after Homestead announced the addition of Max Nightingale as managing director and head of strategic growth, with the responsibility for helping direct Homestead’s efforts to expand and enhance its reach.

With 20 years of experience with leading agriculture investment management teams across diversified farming and agribusiness operations, prior to Homestead, Nightingale was head of agriculture at Sixth Street, where he was responsible for investment and the management of a portfolio of farm and vertically integrated agribusiness investments.

“At Homestead, we see tremendous growth and opportunity across the U.S. agricultural sector and are thrilled to welcome Max to our team,” said Patrick Trainor, president, Homestead, in October 2025. “Max’s experience and industry insights will further strengthen the firm and deepen our collective expertise.”

For Barings, this collaboration is part of the Barings’ Asset-Based Finance team’s goal of developing long-term origination partnerships that provide distinct and durable access to differentiated asset-based investment opportunities for its investors.

“We’re excited to partner with Homestead and its experienced management team to increase the platform’s origination capacity and expand capital access for farmers,” said Burak Cetin, managing director for the Asset-Based Finance (ABF) team at Barings.

“Through this partnership, we are expanding Barings’ asset-based origination network into the U.S. agricultural market and offering our clients access to differentiated agricultural credit opportunities.”