Close on the heels of their purchase of prominent NSW cropping and grazing spread, Jemalong Station, Canada's Alberta Investment Management Corporation and Sydney-based New Agriculture have teamed up again, buying a swag of Kimberley cattle properties. The partnership's new 3 million hectare Kimberley Cattle Portfolio in north western West Australia involves seven leases and five sub-leases operated by the Argyle Cattle Company and Yougawalla Pastoral Company, plus agistment country. With the exception of Argyle's Shamrock Station, which is also developing 12, 42ha centre pivot irrigation areas, the combined large-scale beef business is based around Halls Creek. It was bought after being offered for public tender by current key Chinese-backed investor, Archstone Investment Group. The AIMCo-New Agriculture partnership is best known as the owner and manager of the huge Lawson Grains portfolio of properties spread from Moree in northern NSW to Esperance and Wongan Hills in WA, bought for about $550m early last year from Macquarie Bank. Lawson Grains has since grown to 11 expanding aggregations, having paid $35m for Green Park in southern NSW early this year and about $85m for the Lachlan Valley's 13,500ha Jemalong Station in August. Jemalong was previously the prized possession of the Kahlbetzer family's Twynam Agriculture, bought by Dutch investment group Optifarm in 2018. The Kimberley cattle breeding and backgrounding portfolio purchase will be AIMCo's first investment in the pastoral industry, although the deal is still subject to federal and WA government regulatory approvals. The operation has been sold by the Hong Kong-based Hui family which, through its Archstone group, initially bought Bulka, Yougawalla and Margaret River stations in 2017 from media marketer, Harold Mitchell, along with large cattle herds. The Argyle assets, Beefood Park, Moola Bulla, Mt Amhurst and Shamrock stations were added later. The Hui family, led by Chinese-Australian billionaire, Hui Wing Mau, also owns a majority stake in northern NSW's Bindaree Beef abattoir, feedlot and export meat business. Kimberley's new owner, AIMCo is one of Canada's largest institutional investment managers, investing globally on behalf of pension, endowment and government funds in the Province of Alberta. It has a lengthy record of investing in property in Australia, initially in forestry country. Its local partner and investment manager, New Agriculture, was established to manage Lawson Grains and to build a trans-Tasman portfolio of agriculture assets for its parent, New Forests. The local, 18-year-old New Forests is the investment manager for a global portfolio of nature-based real assets. AIMCo's head of infrastructure and renewable resources, Ben Hawkins, said the Kimberley cattle business was an established and well-managed asset which offered important diversification for the pension fund's client portfolios. "We are very pleased to continue our partnership with New Agriculture," he said. The local manager would contribute its asset management and sustainability expertise as the two partners sought to achieve "positive investment returns and community impact". New Agriculture director, Bruce King, said Kimberley Cattle represented a key opportunity to manage for strong investment outcomes alongside leading sustainability objectives. "With up to 25 per cent of the solution to climate change expected to come from the land use sector, we have a responsibility to manage these landscapes for sustainability outcomes, and with our local communities in mind," Mr King said. "Our intention is to apply the same level of rigour and commitment to sustainability that New Forests has in the forestry space to the agriculture sector." New Agriculture was focused on sustainability practices which allowed for the protection and restoration of landscapes, and enhanced natural capital over time. As part of the agreement, Haydn and Jane Sale will be retained as managers of the Kimberley portfolio. New Agriculture expected regulatory approval for the sale to be finalised in the first half of next year. As part of the agreement, Haydn and Jane Sale will be retained as managers of the Kimberley portfolio. Financial details of the transaction are confidential.