The Murray-Darling Basin Balanced Water Fund, managed by Kilter Rural, held a first close on A$27 million in November 2015, beating its $25 million minimum target for that close. The Nature Conservancy-backed fund returns water to wetlands in abundant years and ensures water to farms in drier years. Agri investor asked Kilter Rural water general manager Euan Friday about how the water rights landscape in Australia developed, the fund’s ecological aims and why it has so far been limited to Australian investors.

Originally published: agri investor: 20 April 2016.