Kilter Rural is a sponsor of this year’s flagship Global AgInvesting conference 13th – 15th July 2021.

Connect with us

WATCH NOW: Why invest in Australian water?
Join CIO Euan Friday as he explores the water market. Available online now.
Meet our team
We can’t join you ‘on the green’ but our team is available throughout the conference + beyond EMAIL US or BOOK A TIME

Kilter Rural was established in 2004 to deliver profit with impact – investing at scale in the regeneration of farmland, water and environmental protection.

Why invest in Australian water?

A commodity like no other

Watch CIO Euan Friday’s presentation from Global AgInvesting in full.

For more information connect with our team. EMAIL US or BOOK A TIME


Connect with our team

The Kilter Rural difference


As an alternative real asset class, water provides opportunities for diversification and risk mitigation. Water has a return profile uncorrelated with traditional assets, making it one of the few asset classes able to provide a true source of alternative beta for Investors. Australian water markets provide one of the very few opportunities globally for investors to obtain direct exposure to this most vital of assets.

Our investment approach:

  • Has the ability to lift the overall yield achieved
  • Has the ability to significantly reduce volatility
  • Has the capacity to impact sustainability
  • Acts as a hedge against impacts of climate change.

Quality arable farmland across the globe is becoming increasingly scarce, with the World Bank reporting that arable land per person declined by 52% from 1961 to 2015.

Since 2006 we have been implementing our Future Farming Landscapes investment model, purchasing 40 properties, covering 12,000 hectares (29,640 acres) of irrigation farmland country in Australia. Farmland is regenerated at scale to deliver long-term resilience and reduced exposure to traditional risks. This is a core-plus strategy – adding value to deliver farmlands with a sustainable, global competitive advantage.

Our team


CEO and Executive Director
Since the late 1980s Cullen has dedicated his working life to advancing sustainable farmland, water and ecosystem management in Australia. Long-term exposure to the investment needs of Australian landscapes prompted a desire to attract institutional-scaled investment in sustainably managed landscapes.

He is a director of Accounting for Nature, a not-for-profit company with a vision to be a recognised global leader for measuring changes in the health of the environment. Cullen is a founding director of Kilter Rural and has been overseeing the existing investment portfolios since 2006.


Chair, Director, Chief Investment Officer
Euan has more than 25 years’ experience in senior financial and commercial roles. Prior to joining Kilter Rural in 2008, Euan spent 10 years working in PricewaterhouseCoopers’ Corporate Finance practice in Melbourne and Europe. This was followed by seven years with STA Travel where he held the roles of chief financial officer (CFO), director of sales and managing director for STA’s AUS/NZ business. During this period STA Travel’s annual turnover increased from $180 million to $350 million. At Kilter Rural, Euan has been integral to the establishment of the water business which today manages assets across all major classes of Water Entitlement on issue in the sMDB. Today, as CIO, Euan heads up Kilter Rural’s investments team focused on identifying and securing new investment opportunities for clients.


Manager Agricultural Investments

Angus has 20 years’ experience across production agriculture and agribusiness within various livestock and cropping sectors, including several years with ANZ Bank as an Agribusiness Manager. Prior to joining Kilter Rural in May 2018, Angus spent three years developing and overseeing four irrigated dairy properties in Tasmania on behalf of private investors. Angus is the portfolio manager for Kilter’s Australian Farmlands Fund.

Our investment options

Australian Farmlands Fund

The Fund invests in southern Murray-Darling Basin farmland and water assets. Underutilised farming properties are repurposed with quality infrastructure to produce higher value crops while also improving ecological outcomes. First 1200ha of farmland acquired and under development.

Kilter Water Fund

Using our extensive networks we secure attractive investment opportunities that deliver strong capital growth with superior returns generated through the distribution of proprietary water products to irrigators.

The Murray-Darling Basin Balanced Water Fund

Australia’s only explicit impact water fund investing in southern Murray-Darling Basin water markets to deliver financial returns and environmental impact through water donations to culturally important wetlands and ecosystems.