WisdomTree, Inc. (NYSE: WT), a global financial innovator known for its pioneering role in exchange-traded products (ETPs), managed models, and digital asset strategies, has announced the completion of its previously disclosed acquisition of Ceres Partners, LLC, a leading alternative asset manager specializing in U.S. farmland investments. The transaction represents WisdomTree’s first major step into the private asset markets, signaling a new chapter in the company’s growth strategy as it seeks to diversify its product offerings and strengthen its foothold at the intersection of public and private investment opportunities.
A Landmark Move into Private Markets
The acquisition of Ceres Partners is more than a financial transaction; it is a strategic pivot designed to broaden WisdomTree’s capabilities beyond its established strengths in public market investment products. Farmland, a unique and resilient asset class, is at the center of this expansion. Despite being one of the largest real asset categories globally, farmland remains relatively underpenetrated by institutional investors. Its track record of delivering equity-like returns with lower volatility, combined with minimal correlation to traditional stock and bond markets, makes it increasingly attractive to investors seeking diversification and inflation protection.
Jonathan Steinberg, Founder and Chief Executive Officer of WisdomTree, underscored the significance of this move.
“The completion of the acquisition of Ceres marks a transformative moment for WisdomTree,” Steinberg said. “Our entry into private markets begins with farmland, a space where we can truly differentiate, establish leadership, and capture meaningful growth. By adding farmland to our product suite, we are expanding our reach into private markets and accelerating our long-term growth strategy. This acquisition provides investors with unique access to a resilient, inflation-protected asset class, while bringing on Ceres’ farmland platform, which has delivered net annualized returns of over 10% since inception. Ceres’ strong performance enhances our platform, strengthens diversification, and reinforces our commitment to building enduring value for clients and stockholders.”
Steinberg emphasized that farmland fits naturally into WisdomTree’s vision of combining innovative asset classes with investor-friendly structures. The move allows the firm to leverage its expertise in packaging investment solutions and extend that capability into alternative markets that historically have been less accessible to retail and institutional investors.
Transaction Details
Under the terms of the agreement, WisdomTree acquired Ceres Partners for a total consideration of $275 million in cash at closing, subject to customary post-closing adjustments. In addition, the deal includes an earnout provision of up to $225 million, payable in 2030, contingent on Ceres meeting specified revenue growth targets. The upfront payment was financed through proceeds from WisdomTree’s recently completed convertible senior notes offering, underscoring the firm’s strategic use of capital markets to fund expansion initiatives.
By structuring the deal with both upfront and contingent consideration, WisdomTree has balanced immediate ownership with performance-based incentives that align the interests of Ceres’ leadership team with long-term value creation.
Ceres Partners’ Track Record
Founded nearly two decades ago, Ceres Partners has built a reputation as one of the premier managers of farmland investments in the United States. The firm currently manages billions of dollars in assets and operates a robust platform that combines farmland ownership with operational expertise and close partnerships with local farming communities. Its farmland strategy has consistently produced net annualized returns exceeding 10% since inception, a performance level that highlights both the resilience of farmland as an asset class and the effectiveness of Ceres’ management approach.
Perry Vieth, Founder and Chief Executive Officer of Ceres Partners, expressed optimism about the opportunities ahead under WisdomTree’s ownership.
“Joining WisdomTree is an important milestone for Ceres. For nearly two decades, we’ve built a farmland investment platform rooted in performance, operational expertise and partnerships with farmers. With WisdomTree’s scale, distribution and digital innovation, we can bring farmland and adjacent opportunities in solar leasing, AI data infrastructure and water rights to a broader base of investors, driving the next chapter of growth.”
Vieth noted that WisdomTree’s global distribution network and expertise in investor education would allow Ceres’ farmland platform to reach more institutional investors, wealth managers, and even retail investors who historically may not have had easy access to private farmland investments.
Strategic Significance of Farmland
Farmland has long been recognized as a tangible and productive real asset with unique qualities. Unlike more volatile asset classes, farmland generates steady returns through crop production and land appreciation, while serving as a hedge against inflation. In recent years, rising food demand, limited arable land, and global supply chain shifts have further underscored farmland’s strategic importance.
By incorporating farmland into its broader product suite, WisdomTree is positioning itself as a bridge between public and private markets. Investors who are already familiar with WisdomTree’s ETFs and managed strategies can now access a differentiated real asset opportunity under the same brand umbrella. This not only diversifies investor portfolios but also strengthens WisdomTree’s value proposition as a holistic investment solutions provider.
Broader Growth Opportunities
Beyond traditional farmland ownership, the acquisition also opens the door for new growth avenues. Ceres has been exploring adjacent opportunities such as solar leasing on farmland, AI-driven agricultural data infrastructure, and water rights management—all areas with long-term investment potential. These innovations align with WisdomTree’s reputation as a forward-looking firm that integrates technology and sustainability into its strategies.
For WisdomTree, the integration of farmland and related opportunities into its platform is expected to enhance its competitive positioning. The firm is now better equipped to cater to institutional investors seeking alternative assets, as well as individuals looking for inflation-protected, income-generating investments outside of traditional markets.
