Regenerative farmland has come a long way in five years. Sustainability claims face greater scrutiny, geopolitical tensions have increased, and investors are demanding stronger evidence of outcomes.

At a recent industry discussion, Jeroen van der Put, pension fund board member and investment adviser, joined Richard Jacobs, Head of Farmland Investment at Van Lanschot Kempen Investment Management, to reflect on five years of investing in regenerative farmland. Bringing together the investor and manager perspectives, they explored how the asset class has evolved, from changing expectations around sustainability and measurement to the challenges of scaling regenerative agriculture in a more uncertain world.

The case for investing remains intact
When Van Lanschot Kempen and its anchor investors first invested, the rationale centred on four key factors:

1. Growing demand for food, driven by population growth and rising wealth

2. The scarcity of productive agricultural land

3. The opportunity to contribute to better climate, biodiversity and soil-health outcomes

4. Diversification benefits within a broader real assets portfolio

Five years on, those core drivers remain intact. What has changed is the way investors assess them. Sustainability claims face greater scrutiny, evidence and measurement have become increasingly important, and geopolitical uncertainty has placed renewed emphasis on food security and long-term stewardship.

Soil health is moving into the mainstream
One of the biggest shifts over the past five years has been the way investors think about soil health. While it was once viewed primarily through a sustainability lens, it is increasingly recognised as a contributor to long-term agricultural productivity and farmland quality. As interest in the asset class has grown, so too has the focus on measurement, transparency and demonstrating outcomes over time.

Building the farms of the future
The next challenge is turning growing investor interest into scalable, investable farming platforms. 

Richard Jacobs argues that an ageing farmer population, changing patterns of land ownership and advances in technology are reshaping the agricultural landscape. Attracting more capital is only part of the answer. It must be combined with agricultural expertise, technology and institutional knowledge to support the farms of the future.

Turning interest into a scalable asset class will require more than capital. Low transparency, limited standardisation and the complexity of managing regulatory, political and climate risks remain significant barriers. For institutional investors, scaling depends on specialist expertise, diversification and strong governance.

A stronger case, higher expectations
Five years on, the case for regenerative farmland remains firmly in place. The bigger challenge now is how to scale it successfully. As the asset class matures, investors are demanding stronger evidence, while managers are focused on building the expertise,

technology and partnerships needed to support longterm growth. For the SDG Farmland strategy, the focus is no longer on whether regenerative farming has a role to play, but on how to deliver it effectively, measure outcomes and build an asset class that can attract broader institutional capital.

Read more about our regenerative farmland strategy 

Disclaimer: The Kempen SDG Farmland Fund International Feeder (the ‘Sub-Fund’) is a sub-fund of Kempen Alternative Markets Fund SICAV-RAIF (the ‘Fund’), domiciled in Luxembourg. Van Lanschot Kempen Investment Management NV (VLK Investment Management) is the management company of the Fund. VLK Investment Management is authorised as a management company and regulated by the Dutch Authority for the Financial Markets (AFM). The Sub-Fund is registered under the license of the Fund at the Dutch Authority for the Financial Markets (AFM).

This information constitutes an insufficient basis for an investment decision. You should therefore read the key information document and the prospectus. These documents are available on the website of VLK Investment Management (vanlanschotkempen.com/ennl/investment-management). The value of your investment may fluctuate. Past performance provides no guarantee for the future. The Sub-Fund is registered for offering in a limited number of countries. The countries where the Sub-Fund is registered are listed on the website of VLK Investment Management. The Sub- Fund is only available for professional investors.

© Van Lanschot Kempen Investment Management 2026