Proterra Investment Partners Announces Formal Launch of Net Lease Real Estate Strategy

MINNEAPOLIS, July 16, 2025 /PRNewswire/ -- Proterra Investment Partners LP ("Proterra"), a Minneapolis-based alternative asset manager focused on private equity and private credit investments across the global food value chain, is pleased to announce the official launch of its Net Lease Real Estate strategy. This initiative further diversifies Proterra's portfolio and represents a strategic expansion into long-duration, yield-oriented real estate—leveraging the firm's deep expertise in the food value chain and agribusiness sectors.

The Net Lease Real Estate strategy is being led by industry veteran David Kay, who brings over 25 years of experience in the sector. Mr. Kay was the founder of Capital Automotive REIT (CARS), the first company focused exclusively on sale-leaseback capital for the automotive retail industry. He also served as President and CEO of American Realty Capital Properties (ARCP) (renamed VEREIT, NYSE: VER), which was ultimately acquired by Realty Income.

"It's an exciting time to be leading Proterra's Net Lease Real Estate strategy," said David Kay. "We've assembled a truly dynamic team that brings together decades of specialized experience. The opportunity to partner with industry leading companies through thoughtful, flexible real estate capital is significant—especially in today's market—and we're excited about the value we can deliver to both tenants and investors. The platform at Proterra is ideal for this asset class, and I am confident in our ability to drive substantial success." 

The Net Lease Real Estate strategy focuses on well-executed net leases that offer attractive, cycle-agnostic, defensive cash yields —particularly within food, beverage, agriculture, and other critical industries. The firm's established relationships and knowledge within the food value chain are expected to provide a unique advantage in sourcing and underwriting transactions.  Proterra aims to capitalize on sale-leaseback investments, which are expected to benefit from rising rents, steady contractual growth from long-duration leases, and the inherent safety of collateral provided by physical property.

"We designed this strategy to complement our existing investment platforms and respond to growing demand from our investors and relationships for defensive, income-oriented alternatives," said Rich Gammill, Managing Partner at Proterra. "We've been deliberate in building the right foundation—assembling a team, refining the strategy, and ensuring we can execute at institutional scale."

John Minor, Managing Director at Proterra added: "We have a clear roadmap for growth and are actively pursuing opportunities that align with our disciplined investment approach. We are well positioned to capitalize on the increasing demand for high-quality net lease assets."

Proterra remains committed to its core mission of delivering exceptional value to its investors through innovative and well-executed investment strategies. The launch builds on the strategic groundwork laid earlier this year and marks a significant milestone in the firm's continued evolution and growth.

About Proterra Investment Partners LP

Proterra is an alternative asset manager that makes investments across the food value chain from farm to fork. The firm, which spun out of Black River Asset Management — a wholly owned, independently managed division of Cargill — focuses on seven core investment verticals: Credit, Farmland, Growth Equity, Proterra Asia, Sustainable Agriculture, Asset-backed Strategies, and Real Estate. Headquartered in Minneapolis, the firm employs 66 professionals across four global offices: Minneapolis, Shanghai, Singapore and Sydney. For more information, visit https://www.proterrapartners.com/.

Media Contact
Proterra Investment Partners LP
Matthew Coad
Head of Capital Formation
[email protected] 

SOURCE Proterra Investment Partners