NEW YORK, NY and ST. PAUL, MN – July 24, 2025 – Global investment firm Carlyle (NASDAQ: CG) today announced that it has entered into a $250 million forward-flow agreement to purchase newly issued farm operating loans from FarmOp Capital, a leading provider of farm operating loans in the US. This partnership will enable FarmOp Capital to increase their origination capacity and expand capital access for independent row crop farmers across the US.
FarmOp Capital provides highly tailored working capital solutions that empower farmers to access operating credit through innovative, crop insurance-backed underwriting models. Unlike traditional lenders who rely on borrower balance sheets, FarmOp Capital provides farm operating loans for farmers based on their ability to produce a crop, offering scalable capital and flexibility to growers so they can more effectively grow their operations.
“We are extremely excited to begin working with Carlyle because it really represents not only new, extensive growth for FarmOp Capital and our customers, but also our stability and longevity in the industry,” said Keir Renick, CEO, FarmOp Capital. “Partnering with Carlyle will allow FarmOp Capital to continue bringing operating loans to farmers but also innovate new products and offerings to help our customers and partners throughout the agriculture industry.”
“We are thrilled to partner with FarmOp Capital, a differentiated platform in the agricultural finance space bringing together technology, credit discipline, and farmer-first innovation,” said Akhil Bansal, Head of Asset-Backed Finance at Carlyle. “This investment reflects our continued commitment to scaling asset-backed finance across specialized sectors, leveraging Carlyle’s structuring expertise and industry insight to support innovative platforms with high-quality, collateral-backed credit.”
“At Carlyle, we recognize the critical role that working capital plays in sustaining independent U.S. farmers,” said Gregory Gudis, a Principal on Carlyle’s Asset-Backed Finance team. “Through this partnership, we’re proud to expand access to flexible financing for growers who have historically lacked suitable credit options.”
This transaction was led by Carlyle Asset-Backed Finance (“Carlyle ABF”), a group within Carlyle’s Global Credit platform focused on private fixed income and asset-backed investments. The highly experienced team leverages the knowledge, sourcing, structuring, and breadth of the entire Carlyle investment platform to help deliver tailored asset-focused financing solutions to businesses, specialty finance companies, banks, asset managers, and other originators and owners of diversified pools of assets. Carlyle ABF has deployed approximately $8 billion since 2021 and has approximately $9 billion in assets under management as of March 31, 2025.
Paul Hastings LLP served as the legal advisor to Carlyle in connection with the transaction; Mayer Brown LLP served as legal advisor for FarmOp Capital.
About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $453 billion of assets under management as of March 31, 2025, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.
About FarmOp Capital
Founded in 2017, FarmOp Capital knows that access to opportunity begins with access to capital. With financial solutions enabling farmers to be more profitable and invest in their businesses, FarmOp provides more money sooner, increasing buying leverage and adding certainty to decision-making. FarmOp is leading the evolution of agricultural loan products and services for farmers, originators, retailers and investors, transforming lending with trusted, software-enabled services, to ensure that farmers are presented with the best financial options.
Media Contact
Carlyle
Kristen Ashton
+1 212-813-4763
kristen.ashton@carlyle.com
FarmOp Capital
Rachel Torbert
+1 217-519-2028
rachel@roosterstrategy.com