Narrabri buy for Sir Michael Hintze
The expatriate billionaire hedge fund manager Sir Michael Hintze has again expanded his NSW farming properties.
He's spent $2,685,000 on 905 hectares at Wean, near Narrabri.
Sir Michael has a fortune estimated at $2.2 billion.
He is the founder of London-headquartered global fund manager CQS, with assets under management of $US13 billion ($17 billion).
Hintze was born in the Chinese city of Harbin where his family lived after fleeing the Bolshevik revolution in Russia.
The 64-year-old, who was an Australian Army captain, started his rural buy near Goulburn in 2007 with the priciest acquisition, a $12.5 million purchase of the 3,300 hectare grazing property Little Wollogorang from the Crookes clan.
His subsequent acquisitions, mostly in rural NSW, come close to $90 million including Deltroit, the Gundagai district 2573 hectare property.
His MH Premium Farms now owns more than 20 rural properties in Australia spanning more than 70,000 hectares across Australia from North Queensland sugar farms to Victoria.
The veteran hedge fund trader - who grew up in Sydney - doesn't have a home in the NSW capital.
He deemed his farming portfolio as an investment not just looking for capital gain from the properties but also seeking solid returns on farm production.
This article first appeared in the Sunday Telegraph.