WisdomTree to acquire $1.85B AUM specialist asset manager

A US innovator known for its exchange-traded products and exchange-traded funds has announced a major acquisition.

WisdomTree has entered into a definitive agreement to acquire Ceres Partners, LLC, a specialist alternative asset manager focused on the $3.5 trillion US farmland market along with adjacent assets such as solar, AI data infrastructure, and water.

Ceres has approximately $1.85 billion in assets under management with around 545 US farmland properties across 12 states, mostly in the Midwest. WisdomTree sees this asset class as ripe for growth and Ceres has delivered strong results with a 10.3% net average annual total return since its inception in 2007—outperforming farmland benchmarks.

“Farmland is one of the largest yet most underpenetrated real asset classes in the U.S., offering both scale and scarcity,” said Jonathan Steinberg, WisdomTree Founder and CEO. “This acquisition expands our leadership in innovative, income-generating investment solutions, while strategically accelerating our entry into private asset markets with a high-quality, scalable platform. It reflects our commitment to delivering differentiated exposures that drive long-term value for clients and stockholders alike.”

Steinberg adds that the acquisition positions the firm to capitalize on “the most significant structural growth opportunities in wealth and asset management today: ETPs, private markets, managed models and tokenization.”

The move into private asset markets will be immediately accretive, WisdomTree says, and will also offer long-term income growth potential.

Ceres founder and CEO Perry Veith says that his firm has a proud legacy of working with farmers in long-term partnerships and that being part of WisdomTree marks an exciting new chapter.

“For nearly two decades, we’ve built a differentiated farmland investment platform rooted in performance, operational expertise and a deep understanding of US agricultural markets,” he says. “This partnership brings product innovation, scale and distribution that will allow us to reach more investors seeking resilient, inflation-hedged and income-generating real assets. Together, we are uniquely positioned to capitalize on the next wave of growth in farmland —including solar, AI data infrastructure and water—with a shared commitment to innovation and long-term value creation.”

The terms of the transaction are $275 million upfront cash consideration payable at closing, subject to customary adjustments; and up to $225 million earn-out consideration payable in 2030, contingent on compound annual revenue growth of 12–22% measured over five years.

Subject to approvals, financing and other customary closing conditions, the transaction is expected to close in Q4 2025.