Beyond Farming

The Global Private Capital team at QIC is Rethinking Agribusiness. Our acquired controlling interest of North Australian Pastoral Company (NAPCO) is central to our strategy.

Watch the video below to learn more about the asset and our approach.




Attractive themes are a key driver of our investment decisions.

Global beef consumption is forecast to grow considerably, particularly from Asia as the combination of income and population growth from the rising middle class is expected accelerate demand for beef.[1] This trend is complemented by contracting and complicated supply dynamics that indicate a potential longer term structural price increase.

These demand and supply dynamics combined with Australia’s natural competitive advantage in terms of industry structure, environment and geographic location make the beef sector an attractive macro thematic to pursue.


In July 2016, QIC acquired a controlling interest in The North Australian Pastoral Company (NAPCO).

NAPCO is one of Australia’s oldest and largest agricultural enterprises covering 5.8 million hectares across Queensland and the Northern Territory with approximately 190,000 head of cattle. 

NAPCO’s beef production operations are established from breeding through to feedlot across 13 strategically located properties and a feedlot on the Darling Downs. NAPCO is a strong story of provenance and supply integration.


Our Modern Food Strategy focuses on transitioning production led agribusiness companies to a demand-led model through co-ordinating the supply chain globally.

Our current vision is to transform NAPCO into a demand driven vertically integrated beef business. 





QIC Limited ACN 130 539 123 (“QIC”) is a wholesale funds manager and its products and services are not directly available to, and this document may not be provided to any, retail clients.  QIC is a company government owned corporation constituted under the Queensland Investment Corporation Act 1991 (Qld). QIC is regulated by State Government legislation pertaining to government owned corporations in addition to the Corporations Act 2001 (Cth) (“Corporations Act”). QIC does not hold an Australian financial services (“AFS”) licence and certain provisions (including the financial product disclosure provisions) of the Corporations Act do not apply to QIC. QIC Private Capital Pty Ltd (“QPC”), a wholly owned subsidiary of QIC, has been issued with an AFS licence and other wholly owned subsidiaries of QIC are authorised representatives of QPC. QIC’s subsidiaries are required to comply with the Corporations Act.  QIC also has wholly owned subsidiaries authorised, registered or licensed by the United Kingdom Financial Conduct Authority (“FCA”), the United States Securities and Exchange Commission (“SEC”) and the Korean Financial Services Commission.

For more information about QIC, our approach, clients and regulatory framework, please refer to our website or contact us directly.

The statements and any opinions in this document (the “Information”) are for commentary purposes only and do not take into account any investor’s personal, financial or tax objectives, situation or needs.  The Information is not intended to constitute personal legal or investment advice and it does not constitute, and should not be construed as, an offer to sell or solicitation of an offer to buy, securities or any other investment, investment management or advisory services. Past performance is not a reliable indicator of future performance.

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[1] Source: OECD-FAO 2014, “Agricultural Outlook 2014”


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