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|June 18, 2011|
Harvard, Vanderbilt and other major American universities are working through British hedge funds and European financial speculators to buy or lease vast areas of African farmland in deals, some of which may force many
thousands of people off their land, according to a new study.
Researchers say foreign investors are profiting from "land grabs" that
often fail to deliver the promised benefits of jobs and economic
development, and can lead to environmental and social problems in the
poorest countries in the world.
Much of the money is said to be channelled through London-based Emergent asset management, which runs one of Africa's
largest land acquisition funds, run by former JP Morgan and Goldman
Sachs currency dealers.