Campbell eyes non-US timber fund – exclusive

The US timberland investment manager is raising a non-US timber fund to focus on buying assets in Australia, Brazil, Chile, New Zealand and Uruguay.

Campbell Global, the US timberland investment manager, is fundraising for a global timber fund to invest in non-US countries, according to Steven King, the newly-appointed director. The fund will focus on investing in Australia, Brazil, Chile, New Zealand and Uruguay.

King would not disclose the size of the fund on offer, citing SEC regulations.

The news comes a month after the firm hired Mauricio Penteado as head of Latin America and Rob van Rossen as director of acquisitions, Australasia.

King said the fund would also have a bucket for opportunistic assets in countries including Latin America countries like Colombia, Peru, Costa Rica, Panama, South America and Eastern Europe. He said at least 70 percent of the fund will be allocated to the five core countries and roughly 30 percent to non-core markets in line with the investor base’s risk appetite, according to King.

Despite the higher risk, some of the more emerging economies do have high-quality products coming to the market, he added. The fund’s investor base is likely to include existing institutional investors and new investors, said King.

Campbell has been in the timber business for over 30 years and has raised a number of funds and separate accounts. Until now, they have been largely been focused on Australia, Canada and US.

The firm currently manages more than 3.1 million acres worldwide, representing approximately $6.7 billion in assets.