Deals

Campbell’s global strategy raises $250m

The firm's newly appointed president Angie Davis says the firm sees a deep pipeline of opportunities in Brazil as it analyses opportunities in Latin America, Australia and New Zealand.

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Canopy of the Amazon Rainforest

Timberland and natural resources investment manager Campbell Global has raised about $250 million with its global strategy and is analysing opportunities in Latin America, according to newly appointed president Angie Davis.

The firm’s portfolio was exclusively North America-focused until it acquired more than 250,000 acres of forestry assets in the Australian Green Triangle plantations in 2012.

Campbell now targets timberland properties in some Latin American countries, the US, Canada, Australia and New Zealand, Davis told Agri Investor. The firm has yet to invest in some target countries, including New Zealand.

“There are opportunities throughout these markets and we are active in all of them. I can’t say we prefer one over the other because each transaction is unique,” said Davis. “What you see in Latin America, specifically Brazil, in transactions that are off-market due to the perceived political risk in the region, [is that] there can be timberland of extreme quality and very well managed with very deep markets that are competitively priced. We do see more opportunities there, with a really deep pipeline.

“In New Zealand and Australia there are fewer transactions but of extremely high quality and again you just need to be ready to step in when they do come to market.”

Campbell manages about 2.7 million acres of timberland and natural resources assets. In the last year it has acquired over 100,000 acres of timberland, previously managed by Hancock Timber Resource Group, in Washington. Based in Oregon, the firm’s clients include institutional investors like Massachusetts Pension Reserves Investment Management Board, which mandated the firm in 2002, and high net worth individuals.

Managing director David Rumker has been made chief investment officer, while Julie Lawrence replaces Davis as managing director of investor relations. Former Probitas Partners director Jenny West has been hired as director of business development.

Davis joined Campbell 16 years ago after a post as assistant director of investments with the Oregon State Treasury, where her team was responsible for investing all State of Oregon funds including Oregon’s Public Employees Retirement Fund.

Campbell currently has around 250 employees and manages around $6 billion of assets.