New Forests appoints North America managing director

Asset manager New Forests has appointed Jeff Briggs to the role of managing director, North America, replacing Mark Rogers, who is stepping up from the role of senior managing director for the US, Australia and New Zealand to become the firm’s CEO in April 2023.

Briggs joins New Forests from WasteFuel, where he was chief operating officer. WasteFuel converts municipal solid waste into low-carbon fuels such as renewable natural gas and green methanol.

Prior to that, Briggs was chief operating officer at Green Plains Renewable Energy, a US-listed renewable energy firm, and was a founding partner of investment firm Frigate Capital, where he was a portfolio manager analyzing investments in small and mid-cap value stocks.

Rogers is replacing outgoing CEO and founder David Brand, who will take on the role of chair.

New Forests said in a statement that Briggs will be responsible for the firm’s overall strategy in North America. The appointment follows that of Guadalupe Folegatti, who joined New Forests as manager, client relations, US, in August 2022.

The firm is currently fundraising for its US Forest Climate Solutions Fund, with a final close expected at some point in 2023.

In a statement, Rogers said: “The US is the largest forest products economy in the world, with California’s regulated carbon market one of the most established, making the US an important market for New Forests.

“We’re delighted to appoint Jeff to lead our business in its next stage of growth to deliver clients strong investment performance, combined with sustainability and climate mitigation outcomes. Jeff’s experience leading and growing teams, combined with his operational and investment skills, will be an asset to our business.”

Separately, New Forests announced that the agreement for Mitsui & Co and Nomura Holdings to acquire New Forests – announced in 2022 – was finalized on January 31, 2023. Financial details of the transaction were not disclosed.