Climate

The firm has made early-stage investments in agricultural supply chain start-ups across Europe.

The chairman says forestry ‘could be the infrastructure of tomorrow’ and that Australia’s superfunds would do well to make their move sooner rather than later.

The pioneering impact investing firm has recruited a veteran investor from Just Climate to co-lead the strategy.

The firm manages a 306,000ha portfolio that is regeneratively managed and sequestered 100,000 tonnes of CO2 while emitting 30,400 tonnes.

Savills natcap head Alex Godfrey has been recruited to lead the strategy, which will invest in UK assets with afforestation and peatland restoration potential.

The new fund, backed by European Investment Fund, Ikea Foundation and Convex, among others, is one of four ocean-focused funds that have raised a combined $647m.

The early-stage venture capital strategy was launched in December 2021 and has amassed a portfolio of more than 20 companies.

The firm has held a $100m first close on a strategy that promises to mobilize $5.6 for every dollar spent.

Managing partner and co-founder Fabio Sofia says the practice creates ‘some tensions in terms of alignment of interests’ in the value chain.

Profits dipped at Macquarie Asset Management thanks to increased costs in developing renewable energy projects, as well as a slowdown in asset realizations in clean energy.