Emerging Markets

The permanent crops vehicle has received commitments from institutional LPs in Europe, North America, Australia and Chile.

Climate Fund Managers’ $1.06bn final close for Climate Investor II is a win for climate finance in frontier markets. It’s also a reminder that standardization remains elusive.

The blended finance fund manager previously structured the $1.6bn Galapagos debt-for-nature swap, in which CI2 was an investor.

Managing director John McKenna says LPs are waking up to the fact ‘40% of the world’s biodiversity is in Latin America’ and are allocating accordingly.

Humanity needs to produce more food on less land, according to the impact-focused fund manager.

Debt-for-nature swaps surged in 2023, but have slowed sharply since. The reason lies less with sovereign appetite than with the availability of political risk insurance.

The venture capital fund will target areas including maritime decarbonization, ocean renewable energy and green shipping infrastructure.

The vehicle targets consumer businesses in food and beverage, retail and restaurants, and consumer brands.

The acquisition expands New Forests’ sub-Saharan portfolio to more than 52,000ha of plantations across South Africa, Mozambique, Tanzania and Uganda.

The vehicle will make investments in areas such as afforestation and sustainable land use in Asia, Latin America and Africa.