Real Assets

As Railpen and Brunel also upgrade their net-zero strategies, the £11bn UK endowment is raising the bar for fund managers on climate risk integration.

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The firm achieved a 15.5% IRR after a near five-year hold of the afforestation property, with buyers attracted by the development work that has already been done to de-risk the asset.

From housing shortages to net-zero targets, the world’s structural challenges are aligning with timber’s strengths – and LPs are starting to price that in.

The vehicle has a $200m fundraising target and will add a further 40,000ha of forestry in Paraguay.

Steve Bruere says the deal complements an ongoing effort to cement the firm’s position in a Midwest market he sees as the ‘heart of the watermelon’ for the farmland transaction business.

New income streams – from water rights to conservation and data infrastructure – are redefining what investors see in ranchland, says Ranchland Capital’s Ed Bardowski.

The merger of Rayonier and PotlatchDeltic and the sale of Greif’s land to Molpus and APG show that public REITs and private managers are rethinking where value lies.

The farmland and timberland investor will pursue its strategy of repositioning undervalued assets through organic and regenerative conversion, operational efficiency and decarbonization.

The €355bn asset management arm of German insurer Munich Re has promoted internally to fill the role, with incumbent Katja Lammert leaving the firm.