Timberland

The firm’s new forestry team has a track record of sourcing off-market deals, and its CEO believes it can cash in on LP goodwill to raise capital quickly.

Insured carbon credits will be compensated though ‘in-kind replacements,’ or buyers will be reimbursed their purchase price where replacement credits are not available.

The investment marks the initial acquisition by Fiera Comox’s Global Sustainable Timberland Strategy.

The ACCESS Pool appointed Apex Investment Advisory in January to find an asset manager through which the pension scheme pool could invest in natural capital.

BTG’s Mark Wishnie says an expectation that the private sector will be made responsible for its carbon emissions is driving action in voluntary carbon markets.

The vehicle received a £50m commitment from the South Yorkshire Pensions Authority to hit the fundraising milestone.

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

The investment was made into the firm’s tenth iteration of its secondaries timberland fund, which has a $1bn target and had raised $635m by January 2024.

New Forests has built up its presence in Kenya since 2021 and aims to scale its investment in Africa’s forestry sector.