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Carrot growing in soil
The blended finance vehicle has also attracted investments from the European Investment Bank as well as French and British government agencies.
The $713m pension’s search is being led by Segal Macro Advisors, which advised the Cambridge Retirement Board on a similar 2017 search resulting in a $15m commitment to the Hancock Timberland and Farmland Fund.
Private softwood plantations have also been affected by the Australian bushfire crisis, although the exact areas affected and the scale of the damage remain unknown.
The ACCC raised its strongest concerns over a bid by New Forests, which dropped out shortly afterwards, paving the way for the competition watchdog to approve Global Forest Partners’ bid.
The Canadian DFI’s commitment includes provisions to encourage gender equality in Africa’s forestry sector and within the forestry fund itself.
The Australian fund saw the value of its infrastructure and timberland portfolio rise even as it fell as a percentage of total AUM, due to disposals of illiquid overseas assets including Gatwick Airport.
The firm is launching its first managed investment fund, a 10-year closed-ended vehicle targeting an IRR of 8-18% that will invest exclusively in Australian timberland.
The two managers’ offers for assets owned by Resource Management Service have raised concerns with the ACCC over a potential reduction in export services.
Following its disposal of 555,000 Michigan acres, Weyerhaeuser’s plans for similar properties in Maine could provide clues as to whether the sale marks a shift in species preference.
NSW treasurer Dominic Perrottet has launched a study into the long-term lease of its commercial softwood plantation business, which sources say could raise as much as A$1bn.
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