Binyamin Ali
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.
The vehicle has a €150m target and will focus on businesses concerned with planetary health.
The vehicle has a $200m target and follows on the heals of its $500m Credit Fund II close in 2023.
The investment manager has created the new role to support its ambition of creating a global platform of natural capital strategies.
The vehicle received a £50m commitment from the South Yorkshire Pensions Authority to hit the fundraising milestone.
TPG subsidiary Rubicon Carbon has a pre-existing partnership with project developer Imperative Global to market $500m of its carbon projects.
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 firm manages a 306,000ha portfolio that is regeneratively managed and sequestered 100,000 tonnes of CO2 while emitting 30,400 tonnes.
The firm has followed up its inaugural $423m fund with a successor that will continue its food and consumer strategy.