Timberland

Annual fundraising for 2023 has slotted into the 8.2bn five-year average as 2022 emerges as the market’s major slump-year since 2018.

The firm expanded its partnership with iCapital last year to include access to farmland investments through its open-end Global Farmland Fund.

The firm raised $945m across its secondaries and carbon strategies in 2023.

The non-profit asset manager was launched by three partners to invest exclusively in the US state of Maine.

The third acquisition for the Roc Agri+ Infrastructure Fund is also Roc Partners’ first agricultural investment in New Zealand.

New Forests’ second Tropical Asia Forest Fund has ended up raising less capital than its predecessor, which closed on $170m in 2012.

The pension is the latest to warm to forestry, after the ACCESS Pool signaled its intent to deploy £300m into the asset class earlier this month.

TPG’s Rise Fund III and Goldman Sachs Asset Management’s Climate Solutions Fund are two of the many climate vehicles closed in 2023 that have an allocation to food and natural assets.

CAP managing director Jim Heyes says the team behind MozFibra has laid the business plans necessary to avoid the pitfalls of many past African forestry investments that did not put the required emphasis on market access logistics.

FIA managing director MaryKate Bullen says there has been a broadening of investor appreciation and understanding of the intrinsic value and climate benefits that working forests provide.