|
Laxman Pai, Opalesque Asia: J.P. Morgan Asset Management's timberland investment advisory company Campbell Global announced that it has raised $1.5 billion at the close of its responsible forest management-focused Forest & Climate Solutions Fund II.
According to a media release from the world's fifth largest bank by total assets, Fund II significantly exceeded its initial $1 billion fundraising target, and the firm added that it also closed several separate account mandates, bringing the total capital raise for its timberland management strategy to $2.3 billion.
"Along with the financial attributes, the removal of carbon, protection of water, and enhancement of biodiversity and habitats encompass some of the important work we do in the forests on behalf of our investors," said John Gilleland, Chief Executive Officer of Campbell Global.
J.P. Morgan Asset Management acquired Campbell Global in 2021, in a move aimed at providing investors with direct access to the forestry sector and alignment with UN Sustainable Development Goals (SDGs) and enabling the firm to directly participate in the transition to a low-carbon economy, with the company expecting to become an active participant in carbon offset markets as they develop.
The new global fund leverages Campbell Global's expertise in managing commercial forestland across OECD regions. It uses a blended approach that will support traditional timber production and carbon sequestration and offers the benefit...................... To view our full article Click here
|
RSS
