– Manulife Investment Management, the world’s leading timberland investment manager, has completed the third and final close of the Manulife Forest Climate Fund LP, securing $480.1 million in commitments.
– Investors include qualified U.S. investors, corporates, and global institutional investors seeking to support climate change mitigation through sustainably managed forests.
– The fund prioritizes carbon sequestration over timber production and aims to sequester over 6 million tons of carbon dioxide over its term.
– Investors will have access to high-quality carbon credits with options for in-kind distributions or offset sales.
– The fund’s strategy includes afforestation and reforestation initiatives to generate long-term sustainable timber value.
– More than 150,000 acres have been acquired, with nearly 50% of the fund’s capital deployed.
– “We are excited to announce this milestone for the Manulife Forest Climate Fund and have seen strong interest in the forest climate strategy from a broad base of global investors, further highlighting the acceptance and growing use of forestland as a climate change mitigation tool that has added new dimensions to timberland investment,” said Tom Sarno, global head of timberland investments, Manulife Investment Management.
– “Investors are showing confidence in forests as a top natural climate solution,” added Eric Cooperström, managing director, impact investing and natural climate solutions, Manulife Investment Management. “With the interest we have seen in the fund, we will continue to pursue natural climate solutions to drive new opportunities for impact and results for our clients.”
– The fund’s acquisitions include Eagle Cap in Oregon and Washington, Siscowet in Michigan, and Oak Bluff across Mississippi, Louisiana, and Arkansas.
– Manulife IM manages a $100 billion private markets platform spanning infrastructure, real estate, private equity, private credit, timberland, and agriculture.
