J.P. Morgan Asset Management announced the close of Campbell Global's Forest & Climate Solutions Fund II at $1.5 billion, exceeding its fundraising target. The fund launched in 2022 with a fundraising target of $1 billion and was the first fund launched following J.P. Morgan's acquisition of Campbell Global in 2021. In addition to the fund, Campbell Global also closed several separate account mandates, bringing the total capital raise to $2.3 billion.
"We're very pleased to put our decades of experience in global timberland management to work for this quality group of investors interested in responsibly managed forests that generate income and value-appreciation and are a positive climate solution. 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.
The global fund leverages Campbell Global's expertise managing commercial forestland across OECD regions. It uses a blended approach that will support traditional timber production and carbon sequestration and offers the benefits of nature-based carbon removal and storage, biodiversity and other related benefits. Commitments in the fund include qualified U.S. investors, international banks, European pensions, insurance entities and asset managers.
The Forest & Climate Solutions Fund II currently holds three unique timberland properties totaling ~212,000 acres (~87,700 hectares) located in the U.S. Pacific Northwest and U.S. South, with additional capital to deploy. The properties are 100% managed in accordance with sustainable forestry initiative standards, designed to protect the diverse wildlife and riparian forests across the properties while being continuously managed for both carbon capture and timber production to meet growing demand for sustainable building products and other uses.
Acquired by J.P. Morgan Asset Management in 2021, Campbell Global, LLC is a worldwide investment manager focused on timberland. Based in Portland, Oregon Campbell Global is recognized as an authority on both forest management and timberland investing, with over four decades of experience in timberland management and value creation.
