Conservation | July 20, 2021

New Forests expands sustainable forestry portfolio in California and Oregon

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, July 20 – Australia-based New Forests acquires and manages forestlands for both sustainable timber production and conservation (see, “Taking an ‘impact tranche,’ Packard Foundation pushes forest fund beyond business as usual”). Its latest deal: acquiring 156,000 acres of conifer forest from Fruit Growers Supply Co., a nonprofit agricultural-supply cooperative.

The deal brings the $4.5 billion asset manager’s U.S. portfolio to $800 million. New Forests is aiming to invest $500 million in the U.S. forests over 24 months.