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Stafford Capital Partners has raised US$635 million (€689 million) for its 10th Global Timberland Secondary Fund, according to a report seen by IPE Real Assets.
The company raised US$695 million in its previous fund in 2021, and in an update to investors, Stafford International Timberland “There is considerable momentum,” he said.
Like its predecessor, the fund will acquire secondary positions in existing Timberland vehicles and make co-investments.
Founded in January 2023, it has already invested over US$160 million in capital. The transaction is expected to reach initial close in March 2023 and final close in the third quarter of 2024.
The investor update also said Stafford raised US$945 million across its secondary and carbon strategies in 2023.
Commissioned by institutional investors in the UK, US, South Korea and Germany, including local authority pension schemes in the UK, the funding reflects the “growing net zero aspirations of institutional investors around the world. It shows,” he said.
Stafford Capital currently manages over $3.7 billion in assets across more than 100 underlying assets. Its Timberland Fund portfolio currently stores more than 316.8 MtCO2e of carbon and sequesters 16.6 MtCO2e of carbon each year.
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