Binyamin Ali
Campbell Global will invest the vehicle on behalf of the defined contribution pension scheme and will not pay performance fees to the JPMorgan subsidiary.
CEO Angus Whiteley says the firm is seeing fewer timberland deal opportunities in Europe due to limited scale and high prices propped up by subsidies.
The vehicle has a €150m target and will focus on businesses concerned with planetary health.
The vehicle received a £50m commitment from the South Yorkshire Pensions Authority to hit the fundraising milestone.
The firm manages a 306,000ha portfolio that is regeneratively managed and sequestered 100,000 tonnes of CO2 while emitting 30,400 tonnes.
The firm has held a $100m first close on a strategy that promises to mobilize $5.6 for every dollar spent.
CAM has added walnuts and pistachios to a portfolio that already includes investments in almonds and macadamia.
The European Investment Fund has anchored the Article 9 impact fund, which will provide senior debt to agricultural businesses using sustainable practices.
The debut forestry fund surpassed its $200m target and will be deployed exclusively in Paraguay.
The first-time fund received backing from European Investment Fund, KfW Capital and BPI France, among others.