INVL nears €100m target for second sustainable agri fund

Lithuanian asset manager INVL is nearing its €100 million target for Sustainable Timberland and Farmland Fund II, having reached a fourth close at €81.3 million. The vehicle launched in November 2020 with a mandate to invest in Central and Eastern Europe via buy-and-leaseback deals, according to affiliate publication Agri Investor’s database.

STAFF II was preceded by the €50 million INVL Baltic Forests Fund I, which generated an annual return of 27 percent – above the targeted 8 percent, according to a statement from the firm. INVL did not disclose targeted returns for STAFF II.

“STAFF II’s forestry activity is managed in such a way that it allows forests to persist for centuries, providing multiple benefits for both people and the environment. Responsible land management helps to maintain a clean and safe operating environment, landscape and biodiversity, and also ensures the preservation of quality soils as a key fundamental,” the firm said in an emailed statement.