natural capital

The firm intends to return to market with the second fund in its regenerative agriculture series in 2026.

The French alternative investments manager says commitments from IFC, Proparco and DEG point to opportunities for public-private partnerships in climate and biodiversity investments.

The firm raised just over half of its €1bn target, according to its quarterly results.

The Hague-headquartered firm is aiming to hold a first close next year, New Private Markets understands.

Co-founder Nick Dilks says allocation and liquidity challenges kept some LPs from backing the vehicle, which pursues large-scale mitigation, biodiversity and habitat restoration projects.

The firm has framed its targets in terms of credit cost price, rather than financial return, founder Rob Appleby and investment director Damon Petrie told NPM.

As the investment manager unveils another natural investment, head of natural capital and impact Alexandre Martin-Min explains its approach to building a portfolio.

The Meldora platform, managed by Gunn Agri Partners, will produce carbon credits backed by an offtake deal with mining group Rio Tinto.

The vehicle will make investments in areas such as afforestation and sustainable land use in Asia, Latin America and Africa.

How are opportunities to generate revenues from ARR credits changing how managers think about forestry?