Astarte Capital Partners and Silvipar have raised $325.3m (€306m) for their Latin America forestry investment fund, exceeding the fund’s initial $200m target.
The Silvipar Astarte Impact Forestry Fund (SAIFF), backed by investors from over 25 countries across five continents, is targeting a portfolio of more than 80,000 hectares where approximately 60m trees will be planted.
In January 2021, Astarte Capital invested $30m as seed capital in the forestry investment fund launched with sustainable forestry management firm SilviPar. SAIFF, which has an immediate focus on Paraguay, was also seeded with $30m worth of assets provided by SilviPar.
At the time, Astarte said it would act as SAIFF’s investment adviser, responsible for fund operations and marketing. SilviPar will manage the portfolio, with responsibility for the forestry strategy and day-to-day operations.
Teresa Farmaki, co-founder and managing partner of Astarte Capital Partners, said: “We are thrilled to announce the successful closure of our forest fund, significantly surpassing our target expectations. This achievement reflects not only the confidence investors have placed in our vision but also their recognition for our strong commitments to environmental and social stewardship.
“Each dollar invested is being translated into tangible impact, supporting local communities, safeguarding biodiversity and combating climate change.”
Martin Forsen, chairman of forestry manager SilviPar, said: “In a world increasingly cognisant of the need for biodegradable and sustainable alternatives, wood emerges as the premier choice among biobased materials, poised to supplant conventional, fossil-based resources.
“By adhering to the highest international sustainability standards in forest and land management, we are not only nurturing local communities and preserving the environment but also cultivating one of the most competitive and sustainable products on a global scale.”
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