Astarte Capital Partners has invested $30m (€25m) as seed capital in a new Latin America forestry investment fund launched with sustainable forestry management firm SilviPar.
The SA Impact Forestry Fund (SAIFF), which seeks to raise $150m to $200m, has also been seeded $30m worth of assets provided by SilviPar. The fund will have an immediate focus on Paraguay.
SAIFF’s focus will be on acquiring low productivity farmland, suitable for eucalyptus and with limited alternative uses, converting it into a sustainable, cost-efficient forestry portfolio.
Astarte said it will act as SAIFF’s investment advisor, responsible for fund operations and marketing. SilviPar will manage the portfolio, with responsibility for the forestry strategy and day-to-day operations.
Astarte said the fund expects to buy, develop and manage new and existing forest assets at scale.
“SAIFF will focus on acquiring low productivity farmland, suitable for forestation and with limited alternative uses, converting it into a sustainable, cost-efficient forestry portfolio,” Astarte said.
Teresa Farmaki and Stavros Siokos, co-founders of Astarte Capital Partners, said: “We are delighted to be partnering with SilviPar. The team has deep expertise in the forestry space and operations of the highest quality and standards.”
Martin Forsen, CEO of SilviPar, said: “Together with Astarte’s impressive team and network, the new platform will allow SilviPar to apply its strong organisational expertise and know-how to help SAIFF reach its full potential.”
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