JP Morgan Asset Management’s forest management and timberland investing business has acquired over $500m (€459m) worth of commercial timberland in the US.
JP Morgan’s global alternative investment arm said institutional investors advised by Campbell Global have led the acquisition of over 250,000 productive acres of commercial timberland across three properties in the Southeastern US.
The properties will be continuously managed for both carbon capture and timber production to meet growing demand for sustainable building products and other uses, the manager said.
The assets include over 18m metric tons of stored CO2 equivalents, around 120m standing trees and over 250,000 acres of diverse wildlife habitat for recreational pursuits.
John Gilleland, CEO of Campbell Global, said: “These acquisitions will give our clients access to sustainably managed forests that leverage our more than 40 years’ experience in timberland management.”
Anton Pil, the global head of JP Morgan Global Alternatives, said: “This transaction is one of the largest of its type in the past decade and builds on efforts to expand our asset class offering across alternatives by offering investors access to a robust carbon sequestration and timber management platform.
“We are committed to harnessing the extensive forest management expertise of Campbell Global to offer our clients the unique ESG benefits associated with timberland assets.”
JP Morgan acquired Campbell Global in 2021. Based in Portland, Oregon Campbell Global has managed more than 5m acres worldwide for pension funds, foundations and other institutional investors since it was established in 1981.
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