New Forests has bought a 636ha portfolio of macadamia orchards and land aggregation in Australia.
The global nature-based real assets manager has acquired the asset in the Bundaberg region of Queensland on behalf of its A$600m (€362m) Australia New Zealand Landscapes and Forestry Fund (ANZLAFF).
The portfolio, to be named Bunya Orchards, comprises macadamia orchards, grazing land earmarked for greenfield macadamia development and significant areas of retained native vegetation, with additional opportunities for environmental plantings and natural capital enhancement.
David Shelton, managing director, Australia and New Zealand, and global head of investments at New Forests, said: “The asset provides exposure to a high-growth tree nut market while enabling opportunities to integrate natural capital, improve ecological outcomes and build long term value for our investors.
“The acquisition strengthens ANZLAFF’s agricultural footprint and further diversifies exposure across uncorrelated land-based asset types and geographies.”
Bruce King, director of agriculture at New Forests, said the acquisition offered greenfield development with an opportunity to focus on newer high-yielding varieties.
King told IPE Real Assets the asset would generate additional income streams from Australian carbon credit units and biodiversity offsets.
With this acquisition, he said the fund’s 20% allocation to agriculture was now fully deployed, and he expected the remaining dry powder for forestry to be invested in the coming months.
The fund is backed by capital from AP2, BVK, Australia’s Clean Energy Finance Corporation, an Australian and a German insurer.
The nut farm is the second agriculture asset in the ANZLAFF portfolio, following the August 2025 acquisition of 50% of McPhee Beef Farm, since renamed Benditi.
“We’re able to now switch our focus to developing that pipeline of opportunities for the New Agriculture Landscape Opportunity Fund (NALOF),” King added.
Unlike ANZLAFF, NALOF, which is currently raising capital, has an 80% allocation to agriculture and 20% to forestry.
An earlier version of this story incorrectly stated that New Forests acquired the portfolio for A$600m. In fact, the portfolio was purchased on behalf of the Australia New Zealand Landscapes and Forestry Fund, which has a total value of A$600m, while the specific transaction price remains undisclosed.
To read the latest IPE Real Assets magazine click here.
