Stafford Capital Partners has raised an initial $532m for its ninth timberland fund.

The manager said SIT IX is a continuation of the firm’s specialist timberland funds with a focus on buying secondary positions in existing timberland funds and accessing timberland co-investments.

The predecessor SIT VIII fund raised $612.5m at its final close in May 2018, exceeding the fund’s $500m target.

Stephen Addicott, Stafford Timberland Partner said: “We are very appreciative of the support from existing and new investors who recognize the resilience of the asset class and Stafford’s unique approach of gaining discounted access to timberland assets.”

Addicott said the fund has made a good start to investing this capital with five investments totaling $168m and “a strong pipeline of deals before us for consideration”.

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