Stafford Capital Partners’ latest timberland fund has exceeded its fundraising target by 22% at the final close.
Stafford International Timberland VIII Fund (SIT VIII) raised $612.5m (€698.8m) from investors in the UK, Europe and the US. The final close exceeded the target fund size of $500m.
IPE Real Assets reported last year that Swiss pension fund ASGA Pensionskasse awarded Stafford a mandate to invest $100m in timberland and agriculture. The mandate includes a commitment to Stafford’s latest timberland fund, co-investments in timber and a separate account for agriculture investments.
SIT VIII has already made three secondary investments and one co-investment, all with leading timberland managers, committing close to 21% of the fund, the investment manager said.
Stafford said SIT VIII is a continuation of the firm’s specialist timberland funds with a focus on acquiring secondary positions in existing timberland funds and accessing timberland co-investments.
Stephen Addicott, Stafford Timberland Partner, said: “We are very appreciative of the continued support from existing investors and welcome a number of new investors into our fund.
“With $2.4bn invested in over 170 timberland assets, Stafford has the experience and knowledge to be able to deploy this capital in a timely and diligent manner.”
Founded in 2000, Stafford currently has $5.4bn under management and advice from over 75 institutional investors across Europe, the US and Australia, providing investment management and advisory services in alternative assets.