Access pool makes timber hires
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Access, one of eight asset pools for the Local Government Pension Scheme, has appointed Stafford Capital Partners and JP Morgan Asset Management to handle a combined £300m of timber assets.
The roughly £40bn LGPS pool handed out the global timberland mandates after a review by Apex Investment Advisory, noting that the mandates could grow in size. At present, two of the LGPS funds that invest via Access hold timber, while the new investment comes from pension funds that did not have an allocation before.
Cllr Mark Kemp-Gee, who chairs the Access joint committee, said: “We have been exploring ways to include natural capital investments in our portfolio as we continue to diversify our private markets allocation, while also moving closer to net zero targets. Timberland ticks all these boxes, and we are delighted to have chosen two market-leading investment partners in this field for the benefit of our partner funds and members.”
Stafford invests in core timberland through the Stafford International Timberland series of funds. The strategy invests in operational timberland estates, conducting mainly off-market secondary transactions.
JPMAM, through its forestry company Campbell Global, offers a real assets strategy that provides exposure to core global timberland assets and targets a negative carbon footprint.
Access’ global timberland impact allocation will be made to the Stafford Carbon Offset Opportunity Fund – a fund that establishes new commercial timberland estates, generating a return which includes a supply of high-quality carbon offsets for clients.
Timber has become an investible asset class for large investors. In January, the Avon Pension Fund said its investment panel would begin exploring how the fund can allocate to nature-based investments such as timber, agriculture and funds targeting biodiversity. In spring, defined contribution master trust Nest’s investment team undertook a due diligence trip to North America to look at timberland.
The roughly £40bn LGPS pool handed out the global timberland mandates after a review by Apex Investment Advisory, noting that the mandates could grow in size. At present, two of the LGPS funds that invest via Access hold timber, while the new investment comes from pension funds that did not have an allocation before.
Cllr Mark Kemp-Gee, who chairs the Access joint committee, said: “We have been exploring ways to include natural capital investments in our portfolio as we continue to diversify our private markets allocation, while also moving closer to net zero targets. Timberland ticks all these boxes, and we are delighted to have chosen two market-leading investment partners in this field for the benefit of our partner funds and members.”
Stafford invests in core timberland through the Stafford International Timberland series of funds. The strategy invests in operational timberland estates, conducting mainly off-market secondary transactions.
JPMAM, through its forestry company Campbell Global, offers a real assets strategy that provides exposure to core global timberland assets and targets a negative carbon footprint.
Access’ global timberland impact allocation will be made to the Stafford Carbon Offset Opportunity Fund – a fund that establishes new commercial timberland estates, generating a return which includes a supply of high-quality carbon offsets for clients.
Timber has become an investible asset class for large investors. In January, the Avon Pension Fund said its investment panel would begin exploring how the fund can allocate to nature-based investments such as timber, agriculture and funds targeting biodiversity. In spring, defined contribution master trust Nest’s investment team undertook a due diligence trip to North America to look at timberland.
