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Manulife Investment Management Announces Close of $480 million Forest Climate Fund
Manulife Investment Management Announces Close of $480 million Forest Climate Fund Cana...
About this update from Manulife Financial Corporation
[{"type":"text","content":"\n\n\n\n Manulife Investment Management Announces Close of $480 million Forest Climate Fund\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n BOSTON\n \n\n ,\n \n\n Jan. 27, 2025\n \n\n /CNW/ - Manulife Investment Management, the leading timberland investment manager in the world, with more than five million acres under management, today announced the third and final close of Manulife Forest Climate Fund LP\n \n 1,2\n \n (the fund). Along with its affiliated offshore vehicles, the fund has closed with\n \n $480.1 million\n \n in commitments from a diverse mix of investors including qualified U.S. investors, corporates and global institutional investors interested in the opportunity to promote climate change mitigation through investment in sustainably managed forests where carbon sequestration is prioritized over timber production.\n \n\n \"We are excited to announce this milestone for the Manulife Forest Climate Fund and have seen strong interest in the forest climate strategy from a broad base of global investors, further highlighting the acceptance and growing use of forestland as a climate change mitigation tool that has added new dimensions to timberland investment,\" said\n \n Tom Sarno\n \n , global head of timberland investments, Manulife Investment Management.\n \n\n The Manulife Forest Climate Fund seeks to provide investors with an opportunity to own a diversified portfolio of sustainably-managed forestland assets where carbon is the primary value driver. The fund prioritizes climate change mitigation through sustainably-managed forests, aiming to sequester over 6 million tons of carbon dioxide over the fund term. The fund will look to deliver durable, high-quality carbon credits to investors and annual optionality for in-kind carbon credit distributions or offset sales.\n \n 3\n \n An additional part of this strategy includes establishing new forests through afforestation or reforestation to generate high-quality carbon credits and long-term sustainable timber value. The fund aims to maximize total return whil...