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Manulife Investment Management Announces Forest Climate Fund's Second Close Bringing Total Commitments Up to $334.5 Million
Manulife Investment Management Announces Forest Climate Fund's Second Close Bringing Total Commit...
About this update from Manulife Financial Corporation
[{"type":"text","content":"\n \n \n \n Manulife Investment Management Announces Forest Climate Fund's Second Close Bringing Total Commitments Up to $334.5 Million\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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n BOSTON\n \n \n ,\n \n \n April 26, 2024\n \n \n /CNW/ - Manulife Investment Management, the world's largest manager of natural capital with over\n \n $16 billion\n \n in assets under management in timberland and agriculture combined, today announced the second close of the Manulife Forest Climate Fund LP\n \n 1,2\n \n (the fund). Along with its affiliated offshore vehicles, the fund has now secured up to\n \n $334.5 million\n \n in commitments towards its\n \n $500 million\n \n targeted offering. Subsequent and final closings are expected later this year. The fund is a closed-end investment vehicle providing qualified U.S. investors and certain global institutional investors with the opportunity to promote climate change mitigation through investment in sustainably managed forests where carbon sequestration is prioritized over timber production.\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 will seek 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 intends to use carbon credits, conservation easements, value-added strategies including non-timber income generation, and l...