Global investment manager for nature-based real assets New Forests has selected Apex to provide fund services to its Tropical Asia Forest Fund 2 (TAFF2).
Apex will provide fund administration services to TAFF2, including share registry and know your customer and anti-money laundering solutions.
TAFF2 aims to capitalise on the long-term investment opportunities in sustainable plantation forestry in Southeast Asia.
The TAFF2 is New Forests’ second fund dedicated to sustainable forestry in Southeast Asia after closing the Tropical Asia Forest Fund in 2013.
This month, New Forests announced the first close of TAFF2 with US$120 million of capital commitments.
Investors in the first close include Asian Development Bank, the Australian Government, David and Lucile Packard Foundation, Sumitomo Mitsui Trust Bank, Temasek and TotalEnergies.
New Forests will continue to raise capital for TAFF2 throughout 2022 and anticipates a second close later this year, with a goal of raising $300 million.
New Forests has been investing in Southeast Asia for more than a decade and has an office in Singapore.
Andrea Gallenca, head of private market – sales, Australia at Apex Group, comments: “We are delighted to partner with New Forests, who are undertaking pioneering work in the growing nature-based real assets space, and to support their innovative role in driving sustainable forestry.”
She adds: “By providing a suite of robust, flexible and reliable fund administration solutions, we will allow the New Forests team to focus on the job at hand: raising capital ahead of the fund’s second close and generating prosperity for both people and planet as they accelerate the transition to a sustainable future.”
