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TWO MILLION ACRES • TWO BILLION DOLLARS
Three months ago, it was announced that a consortium led by T. Rowe Price Group subsidiary Oak Hill Advisors paid $1.8 billion to acquire 1.7 million acres of timberland in 17 states from The Forestland Group. This standout transaction was even more noteworthy because the ultimate goal of the purchase was not to maximize timber production. Instead, carbon storage was the highest priority.
Now J.P. Morgan has followed suit. Earlier this month, J.P. Morgan Global Alternatives announced that the firm's wholly-owned timber investment manager, Campbell Global, led the acquisition of more than 250,000 productive acres of commercial timberland in the Southeast valued at half a billion dollars. “This transaction is one of the largest of its type in the past decade and builds on efforts to expand our asset class … by offering investors access to a robust carbon sequestration and timber management platform,” said Anton Pil, J.P. Morgan’s Global Head of Alternatives.
Count on The Land Report to monitor this developing story in 2023.
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