Tallahassee (Fla.) Pension Plan commits to two timber funds

The $1.6 billion Tallahassee (Fla.) Pension Plan has invested $45 million in two timber funds.

The pension fund made a $30 million commitment to Stafford International Timberland VIII (SIT VIII), a timber fund of funds managed by Stafford Timberland.

The international timberland fund focuses on secondaries, co-investments, and commitments to existing funds and fund restructurings.

SIT VIII launched in August 2016 with a $500 million target. It is currently fundraising from institutional investors across Asia, Europe and North America.

The previous fund in the series — Stafford International Timberland Fund VII —held a final close on $484 million in May 2015, raising $84 million more than its $400 million target.

Stafford Timberland currently manages timber investments in Australia, Brazil, Canada, Central America, Chile, New Zealand, the United States and Uruguay.

Tallahassee (Fla.) Pension Plan also made a $15 million commitment to Mol