True North Real Estate Partners (TNREP) has launched its first fund, focusing on positive environmental impact through re-forestation.
The fund successfully launched having achieved reached its £30 million (€33 million/$39 million) equity target. Saffery Champness Fund Services advised the firm and was appointed to provide administrative and accountancy services to the fund through its Guernsey office.
The Forestry Carbon Sequestration Fund is a Guernsey closed-end private investment fund. The fund must conform to strict guidelines (The Guernsey Green Fund Rules, 2018) to achieve this designation and will aim to achieve its investment objective, including reaching a carbon sequestration target of 1.65 million tons, through the creation of newly planted U.K. forestry assets. This will include the purchase of farmland/forestry land with the intention of forestry planting in line with Forestry Stewardship Council standards for approval by the Forestry Commission. TNREP
