Stafford Capital Partners has raised an initial $532m for its ninth timberland fund.
The manager said SIT IX is a continuation of the firm鈥檚 specialist timberland funds with a focus on buying secondary positions in existing timberland funds and accessing timberland co-investments.
The predecessor SIT VIII fund raised $612.5m at its final close in May 2018, exceeding the fund鈥檚 $500m target.
Stephen Addicott, Stafford Timberland Partner said: 鈥淲e are very appreciative of the support from existing and new investors who recognize the resilience of the asset class and Stafford鈥檚 unique approach of gaining discounted access to timberland assets.鈥�
Addicott said the fund has made a good start to investing this capital with five investments totalling $168m and 鈥渁 strong pipeline of deals before us for consideration鈥�.
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