Founded in 2005, we offer institutional investors targeted opportunities in the Asia-Pacific region and the United States and have more than AUD 4.5 billion in assets under management globally. Our assets include sustainable timber plantations, rural land, and conservation investments related to ecosystem restoration and protection. New Forests focuses on managing our clients’ assets for a future in which landscapes will encompass both production and conservation values. New Forests manages more than 780,000 hectares of land and forests and is headquartered in Sydney with offices in San Francisco, Singapore, and New Zealand.
New Forests’ investment strategies take into account a long-term view of economic and market trends and emphasise positive environmental, social, and development outcomes. We concentrate on buying well and then steadily adding value through productivity enhancements, market development, and a focus on commercial management.
Timberland investment in Australia and New Zealand offers access to mature timber markets, well-established forestry management systems, and new opportunities from increasing Asian demand for wood products. Investors can be exposed to Asian growth while investing in a stable, low-risk business environment. New Forests is the largest timberland investment manager in Australia and has operated in New Zealand since 2005.
Tropical Southeast Asia is an emerging market for sustainable plantation forestry investment by institutional investors. Our Southeast Asian investment strategy focuses on certified plantation forestry with an emphasis on technological and silvicultural improvements and a rigorous approach to environmental and social values and good governance. With an eye toward future growth, New Forests manages the first dedicated institutional timberland fund in Southeast Asia.
Forestry investment in the United States has evolved beyond traditional timber management to also encompass returns driven by conservation management strategies and the valuation of ecosystem services in growing environmental markets. New Forests’ US business focuses on strategies related to carbon forestry and conservation finance. We established the first institutional fund investing in both forest carbon and mitigation banking and have developed additional investment products that build on our track record.
Australia New Zealand Forest Fund 3 launched with AUD 660 million in capital commitments for continued investment in the Australia New Zealand region
Launched subsidiary New Forests Timber Products to market and sell Australian hardwood chip
Completed the final close of the Australia New Zealand Forest Fund 2 with commitments of AUD 707 million
Completed final close of the Tropical Asia Forest Fund, the first dedicated institutional forestry fund in Southeast Asia
Closed our first regional timberland investment fund, the AUD 490 million Australia New Zealand Forest Fund
Launched Forest Carbon Partners, an investment vehicle to supply the California carbon market with high-quality forest carbon offsets
Launched the Eco Products Fund in a JV partnership
Established subsidiary New Forests Asia to manage assets and grow institutional interest in forestry investment in the Southeast Asian region.
New Forests founded with headquarters in Sydney
Opened US subsidiary, New Forests Inc., to lead investments in US environmental markets
While institutional investment in timberland and ecosystem services expands, the nature of the forest sector is evolving. Investors need to navigate a maturing asset class and position their timberland portfolio to benefit from shifts in market conditions and competitive dynamics. Explore the key forestry markets in which New Forests invests and operates by clicking the interactive icons.
Australia is a net importer of timber products, consuming nearly all of its domestic softwood supply for construction and housing.
New Zealand exports over 75% of its production to China, with the rest sold elsewhere in the Asia-Pacific region.
Softwood grown in the Southern Hemisphere is more productive than in the Northern Hemisphere, where commercial softwood deficits are increasing.
The pulp and paper sector uses over 40% of all industrial wood traded globally, and paper use is linked with per capita GDP. Australia, Indonesia, Thailand, and Vietnam account for the majority of woodchip exports to Japan and China. This is primarily hardwood chips, but some softwood chips are also traded.
Australian blue gum plantations provide the highest yielding pulping material in the world. The future of the Asian pulp and paper industry depends on high-quality, technically managed, FSC certified plantation supply.
The supply of feature-grade timbers from natural forests has sharply declined. Yet demand for such timber is rising due to the growth and urbanisation of the Asian middle class and aging populations in developing and mature economies.
The future of Southeast Asian forestry will be based on a shift to sustainably-managed, high-quality timber plantations. The primary plantations species in the region are teak, rubberwood, acacias, mahoganies, and eucalypts.
Regulated environmental markets in the US for carbon and mitigation banking are leading to new investment opportunities in forestry and land management. These impact investments create conservation outcomes and commercial returns, and innovative business models are now being replicated in the Asia-Pacific region.
Renewable energy demand also provides new market opportunities for wood waste, residues, and woodchip through biomass and biofuel markets. Fast-growing tree plantations can provide a dedicated source for woody biomass, and wood waste is used in bioenergy markets, which are developing in Australia, New Zealand, and throughout Asia.
David Brand founded New Forests in 2005 and leads the company’s investment programs. He is a member of New Forests’ Board of Directors and is the Chair of the company’s Investment Committees. David has over 30 years’ experience in timberland investment, forest management, science, and public policy. David is dedicated to innovative, responsible investment strategies in the forest sector and associated assets, including infrastructure, bioenergy, and environmental markets. Previously, David was responsible for investment programs that integrated timber management with emerging environmental market opportunities at Hancock Natural Resources Group (HNRG). Prior to joining HNRG, David was the Executive General Manager of State Forests of NSW where he led pioneering transactions in the commercial development of environmental markets. From 1985-1995 David worked with the Canadian Forest Service as a scientist, director of scientific programs, and ultimately as national Director-General of Science and Sustainable Development. He serves on the Board of Directors of the Washington, DC-based non-governmental organisation Forest Trends and on the Board of Trustees of Bangkok-based Intergovernmental Organisation, The Centre for People and Forests. David has a PhD from the University of British Columbia and a Bachelor of Science in Forestry from the University of Toronto in Canada.
Margaret Cole is responsible for oversight of all legal, governance, risk, and compliance functions for New Forests. In this role she leads New Forests’ team of legal, governance, risk, and compliance professionals to provide services across the company’s international funds management business. Margaret has represented lenders and investors in emerging and developed markets worldwide and has also worked as counsel at the International Finance Corporation in Washington from 1991 until July 1995. She was a partner with international law firm White & Case from 1995-2005 and again from 2010-2015, working in London, Bangkok, Singapore, and Abu Dhabi. From 2005 until 2010, she was General Counsel of an internationally active principal investment and asset management company in the infrastructure, operating leasing, real estate, and corporate finance sectors. Prior to joining New Forests, Margaret was a partner with international law firm Pinsent Masons, based in Sydney. Margaret is a Graduate of the Australian Institute of Company Directors (GAICD), Member of the New York Bar, Solicitor, England and Wales, and a Member of the NSW Law Society.
Radha Kuppalli leads New Forests’ Investor Services business unit. Her oversight includes product development and communication of New Forests’ investment strategies in the institutional investment market; integration of responsible investment and ESG innovations into investment strategy; client relations and funds marketing; brand stewardship and thought leadership to place New Forests as a leading investment manager in the forestry sector; and institutional investment and forestry markets research. She is a member of the company’s Executive Committee and is a member of various Investment Committees. Radha has been with New Forests since 2006. Her 20-year career has been focused on driving capital markets toward investing in climate change solutions and sustainable development. Radha has a Bachelor of Arts in International Studies and Economic Theory from American University in Washington, D.C., and an MBA and master’s degree in Environmental Management from Yale University’s School of Management and School of Forestry and Environmental Studies. She is on the Advisory Board of the Center for Business and Environment at Yale University and is an associate of the Yale World Fellows Program. She is also an alumna of the Junior Fellows Program of the Carnegie Endowment for International Peace.
Mark Rogers is responsible for managing the Australia-New Zealand business and overseeing the investments in ANZFF and ANZFF2 and the deployment of ANZFF3. He manages a team of dedicated professionals in forestry operations, acquisitions, and financial analytics for Australia New Zealand with a key focus on clients service. He has nearly 20 years experience in real asset sales and acquisition, regulation, greenfields project development, and finance. Mark sits on a number of New Forests’ Investment Committees and operating company boards. He has also had extensive experience as a Non-Executive Director on numerous other real asset companies (such as Anglian Water, Electricity North West, and Hazelwood Power Corporation). Mark has a Bachelor of Arts, a Bachelor of Economics, and a Masters of Law from the Australian National University in Australia and is a graduate member of the Australian Institute of Company Directors.
Gavin Le Roux is CFO for the New Forests group of companies. He oversees New Forests’ finance and fund administration functions, including fund and client reporting, corporate financial reporting, and financial administration. Since 2006, he has successfully grown New Forests’ corporate and funds financial systems, as the company has taken on more clients and offered a greater number of fund products in multiple jurisdictions. Gavin has over 15 years of experience in commercial and chartered accounting in South Africa, New Zealand, and Australia. He is a Chartered Accountant (South Africa) and has a Bachelor of Commerce (Honours) degree from the University of Natal in South Africa and a Master of Environmental Studies from Macquarie University in Sydney. Gavin is a graduate member of the Australian Institute of Company Directors.
Geoffrey Seeto oversees New Forests’ timberland investment program in Southeast Asia, with 20 years’ experience in financial services, principally in private equity in the infrastructure, natural resources, and energy sectors. He is an experienced investor in the Asian region, having led, originated, and executed a wide range of transactions in various regulatory regimes. He has completed deals in Cambodia, the Philippines, Thailand, Laos, Malaysia, Singapore, Indonesia, and China. Outside of Asia, he has worked in North America, Europe, and Australia. Geoffrey was previously at KPMG, where he was Partner, Asia Infrastructure Markets. Geoffrey was also formerly Managing Director and Head of Investments for the China-ASEAN Investments Fund from 2009-2014 and has held senior positions investing in infrastructure for Babcock & Brown and ABN AMRO. Geoffrey has a bachelor’s degree in Economics and a Master of Laws from the University of Sydney.
Brian Shillinglaw leads New Forests’ US timberland and environmental market investment strategies. Brian’s expertise includes real assets and environmental market fund management, with a focus on the use of conservation finance techniques in real assets investment. His academic background includes a bachelor’s degree in Social Studies from Harvard University, a JD from Stanford Law School, a Master of Science from the Interdisciplinary Program on Environment and Resources at Stanford University, and doctoral research in historical ecology at Yale University.
At the nexus of climate change, sustainable livelihoods, natural resource use, and ecosystem services, the forestry asset class provides clear opportunities for SDG investing. In fact, by applying a long-term horizon and implementing responsible investment – where environmental, social, and corporate governance issues are accounted for in investment decision-making – forestry investors will find an alignment of their commercial interests with enhancing outcomes that support sustainable development. This opportunity is particularly compelling in the forestry sector of Southeast Asia.Read Full Report
The Forest Stewardship Council (FSC®) General Assembly convened in October 2017 in Vancouver, Canada for a week of strategic planning, debate, and voting, with over 700 delegates from more than 80 countries participating to shape the future of responsible forest management.
This briefing note provides an update on some of the key discussion areas and outcomes from the FSC General Assembly (FSC GA), focusing on issue areas that New Forests believes may present either challenges or opportunities for forestry investment in the Asia-Pacific region and United States.Read Full Report
New Forests hosted a unique gathering at its Forests as a Climate Solution investment symposium with diverse participation from more than 100 investors, NGOs, government, and businesses active in the development and promotion of forestry solutions. This event summary reviews key themes, topics, and inspirations from the symposium. The event was hosted by New Forests on 16 May 2017 in San Francisco, California.Read Full Report
Responsible investment and sustainable management of land and natural resources are at the centre of New Forests' investment philosophy and corporate culture. We are committed to this management approach not only for risk management purposes but also because of commercial opportunities associated with innovative approaches to sustainable forestry management. In seeking to be a responsible investor, New Forests is committed to a set of principles and criteria that ensure our investments are aligned with the interests of the communities where we operate and with the needs of our clients.
New Forests has a Responsible Investment Policy and operates a company-wide Social and Environmental Management System (SEMS) designed to systematically identify, manage, and report on social and environmental issues and potential impacts of our investments. The SEMS ensures a consistent approach to social and environmental management across all investment activities and enables monitoring of performance, operational and management controls, and continual improvement. We report on our responsible investment activities through our annual sustainability reports and as a signatory of the Principles for Responsible Investment.
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