Sydney, Australia (31 January 2012) – New Forests Pty Limited (“New Forests”) is pleased to announce the completion of its acquisition of the Taswood softwood plantation estate on behalf of the Australia New Zealand Forest Fund (“ANZFF”).
The 46,000 hectare forestry estate will continue to be managed on Tasmanian Government owned land under a long-term Forestry Right, which provides New Forests the authority to establish, maintain, and harvest the timber plantations through 2069. The estate includes approximately 40,000 hectares of radiata pine plantations in northern Tasmania and is certified as being sustainably managed under the Australian Forestry Standard.
ANZFF is a forestry investment fund, comprising Australian and international institutional investors, and is managed by Sydney-based New Forests, an investment management firm specialising in sustainable forestry and environmental markets. New Forests currently manages approximately 325,000 hectares of timberland properties across Australia.