J.P. Morgan Asset Management acquires Campbell GlobalFriday 25 Jun 2021
Campbell Global is a recognized leader in global timberland investment and natural resource management. Based in Portland, Oregon, the firm has over three decades of experience, $5.3 billion in assets under management and manages over 1.7 million acres worldwide with over 150 employees. All employees will be retained and Campbell Global will remain headquartered in Portland. The deal will make J.P. Morgan a significant benefactor for thriving forests around the world, including in 15 U.S. states, New Zealand, Australia and Chile. Campbell Global is the investment advisor for the shareholders of OneFortyOne, a trans-Tasman-forest and forest products company with forestry and wood processing assets in South Australia and Victoria in Australia and Nelson and Marlborough in New Zealand. Carbon sequestration in forests worldwide will play an important role in carbon markets, and J.P. Morgan Asset Management expects to become an active participant in carbon offset markets as they develop. "This acquisition expands our alternatives offering and demonstrates our desire to integrate sustainability into our business in a way that is meaningful," said George Gatch, Chief Executive Officer of J.P. Morgan Asset Management. "Investing in timberland, on behalf of institutional and high net worth individuals, will allow us to apply our expertise in managing real assets to forests, which are a natural solution to many of the world's climate, biodiversity and social challenges." "We have always held that there should be no tradeoff between investing wisely and investing responsibly," said John Gilleland, Chief Executive Officer of Campbell Global. "We made our first institutional investment in timberland 35 years ago, have since planted over 536 million trees, and emerged as a leader in sustainable forestry. We look forward to continuing these efforts with J.P. Morgan. Importantly, this transaction further positions Campbell Global to serve our existing world-class clients at the highest standard." The transaction is expected to close in the third quarter. Source: Campbell Global | ||
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