Stafford is pleased to announce the final close of Stafford International Timberland VIII Fund (SIT VIII) of USD 612.5m from investors in the UK, Europe and the US. The final close exceeded the target fund size of USD 500m.
SIT VIII is a continuation of Stafford’s specialist timberland funds with a focus on acquiring secondary positions in existing timberland funds and accessing high quality timberland co-investments.
Stephen Addicott, Stafford Timberland Partner said: “We are very appreciative of the continued support from existing investors and welcome a number of new investors into our fund. With USD 2.4bn invested in over 170 timberland assets, Stafford has the experience and knowledge to be able to deploy this capital in a timely and diligent manner.”
SIT VIII has already made three secondary investments and one co-investment, all with leading timberland managers, committing close to 21% of the fund.