Anew Climate, LLC announced on Wednesday (11-2-22) the acquisition of entities managed by The Forestland Group (TFG), which include a 1.7-million-acre timberland portfolio. The acquisition was completed by Blue Source Sustainable Forest Company (BSFC), a joint venture with Oak Hill Advisors, L.P. (OHA) focused on forest acquisitions and sustainable forest management. BSFC also entered into a definitive agreement to acquire additional TFG-managed entities holding an additional 200,000 timberland acres.
The transactions are valued at approximately $1.8 million (USD), representing one of the largest private conservation-focused forest investments in US history.
Anew is transitioning the newly acquired lands into sustainably managed forestland for climate mitigation. With 110,000 acres previously purchased for carbon sequestration in New York, Michigan, Tennessee, Alabama, and Mississippi, BSFC’s portfolio will exceed 1.9 million acres upon completion of all TFG-related acquisitions, making it the seventh largest private forestland owner in the United States.
The acquisition also expands the nature-based and agricultural portion of Anew’s carbon development portfolio, which includes numerous private, indigenous, and public lands, to over 5.6 million acres primarily in North America.
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