Green PE Firm Closes $160M African Forestry Fund

Law360, New York (January 26, 2012, 5:30 PM EST) -- The Global Environment Fund, a Maryland-based green-energy private equity firm, has finished fundraising for a $160 million sub-Saharan sustainable forestry fund, the firm announced Thursday.

The fund, called the GEF Africa Sustainable Forestry Fund, closed beyond its $150 million target and will aim to invest between $15 million and $30 million in existing forest plantations, though some investments will be made in new plantations or natural-forest concessions, according to the GEF.

The forestry fund, which began making investments in May 2010 and will continue to do...
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