New Forests, a global investment manager of nature-based real assets and natural capital strategies, has been investing in Southeast Asia for over a decade and has an office in Singapore. In March 2022, New Forests announced the first close of TAFF2 with US$120 million of capital commitments. TAFF2 aims to capitalise on the long-term investment opportunities in sustainable plantation forestry in Southeast Asia. It is New Forests’ second fund dedicated to sustainable forestry in Southeast Asia after closing the Tropical Asia Forest Fund (TAFF) in 2013. 

Apex will provide fund administration services to TAFF2, including share registry and KYC/AML solutions. Fund administration is at the core of Apex’s single-source solution, delivering timely, accurate and independent services, underpinned by market leading technology platforms. Apex will provide New Forests with access to eFront to enhance efficiency and reporting transparency through a robust and scalable platform.  

Investors in the first close include Asian Development Bank, the Australian Government, David and Lucile Packard Foundation, Sumitomo Mitsui Trust Bank, Temasek and TotalEnergies. New Forests will continue to raise capital for TAFF2 throughout 2022 and anticipates a second close later this year, with a goal of raising US$300 million. 
Andrea Gallenca, Head of Private Market – Sales, Australia at Apex Group comments: “We are delighted to partner with New Forests, who are undertaking pioneering work in the growing nature-based real assets space, and to support their innovative role in driving sustainable forestry. By providing a suite of robust, flexible and reliable fund administration solutions, we will allow the New Forests team to focus on the job at hand: raising capital ahead of the Fund’s second close and generating prosperity for both people and planet as they accelerate the transition to a sustainable future.” 

This announcement follows Apex’s continued role as the administrator of choice for environmentally-driven real assets funds, with existing clients including Federation Asset Management’s Sustainable Australian Real Asset Trust and INVL Asset Management’s Sustainable Timberland and Farmland Fund II.