Reuters reports on the Bluesource Sustainable Forest Company joint venture with Oak Hill Advisors. This $500 million investment fund will enable the direct purchase of or co-investment in forest lands that can be more sustainably managed by Bluesource for climate and societal benefit.
Oak Hill, which has more than $50 billion in assets, will finance the vast majority of the venture and Bluesource will finance the rest, said Roger Williams, the president of Bluesource. Williams said the venture would allow his company to move beyond developing projects that generate carbon credits to becoming an asset manager of forest lands.
The properties will complement the nearly 80 forest projects, over 3 million acres, from Alaska to South Carolina that we currently manage. Certain properties will be purchased directly while others will have the potential to become a co-investment alongside traditional timber managers and investors who are willing to engage in climate-oriented forestry practices over other logging methods that cause negative ecological impacts that last for generations.