New Forests, a global investment manager of nature-based real assets and natural capital strategies, last Friday announced Mitsui & Co., Ltd (Mitsui) and Nomura Holdings, Inc (Nomura), have entered into an agreement to purchase a 100% shareholding of New Forests.
The agreement, which is subject to regulatory approval and expected to be completed by December 2022, will see Mitsui become a 49% shareholder and Nomura a 41% shareholder, with the remaining 10% shareholding retained by New Forests’ staff. Mitsui has been a shareholder in New Forests since 2016 and will increase its shareholding from approximately 23% to 49%.
Mitsui and Nomura will provide capital to support New Forests’ strategic growth initiatives and the global expansion of its investment platform. In addition, New Forests will leverage Nomura’s global distribution network particularly across Japan and more broadly in Asia.
As part of this agreement, founder, CEO and Chairman David Brand will continue with New Forests until 30 June 2025 and focus on strategic initiatives and growth opportunities.
David Brand, CEO of New Forests said, “New Forests has achieved a great deal over the past 17 years, growing institutional investment in the forestry asset class and re-imagining the investment opportunities in rural landscapes. The rising need to substantially increase investment in sustainable land use, along with increasing investor interest is creating an opportunity to accelerate the growth of New Forests. I am delighted to have found two partners in Mitsui and Nomura who share in our vision and will provide us the support to further scale our business and provide new opportunities for our clients, stakeholders and our 100 staff.”
Two representatives each from Mitsui and two from Nomura will join the New Forests board of directors, along with two independent directors and an employee nominee director.
Mitsui & Co., Ltd. (“Mitsui”) is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 129 offices in 63 countries and regions as of April 1st, 2022. For more information, visit www.mitsui.com.
Nomura is a global financial services group with an integrated network spanning over 30 countries and regions. For further information about Nomura, visit www.nomura.com
About New Forests
New Forests is a global investment manager of nature-based real assets and natural capital strategies, with AUD 7.8 billion in assets under management across 1.1 million hectares of investments. New Forests manages a diversified portfolio of sustainable timber plantations and conservation areas, carbon and conservation finance projects, agriculture, timber processing and infrastructure assets. Headquartered in Sydney, New Forests is a Certified B Corp and operates in Australia, New Zealand, Southeast Asia, Africa and the United States. For more information, please visit: www.newforests.com.au.
Source: New Forests