ACCESS Pool appoints Stafford Capital Partners and J.P. Morgan Asset Management as Timber managers
FEATURED: The ACCESS Pool, which consists of assets totalling c.£40bn on behalf of participating Pension Funds, has appointed Stafford Capital Partners (“Stafford”) and J.P. Morgan Asset Management (JPMAM) as its global timberland managers, following a review carried out by Apex Investment Advisory.
The total initial mandate size across both components will be c. £300 million, with potential to grow thereafter. Two of the ACCESS Authorities currently invest in Timber, with the new investment coming from Authorities who previously did not have an allocation.
Global Core timberland
Stafford invests in core timberland through the Stafford International Timberland (SIT) series of funds. Now in its tenth generation, the strategy invests in operational, yielding timberland estates, accessing investments primarily through off market secondary transactions.
Meanwhile JPMAM, through its timberland investor and forestry management company Campbell Global, offers access to a real assets strategy that provides diversified exposure to core timberland assets around the word, while targeting a negative carbon footprint (SFDR Article 9).
Global impact timberland
ACCESS’ global timberland impact allocation will be made to the Stafford Carbon Offset Opportunity Fund (Stafford Carbon Fund) – a fund that establishes new commercial timberland estates, generating a return which includes a supply of high-quality carbon offsets for clients.
Cllr Mark Kemp-Gee, Chairman of the ACCESS Joint Committee, said: “We have been exploring ways to include natural capital investments in our portfolio as we continue to diversify our private markets allocation, while also moving closer to net zero targets. Timberland ticks all these boxes, and we are delighted to have chosen two market-leading investment partners in this field for the benefit of our partner funds and members.”
Angus Whiteley, CEO of Stafford Capital Partners said: “We are honoured to establish this landmark partnership with ACCESS in the timberland sector. Commercial timberland presents a unique investment opportunity which delivers uncorrelated, long-term, inflation-linked returns while making a significant contribution to the environment and natural landscape. With the award of these two mandates, we look forward to building on our successful partnership with ACCESS and its partner funds and delivering for their members.”
Angela Davis, President at Campbell Global, said: “Campbell Global is delighted to be partnering with ACCESS to add global timberland to their investment portfolio. Our innovative and evidence-based approach are well-aligned, and we look forward to using our 40-plus years’ experience managing forestland to the benefit of the ACCESS Pool. Timberland and related carbon offsets are unique investments that will offer ACCESS scheme members the ability to further diversify their portfolios while also supporting climate change mitigation and biodiversity protection.”
Patrick Thomson, EMEA CEO at J.P. Morgan Asset Management, said: “We are honoured to be building on over thirty years of collaboration with the LGPS client base through this new Core Global Timber allocation with the ACCESS Pool. Our investment strategy aligns with many of the values and objectives of the LGPS, such as income generation, as well as playing a part in the path to net zero and biodiversity conservation.”
Media enquiries:
ACCESS
Tavistock
Stafford Capital Partners
Sean Palmer
Director
Camarco
07591760844
sean.palmer@camarco.co.uk
J.P. Morgan Asset Management
Anoushaa Massouleh, Head of EMEA Media Relations
anoushaa.massouleh@jpmorgan.com
Notes for Editors
About the ACCESS Pool
ACCESS (a collaboration of Central, Eastern and Southern Shires) is made of 11 LGPS Administering Authorities: Cambridgeshire County Council; East Sussex County Council; Essex County Council; Hampshire County Council; Hertfordshire County Council; Isle of Wight Council; Kent County Council; Norfolk County Council; West Northamptonshire Council; Suffolk County Council; and West Sussex County Council.
ACCESS Authorities are committed to collaborating and have each signed an Inter Authority Agreement, setting out how they will work together in response to the Governments pooling agenda across the LGPS, and to optimise benefits and efficiencies on behalf of their individual and collective stakeholders.
As at 31 March 2024, ACCESS’ pooled assets totalled £40bn.
About Stafford Capital Partners
Stafford Capital Partners (“Stafford”) is an independent private markets investment and advisory firm with USD 7.9 billion (as at September 2023) in funds under management and advice for more than 150 institutional clients worldwide.
Founded in 2000, Stafford has a global team of 85+ professionals investing in timberland, infrastructure and sustainable private equity. Stafford is a UN PRI signatory and is committed to the Net Zero Asset Managers (NZAM) Initiative. It implements an RI Policy across all strategies. In the UK, Stafford is authorised and regulated by the Financial Conduct Authority (Firm Reference Number: 225586).
About J.P. Morgan Global Alternatives
J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With over 60 years of experience in managing alternative investments, $212 billion in assets under management and over 800 professionals (as of December 31, 2023), its strategies cover the full spectrum of alternatives: real estate, private equity, private credit, liquid alternative products, infrastructure, transport, hedge funds and forestry. From the Americas, Europe and Asia, independent alternative investment teams combine their cutting-edge expertise with J.P. Morgan’s resources, infrastructure, and global reach to achieve each client’s specific objectives. For more information: jpmorgan.com/am
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of USD 3.2 trillion (as of March 31, 2024), is a global leader in investment management. J.P. Morgan Asset Management’s clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity, and liquidity.
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorgan Chase had $4.1 trillion in assets and $337 billion in stockholders’ equity as of March 31, 2024. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
About Campbell Global
Part of J.P. Morgan Chase Asset Management, Campbell Global is a leading global investment manager 100% focused on forestland. Over a history spanning more than 40 years, Campbell Global has managed approximately 5.5 million acres (2.2 million hectares) worldwide for pension funds, foundations, and other institutional investors. As of December 31, 2023, the firm supervises approximately USD 9.1 billion and over 1.4 million acres (0.6 million hectares) in U.S., Australia, New Zealand, and Chile.