The Portuguese Forest Fund is an initiative from Lynx Asset Managers, Smart Forest and Crowe. It is a long-term fund and aims to gather 100 million investment in the Portuguese Forest.
Lisbon, October 29th, 2019 - The Portuguese Forest Fund has already been approved by the responsible authorities (CMVM) and aims to achieve an investment of 100 million euros in the Portuguese Forest.
This is a private initiative to set up a long-term investment fund in the forestry sector and is the result of a joint effort between CMVM, as supervisory body, Lynx Asset Managers, an investment fund management company, Smart Forest, as a promoter dedicated to forest management and Crowe, as specialist in the field of financial consulting.
For more than two years, a joint effort was developed between the four entities that culminated, on October 18, with the authorization to set up a specialized alternative investment fund, focused on the professional management of forest areas and on the profitability and use of endogenous resources.
Aiming to gather 100 million euros on long-term investment, mainly oriented to the installation and management of 50 thousand hectares of slow-growing and native species stands, the managers have as mission to raise capital and value a strategic resource for the country development. The term of the Portuguese Forest Fund is 20 years and may be extended to 40 years.
Similar to what happens in Northern Europe and the United States, the creation of a forest fund in Portugal emerges, in the current context, as a response to the emerging needs to address the climate change, to reorganize and enhance the national forest heritage, to recover and preserving forest ecosystems, promoting biodiversity, reducing the risk of wildfires, boosting the rural world, and the need to restore the hydrological cycle.
The high potential for the increased value of the national forest, now places it on the radar of investors and professional financial asset managers.
Smart Forest was founded in 2017 by a multidisciplinary team with over 25 years of experience in forest management, alternative investment fund management, capital markets and energy. Its mission is to contribute to ensuring the transition to a sustainable planet based on excellent forest management and the use of renewable energy sources. The purpose of the company is to provide specialized technical consulting services and promote investment in the forestry and energy sectors. Smart Forest is committed to taking care of the forest to protect natural resources and rethinking energy production to secure the future. www.smart-forest.pt
LYNX Asset Managers is an independent Management Company, majority owned by the management team. The total assets under management exceeds 600 million euros. Founded in 2008, it is dedicated to the management of Securities Investment Funds, overseen by Banco de Portugal (BdP) and the Securities Market Commission (CMVM). It is also dedicated to the management of Real Estate Investment Funds, SICAFIs and Venture Capital Funds. The company bases its success on the competence of an experienced team and the spirit of innovation, which combines to a strong, intelligent and non-conforming personality. We make strong commitments and strive to stay ahead of our time, facing the future with confidence. www.lynxassetmanagers.com
Headquartered in New York, Crowe International already has over 90 years of existence and a very unique philosophy: specialization in business areas, adapted to the value culture of each particular country or region. It occupies the eighth place in the international ranking of audit firms, a performance that derives from the degree of demand and specialization achieved. It has 4,098 partners and around 42,018 employees, representing over 216 members in around 782 cities around the world. Crowe has been in Portugal since 1998 and is represented in the cities of Lisbon and Porto. Its team is composed of experienced professionals, in the areas in which they operate and with a deep knowledge of the market. Positioning itself as a firm of excellence, its services cover the areas of Audit, Advisory, Tax and Outsourcing. www.crowe.com/en