Saffery Champness advises on green fund

Posted: 23/07/2020

Saffery Champness Fund Services has advised True North Real Estate Partners (TNREP) on the creation and launch of its first fund, focusing on positive environmental impact through reforestation. 

Saffery Champness has also been appointed to provide administrative and accountancy services to the fund through its Guernsey office.

The Forestry Carbon Sequestration Fund is a Guernsey closed-ended Private Investment Fund which, through its qualification as a Green Fund, is able to use the Guernsey Green Fund designation.

The fund aims to achieve its investment objective, including reaching a carbon sequestration target of 1.65 million tonnes, through the creation of newly planted UK forestry assets. 

This will include the purchase of farmland/forestry land with the intention of planting in line with Forestry Stewardship Council standards for approval by the Forestry Commission. 

TNREP will provide advice to the fund manager in respect of the investment strategy and will work with farmers and land-owners to identify suitable sites where the land can be converted to forestry.

The fund successfully launched having reached its £30m equity target.

The Saffery Champness team was led by Saffery Champness Fund Services MD Ian Powell, supported by staff from across the firm’s tax and advisory disciplines. Carey Olsen acted as lead counsel to TNREP.

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