Fund manager New Forests has swooped on a portfolio of macadamia orchards in Queensland’s Bundaberg region to add to a $600 million agriculture and forestry fund it is investing out, backed by both Australia’s national green bank and several European institutional investors.
The acquisition of a six-orchard portfolio for close to $40 million completes the agriculture allocation of about 20 per cent within the $600 million fund. New Forests’s New Agriculture platform will now focus on investing the remaining 80 per cent of the fund, earmarked for forestry and infrastructure assets.
