Forico is set to continue as asset manager and New Forests as investment manager of Tasmania’s largest plantation forestry estate, with confirmation that the Tasmanian Forest Estate has been acquired by a partnership of eminent Australian and global fund managers.

Australian superannuation fund UniSuper, the UK’s Pension Protection Fund (PPF) and APG Asset Management NV(APG) on behalf of its Dutch pension fund client ABP have announced the acquisition of Forico and its 170,000-hectare plantation forestry estate in Tasmania, from a New Forests managed fund.

Tasmanian Minister for Resources Felix Ellis has commented that “Tasmania’s forest sector is vibrant, sustainable and forward-looking. Forico and New Forests have been a valued part of Tasmania’s forest industry for a number of years and we are delighted that this will continue, bringing jobs and opportunity to our State.”

Evangelista (Ange) Albertini, Chief Executive Officer of Forico said, “Attracting and retaining long term investment partners in UniSuper, PPF and APG helps to secure a prosperous future for Forico and the forestry industry. It will allow us to continue to innovate, adopt market leading practices, and look at ways to add value to the natural environment.”

Attached is a media announcement from New Forests containing further details.