SLM partners, an agri-investment management firm, wants to procure €50 million to invest in forestry riches from Ireland. The firm has its headquarters in London and is led by Irishman Paul McMaho. According to reports from the European Investment Bank, SLM’s plan is to have more sustainable forests from clear-fell plantatons, by introducing native broad-leaf species.
The firm wants to get finance from EIB in Luxembourg and they hoped for a first close in the first quarter of this year. The bank is now assessing the application for the €13 million.
According to information from EIB’s website, “the fund will invest in forest assets in Ireland with the aim of transforming clear-fell plantations to more sustainable continuous cover forestry. This will also involve the introduction of native broadleaf species in what today are monoculture forests of Sitka spruce. This will be supplemented by afforestation on new land when the opportunity is available."
The SLM Australia Livestock Fund, SLM's first fund, is now investing in deteriorated land for cattle and beef and they hope to improve sustainability and production of those assets with better management. Improvement of sustainability of agriculture and forestry land, capitalising on the trend toward stronger global environmental regulation and more consumer awareness about sustainability and food production are the main goals of SLM’s investment.
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