JP Morgan Asset Management has acquired forest management and timberland investing company Campbell Global from BrightSphere Investment for an undisclosed sum.
Portland, Oregon based Campbell has $5.3bn in assets under management and manages over 1.7 million acres worldwide with over 150 employees.
Under the agreement, all Campbell employees will remain with the firm, which will continue to be headquartered in Portland.
Campbell Global CEO John Gilleland remarked that the deal ‘further positions Campbell Global to serve our existing world-class clients at the highest standard’.
JP Morgan noted that the deal is line with its effort to directly impact the transition to a low-carbon economy and offer ESG-minded investment opportunities in connection with climate, conservation and biodiversity.
The deal expected to poise the investment giant as a significant benefactor for thriving forests globally, including in 15 US states, New Zealand, Australia, and Chile.
JP Morgan Asset Management CEO George Gatch remarked that the acquisition expands the firm’s alternatives offering.
The investment offering will be part of JP Morgan’s $168bn Global Alternatives franchise.
JP Morgan Global Alternatives global head Anton Pil commented: “Acquiring Campbell Global provides us with an opportunity to strengthen and diversify our ESG focus, including building a robust carbon sequestration platform.
“Timber investing further enhances our asset class offerings in our alternatives business, ultimately passing along the unique benefits of forest management to our clients. Our knowledge of real estate and transport markets, in particular, is expected to provide opportunities to optimise the usage of timber and wood products more vertically.”
Earlier this month, JP Morgan Asset Management launched JP Morgan Private Capital to offer customised solutions for early and growth stage companies across the capital structure.