UK-based Cibus launches $300m Australian carbon fund raise
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The news: UK-based natural capital fund manager Cibus is aiming to raise up to $300 million for a new fund that will deliver 11.25 million Australian Carbon Credit Units (ACCUs) over a 30-year time frame.
The context: The specialist sustainable agriculture and food asset manager is opening an Australian-based proprietary company and investment team led by Damon Petrie and Jeremy Alun-Jones to manage the plantations.
Cibus did not reveal where it had purchased sites to plant trees, but said they would be chosen to maximise the ratio of ACCUs per hectare of land, and that a mix of tree species would be planted.
Elsewhere, Cibus invests in food and agriculture companies through both private equity and venture capital strategies and has an investment in an Australian tree seedling company Withcott Seedlings through its Cibus Fund II.
Its private equity portfolio already includes investments in an Australian almond plantation and a producer of cell-grown plants that are used for hedgerows in Scotland.
Rest Super is an investor in Cibus Fund II, which closed in March 2024 with commitments totalling $510 million.
The source: Cibus media release
