JP Morgan subsidiary Campbel Global has closed it's Forest & Climate Solutions Fund II on $1.5 billion, exceeding it's $1 billion fundraising target.

The vehicle will invest in developed timberland markets, such as the US and Australia, and will use a "blended approach that will support traditional timber production and carbon sequestration," said a statement from JPMorgan Asset Management.

LPs in the vehicle European pension funds include South Yorkshire Pension Authority, insurance firms, global banks and asset managers.

Campbell Global Chief executive John Gilleland commented "We're very pleased to put our decades of experience in global timberland management to work for this group of investors interested in responsibly managed forests that generate income and value appreciation and are a positive climate solution.

JPMorgan Asset Management global head of private markets and customized solutions Jed Laskowitz added: "This strategy is a unique investment option for our clients, offering diversification from a traditional asset classes and income generation, and timberland management is a proven inflation hedge."

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