TREE.L Regulatory News (TREE)

6 Mar 2007 09:11

Cambium Global Timberland Limited06 March 2007 Cambium Global Timberland Limited 6th March 2007 Cambium Global Timberland Limited launches on AIM Cambium Global Timberland Limited ("Cambium"), a fund established to invest in aglobal portfolio of forestry based properties, today announces its flotation andthe first day of dealings on the AIM market of the London Stock Exchange and onthe Channel Islands Stock Exchange (CISX). Teather & Greenwood acted as placingagent and nominated adviser for the placing, which has raised £104 millionbefore expenses through the issue of ordinary shares at 100p. Incorporated in Jersey, Cambium will seek to invest primarily in forestry assetswhich are or can be managed on an environmentally and socially sustainablebasis. The investment strategy includes seeking to exploit the environmentaloption values of forests, including the sale of carbon credits. Cambium will aim to establish a portfolio comprising geographically diverseassets located both in mature and developing markets, initially targetinginvestments in North and South America and the Asia-Pacific region, and otherregions on an opportunistic basis. The strategy is to achieve superior totalreturns to investors by establishing an optimised portfolio of timberlandproperties and timberland related investments diversified by location, age classand species. Cambium will be managed by CP Cogent Asset Management LP and advised by NewForests Advisory Pty Limited. CP Cogent Asset Management LP, which is part of the Cogent Partners, LP group,an independent investment bank specialising in alternative assets and based inDallas, New York, London and Tokyo, has been appointed to act as the globalasset manager for Cambium's portfolio of assets. Cogent Asset Management is headed by Colin McGrady, a founding partner of CogentLP. Colin is a director of Cogent GP, LLC and Cogent Partners Investment, LLC.He currently serves on the investment committee and the risk committee ofPrimeEdge, a securitised private equity vehicle. Prior to co-founding Cogent,Colin was a member of the eight person investment committee at The CrossroadsGroup, a private equity fund of funds in Dallas, Texas. Matthew Haertzen CFA, Cogent's Chief Investment Officer for Timberland, wasrecruited from the State of Idaho Endowment Fund where he was an investmentmanager and investment representative on the real asset committee setting risk,return and portfolio structure for the $2 billion Idaho real asset portfoliocomprising 90 per cent. timberland investments. New Forests Pty of Australia, headed by David Brand, has been retained as globaladvisors on timber and environmental option value. New Forests is a forestryinvestment management and advisory services firm managing forestry assets inAustralia, New Zealand and Asia-Pacific. Contacts: Teather & Greenwood Paul Fincham +44 20 7426 9000 Cogent Colin McGrady Matt Haertzen +214 871 5400 Cherry Hughes +44 7736 246 065 This announcement does not constitute or form any part of an offer or invitationto sell or issue, or any solicitation of an offer to purchase or subscribe for,any shares in Cambium, nor shall it or any part of it, or the fact of itsdistribution, form the basis of, or be relied on in connection with, anycontract thereof. The contents of this announcement have not been approved byany authorised person and recipients of this announcement who intend to purchaseor subscribe for shares in Cambium following publication of an admissiondocument in final form are reminded that any such purchase or subscription mayonly be made on the basis of the information contained in the admissiondocument. Accordingly, no reliance may be placed for any purpose whatsoever onthe information contained in this announcement or on its completeness. Norepresentation or warranty, express or implied, is given by Cambium, itsdirectors, Cogent, New Forests, Teather & Greenwood or any other professionaladviser as to the accuracy or completeness of the information and opinionscontained in this announcement and no liability is accepted for the same. This information is provided by RNS The company news service from the London Stock Exchange