About This Fund
SA Impact Forestry Fund (SAIFF) is a South America-focused sustainable forestry impact fund managed by Astarte Capital Partners LLP, a London-based impact investment manager, in partnership with SilviPar AB, a Stockholm-based forestry operations specialist with extensive experience in Paraguay. The fund targets the conversion of degraded grazing land and low-productivity farmland in Paraguay into sustainably managed eucalyptus plantations and permanent conservation reserves, generating timber revenues, carbon credits, and measurable biodiversity co-benefits. The fund achieved a final close of US$325.3 million in April 2024, substantially oversubscribed against an original target of US$150–200 million, attracting development finance institutions and climate-focused investors from more than 30 countries and five continents, with a 2021 vintage and PitchBook fund ID 19017-10F.
The investment strategy centers on acquiring land in Paraguay's Chaco region and southern agricultural zones, transforming degraded properties into FSC-certified eucalyptus plantations for wood fiber and pulp markets, while permanently reserving at least 25% of total land for conservation. This conservation component has created what Astarte describes as Paraguay's largest private grassland conservation park, actively monitoring more than 70 protected species. Carbon sequestration is a core value driver, with SAIFF targeting over 18 million tonnes of CO2 removal over the fund term, supported by a BeZero Carbon pre-rating of BBB with 'Very Low' execution risk — the highest confidence tier BeZero assigns. The fund is positioned for cross-border carbon credit transfers under Paraguay's Article 6 bilateral agreement with Singapore, signed in 2025.
As of March 2026, the fund holds approximately 127,000 hectares under control, with over 34,000 hectares planted and more than 12 million trees added annually, against a target of 80,000 planted hectares and 60 million trees. Approximately 35,000 hectares of conservation land have been established. Disclosed investors include FMO (US$20M), IFU/Impact Fund Denmark (US$20M), CAF Development Bank of Latin America (up to US$15M), GenZero (Temasek-linked), and the Environmental Agency Pension Fund (UK). The fund has won Agri Investor's Global Impact Fund Manager of the Year in both 2023 and 2024, and Private Equity Wire's Best ESG Fund: Emerging Markets in 2023.