About This Fund
The New Agriculture Landscape Opportunities Fund (NALOF) is a 12-year closed-end real assets fund managed by New Agriculture, the dedicated agricultural investment division of New Forests Asset Management, a specialist natural capital investment manager founded in 2005 and headquartered in Sydney, Australia. Targeting A$750 million in institutional capital, NALOF began raising in April 2025 and expected its first close in Q1 2026. The fund is built on the Lawson Grains portfolio — a 100,000-hectare broadacre cropping aggregation in New South Wales that New Forests assembled when New Agriculture was formally launched in August 2022 as a standalone agricultural investment platform. New Agriculture managed over A$1.5 billion in agricultural assets across 3.1 million hectares as of the fund launch announcement.
NALOF deploys a whole-of-landscape investment approach that treats agricultural land, environmental markets, and natural capital as complementary revenue streams within a single real-asset strategy. The fund acquires and actively manages diversified agricultural properties across Australia and New Zealand — including broadacre cropping, beef and sheep livestock operations, and irrigated horticulture — while simultaneously developing environmental market projects eligible under the Australian Carbon Credit Unit (ACCU) framework, biodiversity certificates, renewable energy siting opportunities, and conservation covenants on properties with significant habitat or water catchment attributes. This multi-revenue-stream structure is designed to generate a targeted internal rate of return of 9 to 11 per cent, blending traditional agricultural cash yields with environmental market income to enhance risk-adjusted performance relative to single-use farmland vehicles, while contributing to measurable landscape restoration and decarbonisation outcomes.
New Forests Asset Management has two decades of experience in natural capital investment, having managed timberland, sustainable forestry, and environmental market strategies across the Asia-Pacific region since 2005. Its predecessor agriculture-adjacent strategy, the Australia New Zealand Landscapes and Forestry Fund (ANZLAFF), raised approximately A$600 million and demonstrated the viability of integrating income-producing land assets with environmental market revenue generation across Australian agricultural landscapes. NALOF applies the same landscape-integrated investment philosophy, adapted specifically to the agricultural context and the growing depth of Australia's carbon, biodiversity, and renewable energy markets. The fund represents New Forests' conviction that agricultural real assets are increasingly compelling for institutional investors seeking inflation-linked income, natural capital exposure, and measurable impact outcomes within a 12-year closed-end structure.