Biggest EU Pension Fund ABP Buys Major Stake in US Forests

Dutch pension fund ABP, Europe’s biggest, has become a majority shareholder in a large area of forest spanning three southern US states.

The deal is structured so that ABP holds the stake via a fund managed by the Molpus Woodlands Group and a co-investment vehicle, according to a statement by APG Asset Management, which handles transactions for ABP. Molpus bought the 173,000 acres of land in August for $462 million.