IMPACTASSETS 50

An Annual Showcase of Impact Investment Fund Managers

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An Annual Showcase of Impact Investment Fund Managers

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ImpactAssets 50: A Global Landscape of Impact Investment Fund Managers
The ImpactAssets 50 (IA 50) is the first open-source, publicly published database of experienced private debt and equity impact investment fund managers.
https://www.impactassets.org/impactassets-50

ImpactAssets 50

An Annual Showcase of Impact Investment Fund Managers

IA 50 2012 PROFILE

Ecotrust Forest Management

Total Assets Under Management: $25 – 49M
Asset Class: Real Estate, Commodities, Private Equity
Natural Resources and Conservation
Water and Sanitation
Small/Medium Business Development

Firm Overview

Category: (None)

Ecotrust Forest Management (EFM) is a private forestland investment management organization that strategically acquires and manages forestland in the Western United States to generate true long-term value for both investors and society. We were founded in 2004, and have deployed $30M of investor capital into acquiring and managing 13,000 acres of ecologically important forestland in OR and WA.
Our objective is to demonstrate the financial competitiveness of an ecosystem based forest management approach that produces high-quality timber, protects critical ecosystems, improves carbon sequestration and, sustains forest-dependent rural economies. EFM's unique access to deal flow, knowledge of environmental markets and conservation funding sources, ability to access concessionary debt and tax advantaged financing, and customized forestland acquisition analysis tools generate unique value for investors.

Firm Headquarters: US & Canada
Years of Operation: 5 – 9 years
Total Assets Under Management:
$25 – 49M
Total Number of Investors: More than 25
% of Capital from Top 3 Investors: 25% – 49%
Investment Thesis:

At Ecotrust Forest Management, we see value in the forest, not just the trees.  Forests in the Western United States have inherent social, environmental and economic values that are not recognized by conventional forest management practices. Industrial forests are primarily managed to maximize fiber production and development value. The tremendous public values of a healthy, functioning forest, such as water filtration and storage, carbon sequestration, habitat, recreational and foraging value, are largely ignored in the conventional approach. In contrast with traditional timberland managers that primarily manage forests for timber and development value, EFM employs an integrative approach that not only considers the traditional markets for timber and biomass, but also identifies and monetizes often over-looked conservation, cultural and environmental assets that can unlock additional value for investors.  EFM's rich experience in the region, unique access to deal flow, customized evaluation criteria, forest resource optimization tools and management capacity uniquely equips us to execute on our investment thesis.

Investment Overview:
(None)

Investment Example

In 2010 the Manager completed its acquisition of Garibaldi, a 5000 acre parcel of land next to the economically distressed town of Garibaldi on the North coast of Oregon. The property lies in the Moss Creek watershed, and protects the headwaters of the drinking water supply for the town of Garibaldi. The stream is also important for salmon spawning and ecosystem health. EFM  has set aside generous stream buffers and has voluntarily decided to focus its sustainable harvest activities on other parts of the property, generating close to 2 million board feet of lumber in the last year. We have secured ~$300,000 in grant funding for bridge replacements, habitat friendly thinning activities and riparian plantings on the property that open salmon passage and reduce stream sedimentation. We have also financed the property with New Market Tax Credits, generating $4M that has covered the property holding costs during the recession.  EFM also hires and trains low-income employees to oversee operations and a free firewood program for the community.
Between 2012-2015, EFM plans to dedicate the entire Moss Creek watershed to conservation outcomes through a combination of carbon and conservation funding. Ultimately, the property will be a great example of EFM's integrative forest management approach - generating robust capital appreciation and income for investors via carbon, conservation easements, timber and tax credits, while improving ecosystem health, water quality and community outcomes. 

Leadership and Team

Cumulative Leadership Experience in Investing:
30 years or more
Cumulative Impact Experience of Top Three Firm Leaders:
20 – 29 years
Bettina von Hagen – CEO, Ecotrust Forest Management More Info

Bettina helped launch Ecotrust Forests and joined EFM as CEO in 2008. Bettina has spent the past 15 years working to promote economic viability, social equity, and environmental health in the Pacific Northwest with a particular focus on forestry. A former vice president of Ecotrust’s Natural Capital Fund and commercial banker, Bettina has over 20 years of experience in banking and fund management. She also has significant expertise in emerging markets in ecosystem services, particularly the forest carbon market, where she is involved in developing markets and protocols for high-quality forest carbon projects at the state, regional, and federal levels.

Sam Baron – CFO More Info

Sam has nearly a decade of finance and accounting experience, ranging from financial reporting and analysis to treasury accounting. Prior to joining EFM, Sam worked as a Financial Analyst for McCormick & Schmick’s Seafood Restaurants, and as an Operations Controller for Compass Group USA. Sam Baron holds a BA from the University of Delaware.

Amrita Vijay Kumar – Director Conservation Finance More Info

Amrita joined Ecotrust Forest Management in 2011 to lead EFM’s business development, advisory and capital raising efforts. She possesses a unique mix of private sector experience in banking, venture capital and consulting, having worked for Citigroup’s Growth Ventures, Piper Jaffray’s clean-tech banking group and PricewaterhouseCoopers Singapore for 5 years. Amrita has also developed a unique perspective on financing triple bottom line ventures via consulting work with carbon forestry developers in Indonesia, pioneering impact investment funds in West Africa and leading environmental non-profits in the US.

Percentage of Investment Professionals who identify as women:
Percentage of Investment Professionals who identify as a person of color:*
Percentage of Senior Management Team who identify as women:
Percentage of Senior Management Team who identify as a person of color:*
*People of color include: Black, Latinx, Asian, Native American/Alaskan Native, Pacific Islander, Middle Easterm and multi-racial Americans

Financial Performance

Target Financial Returns Relative to Benchmark:
Market Rates
Actual Performance Relative to Target Financial Returns in the Past Three Years:
Over-delivered compared to initial target returns

Impact Performance

Percentage of Total Assets Under
Management that are Impact Investments:
100%
Primary Impact Outcomes:
None
Value-added Services Offered:
None

Investments systematically target companies where social and/or environmental impact is integral to the product/service being created:

EFM identifies properties based on their exceptional social and environmental characteristics as this is crucial to the execution of our investment strategy and is the source of our value generation. Our due diligence process is explicitly designed to identify these sources of value and our acquisition strategy is guided by the use of proprietary spatial analysis and GIS tools that draw from conservation and in-house data-sets.

Our due diligence process includes evaluating:

  • Timber characteristics and the ability to achieving a sustainable harvest level
  • Community Impact: the ability to create social value by virtue of access to local communities for non-timber harvest products, firewood, employment via property activities and access to local mills.
  • Conservation value: Presence of unique conservation features and recognition of their importance at a landscape level including connectivity, presence of endangered species, road run-off issues, watershed impacts

Investments systematically include social and environmental sustainability practices in the due diligence process:

Yes, since our investments are real property investments, our due diligence process ensure that that land can be viably managed using environmentally sustainable practices that are FSC Certified (Forest Stewardship Council)

Impact Tracking and Monitoring

Impact is Tracked:
Yes
Social and/or Environmental Impact is Reported to Investors and Donors:
Yes - on regular basis (annual or quarterly)
Third Party Validations:
Participant on steering committees or leadership roles within impact industry associations
Publisher or contributor to industry white paper or other research in impact investing

Learn More

Key Contact Name: Bettina von Hagen
Phone: (503) 467-0756
Mailing Address:

721 NW 9th Ave
Portland, OR  97208

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