J.P. Morgan Natural Capital Commits $200 Million to Sustainable Forestry and Carbon Credits Platform in Paraguay

J.P. Morgan Natural Capital, the natural capital investment unit of J.P. Morgan Asset Management, and the Office of the President of the Republic of Paraguay have announced a $200 million investment to develop a large-scale sustainable forestry platform in Paraguay. The deal was unveiled on September 24, 2026, at the Paraguay Investment Forum NYC 2026 in New York.

The platform will establish commercial forests, advance native forest restoration, and generate long-term value through the sustainable production of high-quality timber, carbon credits, and wood products. Capital deployment is expected to begin in early 2027.

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A Three-Way Partnership With Local Expertise

Paraguayan business group Grupo Robinson is the third partner in the initiative, bringing local knowledge, production expertise, and long-term development vision for Paraguay's forestry sector. J.P. Morgan Asset Management's official press release described Grupo Robinson as having a strong track record in the country's agricultural and forestry industries.

The partnership goes beyond planting trees. The three partners plan to process timber locally, add value at the source, and produce finished goods for both domestic and export markets. The initiative is also designed to create rural employment and strengthen communities across Paraguay's regions.

Santiago Peña, President of the Republic of Paraguay, said: "We welcome long-term partners who invest with a focus on sustainable development."

A Freshly Rebranded Platform

J.P. Morgan Natural Capital is the recently rebranded version of Campbell Global, a timberland investment firm that J.P. Morgan Asset Management acquired in 2021. The rebrand took effect on September 2, 2026, reflecting an expanded mandate that now spans land, carbon, biodiversity, and other nature-related assets.

The platform currently manages more than 1.5 million acres globally and oversees approximately $11 billion in assets under supervision as of December 31, 2025. Its roughly 150 employees operate across 15 U.S. states, the United Kingdom, Australia, New Zealand, and Latin America. In March 2025, the firm's Forest & Climate Solutions Fund II closed at $1.5 billion, the largest forestry fund ever raised in the natural capital asset class.

Carbon Credits as a Core Value Stream

The explicit inclusion of carbon credit production alongside timber and wood products sets this platform apart from a conventional timberland deal. High-quality forestry credits, especially those tied to native forest restoration, are in strong demand from corporate buyers in voluntary carbon markets. A platform backed by institutional capital at this scale, paired with sovereign government support, creates a credible and bankable structure for credit issuance.

Paraguay has been actively positioning itself as a forestry and natural capital destination, with leaders pointing to the country's fast tree-growth cycles, abundant land, and energy stability as competitive advantages. Angela Davis, CEO of J.P. Morgan Natural Capital, called the initiative "a compelling opportunity to build a scalable, long-term forestry platform."

About J.P. Morgan Natural Capital

J.P. Morgan Natural Capital is a Portland, Oregon-based investment manager focused on forestland and nature-based assets. Formerly known as Campbell Global, the firm was rebranded in September 2026 and operates as part of J.P. Morgan Asset Management's $326 billion alternative investment business. It manages more than 1.5 million acres across three continents for pension funds, foundations, family offices, and other institutional investors, with approximately $11 billion in assets under supervision as of December 31, 2025.

Source: J.P. Morgan Asset Management Press Release, September 24, 2026