AXA IM Alts has acquired 24,000 hectares of Australian woodland and an associated forestry management business from investment funds advised by Global Forest Partners.
The acquisition was reportedly completed for A$700m ($517m), although this wasn't confirmed by AXA IM Alts.
This marks the asset manager's first investment into Australia's forestry market. The business currently manages 60,000 hectares across France, Ireland and Finland.