New Forests Names Sam Rorabaugh Global Investment Head for 14 Million Acres
Sam Rorabaugh will oversee the Sydney-based firm's US$7.3 billion in nature-based assets and its new Global Landscape Opportunities strategy, which launched in June.
Leadership Change at New Forests
Sam Rorabaugh has been appointed Global Head of Investments at New Forests, an asset manager overseeing over 14 million acres of nature-based real assets valued at US$7.3 billion. Sydney-headquartered New Forests announced Rorabaugh's promotion last Wednesday, where he succeeds David Shelton in the global role.
Rorabaugh will continue to lead the firm's North American investment team, a position he has held since 2020. Michelle Elliot, New Forests' Executive Director of Global Funds Management, noted that Rorabaugh's appointment reflects the company's internal talent, positioning him to expand on the global investment platform built under Shelton.
Shelton, who managed New Forests' Australia and New Zealand investments since 2006, will now concentrate on that region and the firm's broader global growth objectives.
Launch of Global Landscape Opportunities Strategy
In his expanded role, Rorabaugh will also guide New Forests' new Global Landscape Opportunities strategy, its inaugural global natural capital offering designed for institutional investors. This strategy launched on 15 June of this year.
New Forests plans to allocate 60 to 80 percent of this strategy's investments across the United States, Canada, Europe, the United Kingdom, Australia, and New Zealand. Up to 30 percent is earmarked for Brazil, Uruguay, and Chile.
David Shelton, who was Global Head of Investments when the strategy launched, previously stated that not all institutions possess the necessary scale, resources, or expertise to build and manage their own global portfolios of this type.
Recent US Timberland Acquisitions
New Forests has recently expanded its US timberland holdings. In June, the firm acquired 44,200 acres of Douglas-fir and western hemlock plantations in Washington State from Campbell Global, now operating as J.P. Morgan Natural Capital. This followed a November 2024 purchase of a 91,000-acre plantation forest in Oklahoma.
The company's American assets span Northern California, Southwestern Oregon, and the US South. These acquisitions contribute to a broader trend of significant timberland investment in the US.
For example, New Zealand's sovereign wealth fund increased its American timberland account to US$200 million this week, and Brazil's BTG Pactual expanded its US estate beyond 1.7 million acres in June.
Implications for Asian Timber Markets
New Forests' global investment strategy, which includes a presence in Asia, indicates a continued focus on timber and nature-based assets that can influence supply chains for building materials.
With investments spanning North America, Australia, New Zealand, Africa, and Asia, the firm's management of over 14 million acres directly impacts the availability and sourcing of timber and wood products.
Asian procurement teams and specifiers sourcing timber for construction or interiors projects should monitor how these large-scale investments affect timber supply stability, pricing, and the types of certified wood products available from these regions.
The firm's focus on natural capital as an asset class could also drive demand for specific sustainable forestry certifications, which Asian buyers may need to request from their suppliers.
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