Africa Sustainable Forestry Fund II

The Africa Sustainable Forestry Fund II (ASFFII) is a USD 150 million private equity fund managed by Criterion Africa Partners that invests in sustainable forestry value chains across Africa, utilizing a blended equity structure to provide both mitigation and adaptation benefits.

• The Africa Sustainable Forestry Fund II (ASFFII) is a 10-year, USD 150 million private equity fund managed by Criterion Africa Partners. It employs a blended equity instrument where five of its six limited partners are Development Finance Institutions (DFIs)—specifically the AfDB, BIO (Belgium), EIB, FinDev (Canada), and FMO (Netherlands)—while Calvert Impact Capital provides commercial senior capital.
• ASFFII invests in sustainable timber companies focusing on biomass, sustainable downstream manufacturing, and plantation rehabilitation and expansion. To qualify, investees must adhere to Forest Stewardship Council (FSC) guidelines, and most investments incorporate acreage dedicated to conservation, which provides adaptation benefits alongside reforestation and sustainable harvesting mitigation benefits.
• Criterion has invested in eight sustainable timber companies across eSwatini, Gabon, South/Southern Africa, Tanzania, and Uganda. The fund identifies Botswana, Kenya, and Rwanda as other potential countries meeting its investment criteria, which include a sizeable timber industry, government support for sustainable forestry, currency stability to avoid foreign exchange losses, and the ability to repatriate capital.

APA

Climate Policy Initiative (2021). Africa Sustainable Forestry Fund II. https://www.climatepolicyinitiative.org/gca-africa-adaptation-finance/case_studies/africa-sustainable-forestry-fund-ii-2/

Chicago

Climate Policy Initiative. Africa Sustainable Forestry Fund II. 2021. https://www.climatepolicyinitiative.org/gca-africa-adaptation-finance/case_studies/africa-sustainable-forestry-fund-ii-2/.

Wikipedia

{{cite report |author=Climate Policy Initiative |title=Africa Sustainable Forestry Fund II |date=16 September 2021 |url=https://www.climatepolicyinitiative.org/gca-africa-adaptation-finance/case_studies/africa-sustainable-forestry-fund-ii-2/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatepolicyinitiative2021africa, author = {{Climate Policy Initiative}}, title = {{Africa Sustainable Forestry Fund II}}, institution = {Climate Policy Initiative}, year = {2021}, month = sep, url = {https://www.climatepolicyinitiative.org/gca-africa-adaptation-finance/case_studies/africa-sustainable-forestry-fund-ii-2/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }