Dasos Timberland Fund II, a private equity fund managed by CapMan Natural Capital, has signed an agreement for the sale of a forest asset portfolio of approximately 24,000 hectares in Latvia and Lithuania to Inter IKEA Group.
After more than a decade of active forest management, the forests have reached a mature stage in their value creation cycle. During its ownership, CapMan Natural Capital has managed the forests according to sustainable forest management principles and implemented a series of operational improvements. These measures have improved the condition and productivity of the forests and strengthened their long-term sustainability. As part of this work, the forests in both Latvia and Lithuania were certified according to the internationally recognized forest certification, the Forest Stewardship Council (FSC®). CapMan Natural Capital has enhanced the portfolio’s value by negotiating timber supply agreements and developing renewable energy-related opportunities.
The transaction is expected to close in the first half of 2026 and is subject to customary regulatory approvals. The investment is estimated to exceed the fund’s target return, supporting a strong total return for investors. Following the transaction, CapMan Natural Capital will manage a total of approximately 215,000 hectares of land and continue to be one of the largest independent forest owners in the European Union, operating in eight different countries.
The CapMan Dasos Sustainable Forest III special investment fund is open for new subscriptions quarterly, and CapMan Natural Capital’s European Forest Fund IV aims to complete its first closing by the end of 2025. Sustainability, generating measurable natural capital benefits, active value creation, and disciplined risk management will continue to be at the core of the team’s investment strategy.
