As per reports, JPMorgan Chase & Co.’s (JPM) asset-management arm has agreed to purchase Campbell Global LLC, which focuses on timberland and natural resources and has $5.3 billion in investments. The bank aims to become an active participant in carbon offset markets, using forests to capture and store atmospheric carbon dioxide.
Part of BrightSphere Investment Group, Campbell Global manages more than 1.7 million acres (690,000 hectares) worldwide with 150-plus employees. All of the firm’s employees will remain with Campbell, and the firm will stay headquartered in Portland, Oregon.
The financial terms of the transaction were not disclosed.
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