APG, on behalf of pension fund ABP, commits €150 million to SLM Silva Fund II. The fund will invest in forests across Europe using Continuous Cover Forestry (CCF), a regenerative management approach that maintains permanent forest cover through selective harvesting.
The fund builds on SLM Silva Fund I, launched in 2018 to acquire conventionally managed forests in Ireland and transition them to CCF. As of June 2026, Fund I had acquired 2,000 hectares, with 67% of its forest area transitioned to CCF management. Fund II will continue investing in Ireland and expand the strategy across a wider range of European forest ecosystems and geographies.
“European forestry, with a focus on CCF and afforestation, can play an important role in supporting ABP’s climate and biodiversity ambitions while generating attractive long-term returns,” said Andrey Gushchin, Senior Portfolio Manager in APG’s Private Natural Capital team. “SLM Partners’ expertise and experience in CCF management were clear differentiators throughout our investment decision.”
Under CCF, trees are harvested selectively through regular thinnings, allowing the forest to regenerate naturally and develop a more diverse, natural structure over time. The approach is gaining policy momentum as evidence of its economic and environmental benefits grows. The New EU Forest Strategy for 2030 highlights CCF as an approach to protect and restore biodiversity, increase carbon storage and strengthen resilience to climate extremes.
CCF is intended to improve forest resilience and long-term investment returns while contributing to biodiversity and carbon storage. “In forestry, our model combines established practices such as CCF with rigorous investment discipline and impact measurement,” said Darius Sarshar, Principal at SLM Partners.
Only an estimated 22–30% of European forests are currently managed under CCF. APG’s commitment supports the continued expansion of CCF practices across Europe and contributes to the transition towards more sustainable forest management.