JPMorgan Chase's (JPM) Campbell Global platform has raised $2.3 billion for new investments, Bloomberg reported Tuesday, citing Chief Executive Officer John Gilleland.

Campbell Global, which specializes in timberland investments, closed $1.5 billion for its Forest Climate Solutions Fund II and also raised $800 million through separately managed accounts, Bloomberg said, citing Gilleland in an interview.

The new fund is about 40% invested across roughly 212,000 acres of timberland properties in the US South and Pacific Northwest, Bloomberg said, adding the vehicle will focus on investments in OECD countries, including the US, Australia, New Zealand, and Chile.

The fund is backed by pension funds, insurance companies, and high-net-worth individuals from 15 countries, with investors particularly interested in the climate benefits of forest management, such as carbon removal, water protection, and habitat preservation, Gilleland said, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)