EFM

What EFM does

EFM (legal name: EFM Investments & Advisory, LLC) is a Portland, Oregon-based SEC-registered investment adviser founded in February 2004 by non-profit Ecotrust, and now 100% employee-owned following a January 2022 management buyout. The firm specializes in climate-smart forestry investment and management, acquiring and operating forestland primarily across the Pacific Northwest (Oregon, Washington, Nevada, California) and providing advisory services globally. As of November 2025, EFM manages $525M in assets under management and advisement (AUMA) across 200,000+ acres, 24 acquired properties (6 exited), and four fund vintages (Fund I evergreen, Funds II–III term, Fund IV launched in 2024 targeting $300M). The company is the first woman-owned forestland investment manager in the U.S. and is majority women-owned and minority-owned.

EFM's core technology is its proprietary "5 Rs of Climate-Smart Forestry" framework (Rotation, Reserves, Retention, Restoration, Relationships) implemented through in-house foresters, biometricians, carbon specialists, and a Forest Information Systems team using GIS, financial modeling, and growth & yield analysis. The firm maintains FSC certification on 100% of managed acres, was the first forestland investment company to achieve B Corp certification (2011), and is an ImpactAssets IA50 Emeritus manager. Carbon projects use ACR Dynamic Baseline methodology for additionality verification and are registered with ACR, Verra, and CAR.

EFM generates revenue through multiple streams: (1) management fees on private equity fund commitments (typically 1–1.5%) plus 20% carried interest on exits; (2) carbon credit sales to corporate buyers under long-term offtake agreements, notably with Meta (676,000 credits through 2035) and Microsoft (up to 700,000 credits through 2035); (3) timber production via harvesting and log sales; (4) conservation easement sales to land trusts, water districts, tribes, and government agencies; and (5) Natural Climate Solutions Advisory fees for global portfolio construction. Capital is raised through direct institutional and family office sales, with international distribution via a 2025 joint venture with Sojitz Corporation targeting ~$200M from Japanese investors.

Name

EFM

Legal name

EFM Investments & Advisory, LLC

Website

https://efmi.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

1–10 employees

Short description

EFM is a Portland-based SEC-registered investment adviser managing $525M AUMA across 200,000+ acres of climate-smart forestland in the Pacific Northwest through private equity funds and separately managed accounts, serving institutional investors, family offices, and corporate carbon buyers.

Ownership category

akta.pro rank

Product category

Forestland Investment Management

NAICS

Timber Tract Operations (113110), Support Activities for Forestry (1153)

SIC

Forestry (800), Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Timberland Asset Management (Institutional/Private) (AFAMAKAA)

akta.pro secondary industries

Forest Carbon Projects & Ecosystem Services (Carbon Credits, Biodiversity) (IMAMAAAJ), Sustainable Forest Certification & Chain-of-Custody Services (FSC/PEFC/SFI) (IMAMAJAJ), Real Assets — Timberland & Forestry (FSAHAIAJ)

Keywords

• Climate-smart forestry
• Forest carbon credits
• Natural climate solutions
• Timberland investment management
• Forestland private equity

Headquarters

HQ city

Portland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Private Equity Fund Management: EFM raises capital from accredited, qualified and institutional investors through commingled private equity funds (Fund I through Fund IV) and separately managed accounts. Generates management fees (typically 1-1.5% on committed capital) and carried interest (20% performance fee) on successful exits. Fund I is an evergreen structure; Fund IV is a term fund with target of $300M.
2. Carbon Credit Sales: EFM develops Improved Forest Management (IFM) carbon projects on its forestland properties and sells verified carbon removal credits to corporate buyers. EFM has established long-term offtake agreements with Meta (676,000 credits through 2035) and Microsoft (up to 700,000 credits through 2035). Projects are registered with ACR, Verra, and CAR registries.
3. Natural Climate Solutions Advisory: Since 2019, EFM has expanded to advisory business focusing on natural climate solutions globally. Works with families and institutions to build and manage global NCS portfolios, structuring investments across deforestation, reforestation, and improved ecosystem management.
4. Timber Production: Traditional revenue from timber harvesting and sales of logs to forest product companies. EFM's climate-smart approach extends rotation ages, producing higher-value logs while maintaining timber production alongside carbon and conservation revenue streams.
5. Conservation Easements: EFM generates revenue through conservation easements that restrict development and require perpetual forest management. Easements are sold to land trusts, water districts, tribes, and government agencies (e.g., sale of Desolation Creek to US Forest Service, Arch Cape to Water District).

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

EFM acquires and actively manages FSC-certified forestland on behalf of institutional investors, family offices, and accredited individuals through a series of private equity funds (Funds I–IV) and separately managed accounts. The firm generates returns from timber production plus diversified revenue streams including verified nature-based carbon removal credits, conservation easements, recreation leases, and bespoke Natural Climate Solutions advisory mandates for global clients.

Product overview

EFM is a forestland investment and management firm offering climate-smart forestry investment products primarily through private equity funds and separately managed accounts. The core product suite includes EFM Fund I (an evergreen structure since 2005 with 5 Pacific Northwest properties), EFM Fund II (launched 2013), EFM Fund III (launched 2018), and EFM Fund IV (a term fund launched in 2024 with national scope). The company also offers Natural Climate Solutions Advisory services for global portfolios and Separate Accounts for institutional and family investors seeking customized forestland management. Fund I and Fund IV are currently open for new investments, while older funds have been exited or are in harvest phases. The company manages over 200,000 acres of forestland and creates value by combining timber production with revenues from carbon sequestration, conservation, recreation, and biodiversity.

Differentiator

Problem solved

Functional benefit

Products and services

• EFM Fund I (Evergreen Forestland Fund) The first evergreen forestland fund in the U.S., offering accredited investors exposure to climate-smart forestry across five Pacific Northwest properties with rolling quarterly closes and indefinite holding for long-term value creation. 90+ existing investors include individuals, foundations and family offices.
• EFM Fund II Term fund launched in May 2013 as the second vehicle in EFM's series of private equity funds investing in climate-smart forestland.
• EFM Fund III Term fund launched in May 2018 as the third vehicle in EFM's series, continuing the firm's expansion of climate-smart forestland investment.
• EFM Fund IV (Term Fund) Newest term fund launched in December 2024 with a $300M target, a U.S.-focused strategy with Western emphasis, and fundraising through 2026. First close is complete and the Olympic Rainforest is the first asset, with Microsoft Climate Innovation Fund invested as cornerstone.
• Separate Accounts Separately managed accounts launched in September 2019, offering customized forestland investment and management for families and institutions, with 71,000 acres across 5 properties focused on the U.S., South America, and Africa.
• Natural Climate Solutions Advisory Advisory service launched in September 2019 that builds and manages global portfolios of natural climate solutions for families and institutions, structuring investments across deforestation, reforestation, and improved management of forests, mangroves, grasslands, and farmlands, with over $1 billion in investment opportunities evaluated globally.
• Verified Nature-Based Carbon Removal Credits Verified carbon removal credits generated from Improved Forest Management (IFM) projects on EFM's forestland, registered with ACR, Verra, and CAR registries and sold via long-term offtake agreements (e.g., Meta for 676,000 credits through 2035; Microsoft for up to 700,000 credits through 2035).

Quantifiable outcome

• 18 million metric tons of above-ground carbon stored in EFM forests
• +5 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered strategic, core/flagship and minor.

• Mast ReforestationstrategicStrategic or Co-development Partner · 19 May 2026Partnership for Henry Creek Reforestation Project restoring 891 acres of Oregon forestland devastated by the 2020 Beachie Creek Fire. Mast deployed drone-based enhanced seeding technology and traditional planting methods. Project generated 575,861 carbon removal credits verified by Climate Action Reserve.
• Anew ClimatestrategicStrategic or Co-development Partner · 19 May 2026Partnered with EFM and Mast on Henry Creek Reforestation Project. Anew enabled early financing for the project prior to planting and has delivered credits to early buyers including Shopify and Arbor Day Foundation. Anew Climate is majority owned by TPG Rise, TPG's global impact investing platform.
• Sojitz Corporationcore/flagshipStrategic or Co-development Partner · 28 April 2025Joint venture to establish EFM Sojitz Management, LLC managing a forestry investment fund targeting approximately $200 million. Initial participation from Sojitz, Fuyo General Lease Co., Ltd., and other global investors. Fund will acquire and manage forestland in climate-resilient U.S. regions, generating returns through sustainable timber and forest-based carbon credits.
• Wild Salmon CenterminorStrategic or Co-development Partner · 1 March 2025Collaborating with EFM on restoration efforts for wild salmon and steelhead habitat on Olympic Peninsula properties. The center has worked with EFM for several years supporting restoration on existing properties and will continue work on new Olympic Rainforest lands.
• L&C CarbonstrategicStrategic or Co-development Partner · 14 July 2023Strategic partnership to develop and manage carbon projects on U.S. forestland. L&C's founder David Ford provides dedicated capacity for high-quality carbon project development across EFM's portfolio. Partnership resulted in one of the first ACR IFM projects in California that issued over 100,000 credits in its first reporting period.
• Forest Stewardship Council (FSC)core/flagshipOthersEFM forests are audited annually for FSC certification compliance. FSC is a global non-profit setting the standard for responsible forest stewardship through its 10 principles. EFM maintains FSC certification on 100% of acres under management.

Scale indicators10 records

Recent moves15 records

Expansion highlights6 records

Direct peers

• Hancock Natural Resource Group: Subsidiary of Manulife that manages one of the largest timberland investment portfolios globally for institutional investors. Most directly comparable to EFM in the timberland-for-institutional-LPs model, though at substantially greater scale.
• Campbell Global: A T. Rowe Price-owned timberland investment manager serving institutional clients with acquisitions, sustainable management, and disposition services across U.S. and international timberland. Closely mirrors EFM's institutional timberland fund model.
• New Forests: Australia-based natural capital investment manager with timberland, carbon, and biodiversity strategies globally, now part of Tattarang/Stonepeak. Directly comparable to EFM's climate-smart forestry and natural climate solutions investment approach, including carbon project development.
• Forest Investment Associates: U.S. focused timberland investment manager for institutional clients, managing acquisitions, sustainable management, and dispositions of forestland. Closely comparable to EFM's Pacific Northwest timberland fund model.
• Molpus Woodlands Group: Timberland investment management organization acquiring and managing forestland for institutional investors and timberland investment funds. Comparable to EFM in fund structure and institutional LP base.
• BTG Pactual Timberland Investment Group: Global timberland investment management group (formerly part of BTG Pactual) managing institutional timberland portfolios across the Americas. Comparable institutional LP-focused timberland investment manager.

Broad incumbents

• Weyerhaeuser: Public timber REIT and one of the largest private owners of softwood timberland in the U.S., including significant Pacific Northwest holdings. Operates in the same underlying asset class as EFM but as a public owner-operator, not an investment manager.
• Potlatch Deltic: Public timber REIT with substantial Pacific Northwest timberland resources and a Timberlands Management segment serving third-party institutional clients. Comparable as a large-scale timberland owner and manager; competes for LP capital.
• Rayonier: Public timber REIT with timberland assets across the U.S. South and Pacific Northwest, plus a Performance Fibers business. Comparable as a major institutional-quality timberland owner and operator in EFM's geographies.

Emerging players

• Climate Asset Management: Joint venture between HSBC Asset Management and Pollination, investing in natural capital and nature-based carbon projects globally. A direct partner on Olympic Rainforest and a peer in the institutional natural capital / nature-based carbon space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/efm-investments-advisory
• Xx.com/EFMInvest

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EFM