Global impact asset manager Finance in Motion and timber sector advisory company Unique have reached a first close for the sustainable forestry-focused Arbaro Fund with US$60 million in capital commitments. Investors in the fund include development finance institutions the European Investment Bank, which committed US$20 million, and Finnfund, Austrian fair-practice pension fund Vorsorgekasse, non-profit organization GLS Treuhand and transport company Girteka Logistics. The fund, which is targeting US$200 million in total commitments, will invest in and manage a portfolio of up to 12 sustainable forestry projects in Latin America and Sub-Saharan Africa.