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About AF

Leading impact investment manager in the region with more than 20 years of experience and USD 950 million of assets under management across 130,000 total hectares.

AF markets forest products.
We manage a portfolio with the purpose of making a positive and measurable social and environmental impact alongside a financial return, including sustainable timber plantations and conservation areas, as well as carbon sequestration projects.
2000
2005
2007
2010
2011
2014
2015
2016
2019
2023
Begins Operations as a forestry services company in Uruguay.
Begins managing forests (18,000 hectares for first major client at onset, reaching a total of 55,000 hectares).
Expands operations to Chile, mangin 14,000 hectares of timberland.
Expands operations into Brazil, focusing on weed control services
First Publicly Listed Trust in the Uruguayan Exchange was launched BDU I with USD 50 million in commitments.

Begins managing 6,500 hectares of agriculture (until 2014).

AF Maderas launches, beginning Eucalyptus exports and sales to China and Vietnam.
Acquires a majority stake in Combate, a Brazilian forestry company dedicated to ant control.
BDU II launches, a forestry greenfield fund in Uruguay with USD 70 million in commitments.
BDU III launches, a forestry brownfield fund in Uruguay with USD 190 million in commitments.
BDU IV launches, a forestry brownfield fund in Uruguay with USD 330 million in commitments.
Expands operations into Paraguay

Our Team

Leading impact investment manager in the region with more than 20 years of experience and USD 950 million of assets under management across 130,000 total hectares.

We manage a portfolio with the purpose of making a positive and measurable social and environmental impact alongside a financial return, including sustainable timber plantations and conservation areas, as well as carbon sequestration projects.

Francisco Bonino

Founder, CEO

Jorge Armand Ugon

CFO

Silvana Tome

Chief Human Capital Officer

Dan Guapura

Country Manager Uruguay

Francisco Garcia

Business Development Manager, Chile & Brazil

Pablo Thiel

Head of Business, Brazil

Veronica Ayzaguer

Fund and Impact Manager

Maria Stella

Financial Studies and Reporting Manager

Daniel Romero

Head of Planning

Lucia Fajardo

Sales Manager

Francisco Bonino

Chair

Aldo Lema

Independent

Gerardo Díaz Beltrán

Cecilia Bonino

AF-BOSQUES-COSECHA
AF-AGUA
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