From pheasant hunting to peatland restoration: RESTORE secures tri-capital funding for nature recovery
Rewilding specialist RESTORE has completed the acquisition of a former game-hunting training ground for what will become England’s largest single-owner nature restoration project, using a unique tri-capital financing structure
The 7,500-acre Emblehope Estate in Northumberland, formerly used as a dog training ground by the Royal Kennel Club, has been acquired by RESTORE as part of an effort to support large-scale nature recovery and peatland restoration.
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RESTORE, which counts Rebalance Earth among its anchor investors, deployed a bespoke tri-capital structure that combines philanthropic funding, private equity and senior debt within a single special purpose vehicle (SPV).
The manager launched just three years ago and has received £500,000 in equity funding to date, it has succeeded in raising almost £9mn from a combination of investors and charitable donors.
The capital stack includes senior debt provided by Triodos Bank UK, alongside investment from a syndicate of impact investors seeking natural capital returns. Additional philanthropic funding was provided through a donor-advised fund.
The acquisition is intended to bring greater scale to Britain’s nature restoration efforts. Benedict Macdonald, founder and director of RESTORE, said: “What has long been missing from the English uplands is a large-scale site dedicated primarily to the most ambitious forms of nature restoration. While many upland estates, farms and forestry operations benefit from nature as a by-product of commercial activity, Emblehope is destined to become a biosphere-level reserve where nature itself is the primary driver.”
Simon Crichton, head of nature, food and resource at Triodos Bank UK, added: “We’ve been actively financing nature-based solutions for a number of years, and Emblehope builds on this work. Having first provided finance to RESTORE in 2025, we know that together we share a clear, ambitious vision for scaling nature restoration. We’re proud to support the team and look forward to seeing the long-term impact this project delivers for both nature and communities.”
The funding will support the rewetting of approximately 800 hectares of degraded peatland, the restoration of thousands of acres of lost or degraded habitats and plant communities, and the creation of low-intensity grazing systems designed to increase vegetation diversity and improve habitat structure.
By creating the conditions for a mosaic of open water, bog, scrub, dwarf woodland and species-rich glades to develop, RESTORE aims to support the return of threatened bird species including the curlew, golden eagle and common crane.
The restored peatland could also play an important role in protecting the region from extreme weather events. Modelling suggests that, once the hydrological restoration programme is complete, the rewetted peatland will be capable of storing an additional 100,000 cubic metres of water. This is equivalent to around 40 Olympic-sized swimming pools or the annual water consumption of approximately 700 households.
The initiative will play a key role in Britain’s 30x30 pledge, an international commitment to protect and manage at least 30% of global land and sea for nature by 2030.
The project was welcomed by Tony Juniper, chair of Natural England: "The acquisition of Emblehope is an exciting development for Nature recovery in England. Focused on restoring habitats in the headwaters of the North Tyne and creating the wetland conditions for wildlife to thrive, this project builds on important foundation work to heal the landscape.
Emblehope will be supported through 30x30 RESTORE Units, a mechanism developed in partnership with 30x30 UK, in which each unit funds measurable, verified on-the-ground restoration.
