The ‘Camp’ wildfire in northern California has devastated the town of Paradise with a population of 27,000. At the time of writing, an area of at least 450km2 has been burned, 6,713 buildings destroyed and, to date, there are 29 confirmed fatalities. This wildfire is thus likely to be one of the worst in California’s history. A further 15,500 additional structures are threatened, as the fire is only 25% contained.
Two further fires are burning in southern California, the ‘Woolsey’ and ‘Hill’ fires near Los Angeles. The ‘Woolsey’ fire has burned an area of 350km2, 57,000 structures are threatened, and there have been two fatalities to date. It is currently 15% contained. Meanwhile, the ‘Hill’ fire has burned an area of 20km2, and is currently 75% contained.
Twelve Capital is closely monitoring the above event and will issue more detailed updates should this event prove material, particularly regarding any potential impact on its portfolios.
Please feel free to contact us with any questions.