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Scooped by
Prentiss & Carlisle
July 29, 2014 8:20 AM
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Heartwood Forestland REIT III LLC, formed in 2014, recently filed a transaction with the SEC after the company raised $85.5 million of the $350 million it is hoping to raise. Ten investors have signed on to the fundraiser, according to the SEC filing.
Heartwood Forestland REIT III LLC falls under Forestland Group LLC, which was formed in 1995, and manages 3.5 million acres of forestland in 24 states and Belize, Canada, Costa Rica and Panama. The company focuses on naturally regenerating hardwood and softwood forests.
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Scooped by
Prentiss & Carlisle
August 21, 2013 7:41 AM
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Brookfield Asset Management Inc. (NYSE:BAM)(TSX:BAM.A)(EURONEXT:BAMA), announced today that it held the final close on Brookfield Timberlands Fund V L.P. with equity commitments totaling US$1 billion, creating a global fund that will invest in timberlands, primarily in the U.S., Brazil and Australia and may also pursue opportunities in Canada, Chile, Uruguay and New Zealand.
Commitments to the Fund exceeded the original US$750 million fundraising target, reflecting strong investor demand. Investors in the Fund include a diverse group of institutional investors, including sovereign wealth funds, public and private pension plans and insurers. Brookfield committed US$250 million to the Fund, aligning its interests with those of third party investors.
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Prentiss & Carlisle
July 3, 2013 1:38 PM
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New Forests today announced the final close of the New Forests Tropical Asia Forest Fund (“TAFF”). TAFF has closed with a total of US$170 million in capital commitments, which will be invested in sustainable plantation forestry investments in Southeast Asia, with a primary focus on Malaysia, Indonesia, and Vietnam.
New Forests also announced the completion of the fund’s first investment, the acquisition of a majority interest in the Hijauan group, which includes the wholly-owned Hijauan Bengkoka Plantations and a 50% shareholding in Acacia Forest Industries. Together, these two companies are responsible for management, harvest, and future rotations of an Acaciamangium plantation in northern Sabah, Malaysia. The plantation area currently includes approximately 11,000 hectares of acacia plantation, producing saw logs and pulpwood for domestic and regional export markets. *** As timber supply from natural forests in Southeast Asia declines, there is an increasing need for investment in high quality, sustainably managed plantation forests. TAFF is the first private investment vehicle dedicated to sustainable plantation timber production in Southeast Asia using long-term, institutional capital. TAFF will establish a portfolio of assets producing high value sawlogs and veneer logs. The fund’s investments are overseen by New Forests Asia (Singapore) Pte Ltd and managed by co-portfolio managers Darius Sarshar and Paul Speed, supported by a team of specialist forestry and investment professionals.
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Prentiss & Carlisle
May 17, 2013 12:18 PM
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Brookfield Asset Management’s second Brazilian timber fund has hit its $270m target after raising $150m in five months, AltAssets has learned.
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Scooped by
Prentiss & Carlisle
February 25, 2013 12:19 PM
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Business angels are spreading their wings into the
forestry sector, with Edinburgh-based syndicate Par Equity preparing to launch a £10 million timber fund.
The firm, founded by Paul Atkinson in 2008, believes that at least 50 investors
will pile into the fund, which will probably feature a mix of individuals and institutions.
Par Equity has already tested the waters with a trading partnership over the past two years, which brought together 18 investors to buy around £2m-worth of forestry.
Atkinson told Scotland on Sunday that Par Forestry Partnership had bought
three forests in Scotland – at Armadale in West Lothian, in Ayrshire and along the M74 motorway – and that his firm expects to close a deal in Wales in the coming week.
“This is a long-term form of investment, because it can take 35 years for trees to grow to the right size to be harvested,” Atkinson explained.
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Scooped by
Prentiss & Carlisle
November 8, 2012 4:10 PM
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Liberty Street Advisors, Inc. announced the launch of the Capital Innovations Global Agri, Timber and Infrastructure Fund ("the Fund") (INNAX, INNCX, INNNX), the second in its series of Funds focused on income production and inflation protection. *** The new Capital Innovations Fund's investments focus primarily on global stocks in agribusiness, timber and infrastructure, where long-term demand for their products may exceed supply due to secular and demographic growth trends. These investments tend to seek strong yields overall, while also providing a potential hedge against the threat of inflation. *** "Institutional investors have long experienced the potential benefits of exposures to real assets beyond the traditional 'hard commodities'. Global demand for agribusiness, timber and infrastructure have historically demonstrated the ability to provide institutions consistent yield backed by real cash flows along with the ability to thrive in inflationary environments," said Tim Reick, Founder and Chief Executive Officer, Liberty Street Advisors. "Our goal in launching this fund was to provide investors the ability to include exposure to equities within these asset classes managed by an institutional manager dedicated to these specific sectors."
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Prentiss & Carlisle
August 3, 2012 10:21 AM
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Prentiss & Carlisle
July 14, 2014 7:06 PM
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Sprott Asset Management has launched the Sprott Real Asset Class, a mutual fund that offers exposure to infrastructure, timber and agriculture.
The fund will be sub-advised by Capital Innovations, with Michael Underhill and Susan Dambekaln serving as lead managers, and it will be available starting on July 16, 2014.
“Diversified allocation to real assets…has historically offered investors lower risk and the potential for enhanced returns,” says John Wilson, CEO of Sprott.
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As part of the company’s corporate class offerings, the new fund will allow investors to switch between share classes on a tax-deferred basis. It will invest in a portfolio of mutual funds, as well as directly invest in stocks, REITs and master limited partnerships.
Sprott offers three other real asset funds that are sub-advised by the same portfolio management team: - Sprott Global Infrastructure Fund
- Sprott Timber Fund
- Sprott Global Agriculture Fund
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Scooped by
Prentiss & Carlisle
July 3, 2013 2:02 PM
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According to Preqin's Funds in Market product there are 11 private equity timber funds currently raising capital. These funds are collectively targeting approximately $3bn in capital commitments. Of the 11 timber funds currently in market, six have held at least one interim close, having raised an aggregate $776mn in capital commitments so far. The average target size for timber funds in market is currently $408mn.
Of all the funds currently in market, six primarily focus on North America, collectively targeting almost $1.4bn and representing 47% of the total capital targeted. Three timber funds aiming to raise an aggregate $1.3bn are targeting investment opportunities outside of North America, Europe and Asia.
The largest Timber fund currently in market is Australia New Zealand Forest Fund 2 managed by New Forests. The fund, which is seeking AUD 800mn, held a first close in June 2013 with commitments totalling AUD 507mn. Australia New Zealand Forest Fund 2 invests in forestry and environmental assets in Australia and New Zealand.
The second largest timber fund in market by capital sought is Brookfield Timberlands Fund V. The fund managed by Brookfield Asset Management is targeting an aggregate $750mn for investment in timberland assets, primarily in the US, Brazil and Australia, but will also target opportunities in Canada, Chile, New Zealand and Uruguay.
The only timber private equity fund to have held a final close so far in 2013 is Brookfield Brazil Timber Fund II. The fund focuses on timber investment in Brazil and closed above its $200mn target having raised a total of $270mn in capital commitments.
In 2012, only three timber funds reached a final close having raised an aggregate $500mn in investor capital. Timber fundraising reached a peak in 2008, with five vehicles reaching a final close, having raised $2.9bn in commitments.
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Prentiss & Carlisle
June 5, 2013 8:53 PM
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April 18, 2013 8:34 AM
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Scooped by
Prentiss & Carlisle
November 10, 2012 8:06 AM
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The past 12 months have been a challenging period of fundraising for private equity vehicles investing in timber. Data from Preqin’s Funds in Market database, which tracks fundraising globally, documents the volatility in the market since the economic crisis. Timber fundraising reached a peak in 2008, with five vehicles reaching a final close, having raised $2.9bn in commitments. Comparatively, in 2009 five private equity vehicles closed, but only raised an aggregate $562mn in capital commitments. Timber fundraising returned to relatively healthy levels in 2010, with six vehicles closing having raised an aggregate of $1.7bn; however in 2011 fundraising decreased slightly, with five vehicles reaching a final close, having raised an aggregate $1.1bn in investor capital commitments. So far in 2012, only three funds have closed, having raised an aggregate $483mn for investment.
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Prentiss & Carlisle
August 10, 2012 9:56 AM
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Most private equity fund sponsors that are out raising money this year know it's an investor's market and are cutting fees to attract capital. ... Limited partners are receiving a greater share of the fees that portfolio companies pay to general partners, and they're demanding — often successfully — that GPs delay collecting any profit as portfolio companies are sold until investors are paid back their investments.
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Prentiss & Carlisle
August 1, 2012 8:16 AM
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Pope Resources announced today that its subsidiary, Olympic Resource Management LLC (ORMLLC), has closed ORM Timber Fund III, a private equity timber fund with $180 million of committed capital, $9 million of which will be co-invested by Pope Resources. ORMLLC is actively looking for timberland properties to acquire on behalf of the fund, which will invest in commercial timberlands in the Pacific Northwest region of the U.S.
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