Hancock Natural Resource Group (HNRG), a Manulife Investment Management Company, a global wealth and asset management segment of Manulife Financial Corporation, announced today (9-2-21) the closing of a transaction on behalf of its client, AP3, with TexMark Timber Treasury L.P. (Triple T), a joint venture managed by CatchMark Timber Trust, Inc.
AP3 is one of four buffer funds that manage capital on behalf of the Swedish state pension system. Under the terms of the agreement, HNRG acquired more than 300,000 pine timberland acres in eastern Texas through a U.S. subsidiary of AP3. The timberlands are located in 10 counties across the western coastal plain of Texas. With the closing of this transaction, Manulife Investment Management now manages nearly a million acres Western Gulf region on behalf of its clients.
In total, Manulife Investment Management manages approximately 6 million acres of timberland across the United States, Canada, New Zealand, Australia, Brazil, and Chile as part of its comprehensive private markets’ strategies. It also oversees approximately 400,000 acres of prime farmland in major agricultural regions of the United States and in Canada, Chile, and Australia.
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Manulife Investment Management closes on more than 300,000 acres of Texas timberlands