Manulife Investment Management closes on more than 300,000 acres of Texas timberlands
Hancock Natural Resource Group, a company of Manulife Investment Management, announced 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.
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.
It marks the fourth timberland acquisition that Manulife has closed in 2021, including two eucalyptus plantations in Brazil and an impact-first investment in Maine along the Quebec, Canada, border.
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 strategi