Timberland Investment Resources Europe LLP Successfully Executes the First Closing of the TIR Europe Forestry Fund with European Institutional Investors
LONDON, September 21, 2016
Timberland Investment Resources Europe LLP (TIR) successfully executed a first close of its TIR Europe Forestry Fund with an initial $74m of committed capital.
A diverse, mostly European group of limited partners made initial commitments to the Fund, including public and private pension plans, insurance companies and family offices. The extensive experience of the team at TIR and the compelling yield, uncorrelated returns and sustainability characteristics of timberland investing were key reasons for their commitments.
TIR are known for their value oriented approach and will be targeting 8-10% returns with 3% annual distributions – in line with the results achieved over the decades of experience in investing in the space and the current outlook for the timber markets.
GianPaolo Potsios – Managing Partner – commented: “We are excited to be able to offer European institutional investors access to an asset class that is well established amongst US investors in a time where the world economy continues on its uncertain path. Real assets such as timberland have a compelling role to play in an investor’s portfolio given the bond-like characteristics with a solid source of alternative yield.”
Hugh Humfrey – Managing Partner – commented: “For our new investors we will continue to weight on our over two decades of experience in managing timberland investments and the network created to source the best opportunities whilst pursuing the highest environmental stewardship and expertise in managing the forests. We have our in-house economic and biometric research methodologies to inform and guide our investment decision-making process and remain boots on the ground foresters while assisting our investors achieve their portfolio objectives.”
Timberland Investment Resources is an independent investment management partnership specialising in forestry. The company’s management is entirely dedicated to providing investors with superior risk adjusted returns through the acquisition, responsible management and sale of forestry and related assets. The firm currently manages approximately $1.5bn on behalf of endowments, insurance companies, pension funds and a range of other institutional investors.