TSX/NYSE/PSE: MFC SEHK: 945
Now manages nearly 1 million acres in the Western Gulf region
on behalf of clients
BOSTON, Sept. 2, 2021 /PRNewswire/ - Hancock Natural
Resource Group (HNRG), a company of Manulife Investment Management,
announced today 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. (NYSE:CTT) 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.
"We're pleased to announce the closing of these timberlands in
Texas," said Tom Sarno, global head of timberland
investments, Manulife Investment Management. "Our team is very
experienced in this region and was able to provide key insight and
validate our initial assumptions. We believe the assets are very
well positioned to benefit from the already deep markets, reliable
off takers, and favorable timber growth attributes with additional
opportunities provided by recently announced mill investments in
the region. We have confidence that the investment is well
positioned for long-term success and we look forward to managing
the property on behalf of our client. This marks the fourth
timberland acquisition our team 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 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.
About Manulife Investment Management
Manulife
Investment Management is the global wealth and asset management
segment of Manulife Financial Corporation. We draw on more than a
century of financial stewardship and the full resources of our
parent company to serve individuals, institutions, and retirement
plan members worldwide. Headquartered in Toronto, our leading capabilities in public
and private markets are strengthened by an investment footprint
that spans 18 geographies. We complement these capabilities by
providing access to a network of unaffiliated asset managers from
around the world. We're committed to investing responsibly across
our businesses. We develop innovative global frameworks for
sustainable investing, collaboratively engage with companies in our
securities portfolios, and maintain a high standard of stewardship
where we own and operate assets, and we believe in supporting
financial well-being through our workplace retirement plans. Today,
plan sponsors around the world rely on our retirement plan
administration and investment expertise to help their employees
plan for, save for, and live a better retirement.
As of June 30, 2021, Manulife
Investment Management had CAD$1.0
trillion (US$834 billion) in
assets under management and administration. Not all offerings
are available in all jurisdictions. For additional information,
please visit manulifeim.com.
About AP3
AP3 is one of four buffer funds that manage
capital on behalf of the Swedish state pension system. The fund had
SEK 466,9 billion of assets under
management as of June 30, 2021.
AP3 is tasked by Swedish Parliament with generating maximum
possible benefit for the state pension system by managing its fund
capital responsibly and delivering strong investment returns at a
low level of risk. For more information, see www.ap3.se
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SOURCE Manulife Investment Management