BOSTON (July 13, 2012) — The Hancock Timber Resource Group has acquired 1.35 million acres of timberland from Portland, Oregon-based Forest Capital Partners, Hancock Timber President Dan Christensen said today.
Terms of the transaction, which closed today, were not disclosed. Hancock Timber is acquiring 376,000 acres in Louisiana, 573,000 acres in Oregon, 138,000 acres in Idaho and 264,000 acres in Washington.
The vast majority of Forest Capital Partners’ employees have accepted employment offers to join the Hancock Timber Resource Group.
“We are very pleased to acquire this large portfolio of timberlands. They are a natural fit for our clients and Hancock Timber—highly productive and well-managed by a company that, like us, places a strong emphasis on environmental stewardship. We look forward to continuing to manage these lands on a sustainable basis as working forests as well as maintaining the jobs associated with them,” Mr. Christensen said. “We welcome our new colleagues into the organization and embrace their skills and experiences as well as their institutional knowledge of the timberlands they have been managing.”
Mr. Christensen said that all of Forest Capital Partners’ timberlands are third-party certified as sustainably managed and that Hancock Timber intends to maintain the certification. All of Hancock Timber’s timberlands in North America, Australia and New Zealand are third-party certified.
Greenhill & Co., LLC acted as exclusive financial adviser to Hancock Timber Resource Group on this transaction.
The Hancock Timber Resource Group, founded in 1985, is a division of Hancock Natural Resource Group, Inc., an operating company of Manulife Asset Management. Based in Boston, it manages approximately 6.6 million acres of timberland across the United States and in Brazil, Canada, New Zealand and Australia on behalf of investors worldwide. Additional information about Hancock Timber may be found at www.hancocktimber.com. All of the Hancock Timber Resource Group’s timberlands in the U.S. are managed by its wholly-owned subsidiary, Hancock Forest Management.
Manulife Asset Management™ is the global asset management arm of Toronto-based Manulife Financial Corporation. Manulife Asset Management provides comprehensive asset management solutions for institutional investors and investment funds in key markets around the world. Manulife Asset Management also provides investment management services to affiliates’ retail clients product offerings of Manulife and John Hancock. This investment expertise extends across a full range of asset classes including equity, fixed income and alternative investments such as real estate, timber, farmland, as well as asset allocation strategies. Manulife Asset Management has offices with full investment capabilities in the United States, Canada, the United Kingdom, Japan, Hong Kong, Singapore, Taiwan, Indonesia, Thailand, Vietnam, Malaysia and the Philippines. In addition, it has a joint venture asset management business in China, Manulife TEDA. It also has operations in Australia, New Zealand, Brazil and Uruguay. John Hancock Asset Management, Hancock Natural Resource Group and Declaration Management and Research are units of Manulife Asset Management. Manulife Asset Management was named a 2011 Bond Manager of the Year finalist in the United States by Money Management Intelligence (MMI) and Best Asian Bond House by Asia Asset Management. As at March 31, 2012, assets under management were US$220 billion. Additional information about Manulife Asset Management may be found at www.ManulifeAM.com.
Manulife Financial is a leading Canadian-based financial services group operating in 22 countries and territories worldwide. For more than 120 years, clients worldwide have looked to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients around the world. We provide asset management services to institutional customers worldwide as well as reinsurance solutions, specializing in life and property and casualty retrocession. Funds under management by Manulife Financial and its subsidiaries were C$512 billion (US$512 billion) as at March 31, 2012. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.