BOSTON, MA, February 4, 2011 — The Hancock Timber Resource Group has completed the acquisition of approximately 82,000 acres of timberlands in southwestern Washington from Weyerhaeuser Company.
Hancock Timber now manages more than 550,000 acres on behalf of its clients in Washington State, and more than 775,000 acres in the Pacific Northwest. As the world’s largest timberland investment management organization, it manages more than five million acres globally.
“We are continually seeking to secure high quality timberlands for our clients,” said Hancock Timber Resource Group President Dan Christensen. “These highly productive timberlands represent an excellent investment opportunity for our clients and we’re very pleased to be able to acquire them.”
The timberlands are stocked predominantly with hemlock and with Douglas-fir. They are two contiguous blocks, one in Pacific County and the other stretches across the Grays Harbor/Pacific County line.
About the Hancock Timber Resource Group
The Hancock Timber Resource Group, a division of Hancock Natural Resource Group, Inc., an operating company of Manulife Asset Management, manages more than five million acres of timberland across the United States as well as in Brazil, Canada, New Zealand and Australia. Additional information about HTRG may be found at www.hancocktimber.com.
Manulife Asset Management™ is the global investment management arm of Manulife Financial. Manulife Asset Management and its affiliates provide comprehensive asset management solutions for institutional investors and investment funds in key markets around the world. This investment expertise extends across a broad 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. As at March 31, 2011, assets under management for institutional clients were Cdn$211 billion (US$217 billion). Additional information about Manulife Asset Management can be found at 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 $478 billion (US$492 billion) as at March 31, 2011. 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.