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SYDNEY & DUNEDIN, New Zealand and NEW YORK – ( BUSINESS WIRE ) – The Director of Forest Investments, New Forests, is pleased to announce
Australia New Zealand Forest Fund 2 (ANZFF2) has acquired a
participation in Wenita Forest Products Ltd. (Wenita) and full ownership
of the Otago Land Company, which owns 22,500 hectares of freehold land
Wenita operates through forest rights. New Forests acquires
the assets of The Rohatyn Group (TRG), a specialized asset management
firm specializing in emerging markets and real assets,
acquired Wenita's interest in a joint venture with
China Sinotrans logistics company and 100% OLC land in 2006.
The transaction marks the successful completion and full investment of
the ANZFF2 fund of AUD 707 million. "The Wenita transaction is an important step
for our ANZFF series of forest funds we are completing the full investment of
ANZFF2, ensuring a significant scale in the two target countries of Australia
and New Zealand, "noted Mark Rogers, General Manager of New Forests & # 39;
Australia-New Zealand Business. "The new forests have been selective and
disciplined in creating the ANZFF2 portfolio. The acquisition of Wenita
complete exposure of hardwood and softwood plantations
Australia and brings our estate in New Zealand to over 48,000 hectares
in total."
Wenita is the largest softwood producer of Otago in New Zealand
area with an area of 29,200 hectares cultivates mainly radiata pine.
Wenita maintains Forest Stewardship Council® certification
responsible forest management and has high standards for care
the environment, worker safety and the quality of its forests and timber.
TRG partner Ian Jolly said, "The ultimate success of this investment for
TRG was the result of a significant direct involvement in the
plantation management, including setting up its activity
model and an extremely collaborative relationship with Sinotrans. the
At the time of the acquisition, Wenita's estate was exhausted,
operating costs and relatively low yields. During our property,
inventory has recovered, yields are greatly improved and
the costs have dropped considerably because the harvest is now in the second
rotation. We are delighted to deliver a strong yield realized from this
investment to our customers. "
New Forests Portfolio Manager Matthew Crapp commented: "Wenita manages
a high quality forest resource that will be an important asset
ANZFF2 wallet. The New Forests approach in New Zealand
Work with quality forest managers to regularly build the value of the asset,
improve the health and productivity of forests, and ensure that our
operated responsibly and sustainably. In this regard, we look forward to
to work with Wenita's management team and the
shareholders. "
Targeted New Zealand investment funds from New Forests in Australia represent
more than AUD 2.75 billion of forest assets and processing. New
Forests is currently investing its Australia New Zealand Forest Fund 3,
which has capital commitments of 873 million Australian dollars
pension funds and pension funds.
"New forests continue to see attractive institutional investments
opportunities to support the stable and long-term management of forestry
assets in Australia and New Zealand, "said Rogers. "We stay
dedicated to building and managing world-class forest portfolios for
our customers in this region as well as bringing in more private
capital to our investment strategies in Southeast Asia and to our
investment program climate solutions for US forests, growing. "
New Forests manages 4.5 billion Australian dollars in assets and funds
management, with more than 940 000 hectares of forest, land and
conservation investments in Australia, New Zealand, Southeast Asia and
United States.
About New Forests
As global demand for resources increases, it is necessary to increase
productivity while preserving the rest of the world
natural forests. New Forests seeks to create investment strategies
provide sustainable solutions to this challenge. Through responsible
forest management and other real assets, we create shared benefits
for investors and local communities. New Forests at international
reach, with offices and assets in Australia, New Zealand, Southeast
Asia and the United States. To learn more, visit www.newforests.com.au.
About TRG
Founded in 2002, The Rohatyn Group is an asset management company
expertise in emerging markets and real assets headquartered in New York,
with offices around the world, including Boston, Singapore, Seoul,
Rotorua, London, Buenos Aires, Lima, Montevideo, Mexico City, São Paulo,
Mumbai and New Delhi. The company has acquired its forestry and agriculture
the company, formerly operating as GMO Renewable Resources LLC and
currently manages over 600,000 hectares of rural assets
December 2017. For more information, visit www.rohatyngroup.com.
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