Three Tree invests for $500 million in Texas timberlands
The Third Swedish National Pension Fund (AP3) invests $500 million through Three Tree Holding LLC (Three Tree) in eastern Texas timberland. In total approximately 300 000 acers of timberland have been acquired from TexMark Timber Treasury Inc. (“Triple T”), a joint venture managed by Catchmark Timber Trust (NYSE:CTT).
”This investment is part of AP3s strategy to build a sustainable and robust portfolio – a portfolio that can deliver good returns also under negative climate scenarios. We see great potential in our strategic collaboration with Hancock Natural Resource Group (HNRG) – it will enable us to contribute more to the long-term supply of sustainable forestry products.”, says AP3s Head of ILS & Timberland Investments, Dan Bergman.
Contacts
For any further information, please contact:
Lil Larås Lindgren, Head of Communications, Tel: +46 (0)8 555 17123 lil.lindgren@ap3.se
Dan Bergman, Head of ILS & Timberland Investment, Tel: +46 (0)8 555 17122 dan.bergman@ap3.se
Lil Larås LindgrenChef Kommunikation
Tel:08 555 17 100Tel:0709 517 223lil.lindgren@ap3.seImages
About AP3 Tredje AP-fonden
Three Tree is an American timberland company wholly owned by AP3. The company manages and invests sustainably for the long term in North American timberland assets.
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 at 30 June 2021. AP3 is tasked by 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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