BTG Pactual Timberland Investment and British Columbia Investment Management Corporation have created a platform company focused on building exposure to southeastern US timberlands.
The duo have set up Caddo Sustainable Timberlands, a platform comprised of 772,000 acres of sustainable forestry initiative certified timberlands in the markets of East Texas and West Louisiana.
Caddo Sustainable is led by John Lock as president and Patrick Chambless as chief financial officer.
Lock was a region manager for Arkansas and Texas for an institutional timberland management company and Chambless was a financial reporting manager for a Texas institutional timberland management company.
Gerrity Lansing, head of BTG Pactual Timberland Investment and Caddo Sustainable board director, said: “We’re thrilled to once again be partnering with BCI, one of the largest institutional investors in Canada, who shares our long-term commitment to the deep and diverse market of East Texas, as well as our emphasis on environmental and social sustainability.”
Sameer Jinnah, managing director at British Columbia Investment Management Corporation, said: “British Columbia Investment Management Corporation is an active investor in the timberlands sector and Caddo Sustainable is an example of our commitment to a market that can generate attractive risk-adjusted returns for our clients over the long term.
“We are excited to be working with trusted partners to continue to increase our exposure to high-quality, sustainably managed forests in core markets.”
Lock said: “Having previously spent 22 years of my career managing the assets that comprise the Caddo Sustainable Timberlands, I am very familiar with the significant economic, conservation and environmental contributions these properties have made to wood consumers, East Texas communities and the forest industry, as well as the need to continue that legacy.
Our team at Caddo Sustainable is committed to delivering exceptional stewardship, sustainability, and value through the implementation of science-based forest management practices that promote healthy, vigorous forests while protecting water quality and critical habitats.”
Chambless said: “We are striving to build a best-in-class organisation that generates immediate yield on investment for our shareholders, while sustainably managing our portfolio and implementing the highest standards of environmental, social and corporate governance.”
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