BTG Pactual Brazil Timberland eyes April close on $750m – exclusive

The Brazil Timberland Fund I is raising the capital across four different onshore and offshore vehicles, according to SEC filings.

The asset management arm of Brazilian investment bank BTG Pactual is expecting to announce a final close of its Brazil Timberland Fund I in mid-April and is targeting a total of $750 million across four vehicles, Agri Investor has learned.

The bank has filed four different vehicles with the Securities and Exchange Commission to account for onshore and offshore assets and investors, according to a spokesperson who would not give more detail until the fund closes.

The latest filing details a $170 million raise for BTG Pactual Brazil Timberland Fund I D and a previous filing in November showed a $51.25 million raise for Fund I B. The amounts raised by Fund I A and Fund I C are not known.

BTG Pactual has more than 30 years of timberland management experience and currently manages 1.77 million acres of commercial timberlands in Latin America, the US, Europe and Africa, according to the company website. Assets and commitments under management are close to $3 billion.

The bank acquired Regions Timberland Group, a division of Regions Bank, in September 2013 to expand its timberland investment platform, making it the largest independent timberland manager in Latin America. The New York-based team advising on the deal was led by Proskauer M&A partner Daniel Ganitsky, Agri Investor learned.

“We are very excited by this acquisition as we have known the team for many years,” said Gerrity Lansing, head of timberland merchant banking, in a release at the time. “This acquisition immediately expands our footprint to several key geographies beyond Brazil.”

“Our current strategies focus on large assets in mature timberland markets that offer inflation-resistant returns, capital appreciation, and strong annual cash yields, as well as diversified assets in rapidly developing emerging markets where higher growth rates and strong domestic demand may offer higher returns,” reads the BTG website.