Silver Creek Capital Management and Plum Creek Timber Launch $1 Billion Joint Venture – Twin Creeks Timber
Silver Creek Capital Management (“Silver Creek”), an alternative investment boutique focusing on private credit, hedge fund and real asset strategies, announced today the launch of a new joint venture with Plum Creek Timber Company (NYSE: PCL) (“Plum Creek”), Twin Creeks Timber LLC (“Twin Creeks”), which enables institutions to directly invest in high quality timber assets.
Twin Creeks will provide institutional investors an opportunity to co-invest in timberlands currently managed by Plum Creek with the objective of growing the portfolio to approximately $1 billion in valuation over time through opportunistic, selective timberland acquisitions from third parties. The venture is intended to be a long-term timberland investment with an initial 15-year term. The initial portfolio, valued at $560 million, will consist of 260,000 acres of Southern U.S. timberland located in five states sourced from Plum Creek.
Plum Creek will retain a 25% interest in Twin Creeks and will serve as property manager of the timber assets. Silver Creek will provide fund management and fiduciary services to the venture.