Word: timber
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Under the terms of the arrangement, HMC does not own the land on which the timber is located. Instead, the land is retained by the New Zealand Government...
Following the close of the deal, timber accounted for approximately 10 percent of Harvard’s $19.3 billion endowment, Meyer said. HMC also has positions in timber throughout the U.S. and Brazil and is considering purchasing other timber assets around world...
According to Meyer, Harvard owns a greater number of timber assets than its Ivy League counterparts. He cited Harvard’s timber assets as a partial contributor to the success of the endowment and said he hopes for “greater growth [in timber assets] in the future...
...think that timber as an asset class may be mis-priced. We believe we can get an 8-9 percent real rate of return from this investment,” Meyer said...
...most recent deal was brokered by Boston-based GMO Renewable Resources, an international Timber Investment Management Organization...