About TIA

IWC’s Timberland Investment Advisory (TIA) team facilitates investments in separate accounts, funds, or other ownership structures managed by specialized timberland operating partners (TIMOs) across the globe. TIA bridges the gap between institutional investors’ resources and the required knowledge throughout the due diligence and management phases of timberland and ecosystem restoration investments, either on a discretionary or non-discretionary basis.

Recognizing early on the benefits of working with local experts to increase pipeline and operating capabilities, IWC recommended clients to invest with TIMO partners in specific strategies and vehicles since 1998 and has built a network of preferred partners over the past 20+ years across all major timberland investment regions (especially the United States, Australia, New Zealand, Brazil, Chile, and Uruguay).

As of the end of 2021, TIA had USD 5.4 billion under advice and/or management on behalf of 15 clients who have committed to core sustainable forest management, afforestation, reforestation, carbon forestry, conservation, or ecosystem restoration strategies.

Today, TIA offers three main investment solutions:



Long-term advisory relationships regarding timberland and/or ecosystems restoration programs invested through externally managed investments including primary funds, co-investments, separate accounts, and secondary opportunities.


Commingled fund and separate account solutions where TIA has the investment discretion; an efficient solution to execute investment allocations, generally for investors seeking diversified but simple exposure to the asset class.


Case by case due diligence, performance review work, valuation assessment, ESG and climate change assessment, EU Taxonomy-alignment assessment, and SFDR-related data aggregation and reporting, etc.

TIA Services


Based on a structured and tested investment process, in-house analysis tools, customized management  systems, and strong and proven ESG credentials, TIA provides a full range of services from investment strategy to portfolio construction, due diligence, performance review, and strategic advice during the investment lifetime of both timberland and ecosystem restoration investments. Below is a non-exhaustive list of our services.



  • Investment Policy Statement
  • Short-term investment strategy and action plan
  • Deal sourcing
  • Operating partner selection
  • Asset specific due diligence
  • Financial model review
  • Assessment of forestry assumptions
  • ESG assessment
  • Climate change assessment
  • Nature benefit assessment
  • Carbon modeling
  • Wood supply agreement review
  • Terms and conditions negotiation
  • Investment recommendation
  • Portfolio inclusion.


  • Quarterly report package and calls
  • Strategy, portfolio, and/or asset review
  • KPIs setting and performance review
  • Carbon accounting
  • Operating partner review
  • Property visits
  • Risks analysis
  • Hold-sell analysis
  • Appraisal review and valuation assessment
  • Wood supply agreement review
  • ESG monitoring and reporting
  • EU Taxonomy-alignment assessment and SFDR-related data aggregation and reporting
  • Data storage and benchmarking
  • Timber markets research
  • Carbon markets research.

The TIA team

Our long-tenure team (currently 11 professionals) has complementary backgrounds linking investment management, natural resource management, forestry operations, financial analysis, and ESG.

We work cooperatively and are dedicated to our clients’ specific goals and preferences.

We pride ourselves to be skilled, proactive, and accountable hands-on timberland investment experts with in-depth knowledge of local markets and players.

TIA’s senior team can be seen below and you can learn more about all of TIA’s professionals by visiting IWC’s Team page.

Timberland characteristics and features

Institutional timberland investments characteristics

  • Sustainably managed timberland for biological growth and timber production to meet projected wood demand and avoid further reduction of natural forests
  • Constant and predictable biological growth – unique return driver uncorrelated with returns from other asset classes
  • Stable underlying land values
  • Typically, no downstream manufacturing investments
  • Typically, no or low leverage
  • Sustainable forest management certification (FSC and/or PEFC), documenting forestry practices, soil management, appropriate use of chemicals, clean water, biodiversity, and several social aspects.

Asset class main features

  • Portfolio diversification benefits through increased real asset exposure and low correlation with other asset classes
  • Attractive risk-adjusted returns
  • Annual cash yield and capital appreciation
  • Inflation hedging, especially against unexpected inflation
  • Positive contribution to investors’ climate, biodiversity, and other sustainability-related targets.