Hogan Lovells has assisted Timberland Investment Resources Europe (TIR) in setting up its second investment vehicle in Luxembourg.
The firm helped TIR, one of the few private investment management firms that offers investment solutions in the forestry sector, to set up a Reserved Alternative Investment Fund (RAIF). The Hogan Lovells team advised on the initial structuring of the fund, including tax, through to the first closing of the fund, which occurred in January 2020 for circa EUR 75 million. The current target is to double this amount by the end of the year.
This fund is one of a few on both sides of the Atlantic investing in timberland and forestry assets.
This work shows the client’s continuous trust in Hogan Lovells. The firm previously advised TIR on the launch of their first Luxembourg fund (TIR Europe Forestry Fund) in 2016.
The Hogan Lovells Luxembourg team was led by Pierre Reuter (partner) and included Simon Recher (associate), Mathilde Soetens (trainee), with support from the London team led by Erik Jamieson (partner) and Ollie Phillips (associate). On the tax side, the team included Gérard Neiens (partner), Jean-Philippe Monmousseau (counsel), Pierre-Luc Wolff (senior associate), and Grâce Mfuakiadi (associate).