Investing - Brookfield Asset Management

Growth in Timber – Brazil
• Significant potential in the Brazil timber market
– Strong civil construction activity
• Increasing home ownership rates
• Preparations for FIFA World Cup and Olympic events
• Brazil timberlands are very attractive
– Rapidly growing, competitive and well capitalized range
of converting industries
– Deep and growing economy
– Reasonable land prices – can buy well outside of auctions
• ~$215 million (77%) in Brazil Timber Fund is now invested
– 16% gross IRR 1 since inception
Ownership has doubled since 2009 to 98,000 ha across four Brazilian states
1 Gross IRR does not reflect management fees, carried interest, taxes, transaction costs and other expenses typically borne by investors in private funds,
which in the aggregate reduce the actual returns experienced by an investor.
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