An Irish fund is offering opportunities to put money into growing teak in plantations in Brazil and Panama.
The Tropical High Grade Hardwood (Teak) Fund plc Irish Qualifying Investor Fund is offering institutional investors the opportunity to back greenfield teak plantations. The first closing date for the fund is February 28th.
It is expected to raise a minimum of $80 million in commitments.
The directors of Tectona G Capital, the investment adviser to the fund, include Michael Hayden, formerly of Dolmen Stockbrokers, and John Gilliland, a former chief executive of the overseas consulting arm of Coillte.
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* This article was amended on January 8th, 2013, to correct a factual error.
