London-based Gresham House will acquire a majority stake in Mississippi-based Molpus Woodlands Group, creating a new investment manager with $8 billion in assets under management and making it the third-largest Timberland Investment Manager behind Manulife Investment Management (Hancock Natural Resource Group) and Campbell Global (J.P. Morgan Asset Management).
Wood Central understands that the transaction, announced overnight, brings Gresham House’s $5 billion (£3.7 billion) forestry portfolio with Molpus Woodlands Group’s $3 billion (£2.3 billion) in US timberland assets, creating a platform managing more than 2.2 million acres across the United Kingdom, Ireland, the United States, Australia and New Zealand and marks Gresham House’s first acquisition in the United States.
“The acquisition of Molpus Woodlands Group will significantly expand our global client offering and deepen our investment and operational capabilities,” said Tony Dalwood, Gresham House’s CEO. “The Molpus Woodlands Group team brings outstanding on-the-ground forestry expertise, a demonstrated track record, and deep client relationships in their markets, which are a key area of growth for us.”
Molpus Woodlands Group was founded in 1905 and currently manages approximately 1.9 million acres of timberland across 15 states as a registered US investment adviser. Its leadership team — comprising Terrell Winstead, Michael Cooper, George Dahduh, Tyler Rosamond, Chad McElvany and Ashley Harris — will continue to lead US operations and join the Gresham House Global Executive Management Team and Investment Committees for the enlarged forestry platform.
“We are excited to join the Gresham House team,” Terrell Winstead, President of Molpus Woodlands Group, said. “By combining our strengths, we seek to create a platform with the scale, depth of expertise and long-term mindset that should position us to deliver even greater value for our clients and to create meaningful opportunities for our teams.”
The two businesses have collectively raised $2.5 billion in timberland mandates since 2020, including more than $1 billion in 2025 alone. The combined business will remain privately owned, with financial terms undisclosed and the transaction subject to customary regulatory approvals. “As natural capital increasingly becomes a component of global asset allocation, we seek to continue to build a differentiated, global platform with the necessary scale, capability and ambition to support our clients’ evolving needs,” Dalwood said.
The new deal comes after Gresham House flagged that 40 per cent of the firm’s forestry funds could be directed into Australia and New Zealand, with both countries’ Nature Repair Market and credit opportunities driving new investment.
