Overview
Forest Investment Associates, formed in 1986, is a Registered Investment Adviser providing
investment management services for forest investors. Operating out of Atlanta, Georgia, U.S.
headquarters and multiple U.S. field offices, along with offices in Brazil, Chile, and Mexico,
FIA acquires and manages forest investment portfolios for commingled fund and separately
managed account clients.
Forest Investment Associates is majority owned and controlled by Forest Investment
Associates, LLC. No individual directly or indirectly owns or controls more than 25% of
Forest Investment Associates. FIA’s Executive Committee is comprised of the following
persons:
• Michael Cerchiaro - President & CEO
• Andrew Boutwell - Senior Managing Director, Head of Investment Management
• Darcy Austin – Managing Director, Head of Client Accounting
• MaryKate Bullen – Managing Director, Head of Business Development &
Sustainability
• Christina Purcell – Managing Director, Head of Corporate Finance & Human
Resources
FIA’s overall management objective is to maximize the value of each client portfolio through
capital appreciation from optimal forest productivity and cash flows from timber harvests.
Our experienced foresters, analysts and specialists combine financial management skills
with the latest forest science and technology to achieve this objective.
In managing forest investment portfolios, FIA selects properties specific to the needs of the
particular
client. FIA seeks to build portfolios that are diversified across various criteria,
including:
• Geographic location
• Timber species
• Timber age
Hunting, recreation, mitigation, conservation, renewable energy and other non-timber
income sources provide opportunities for adding value, and we work to maximize these
sources. FIA’s business knowledge and expertise is not limited to forestry, and we seek to
proactively identify and implement alternative land uses, timberland sales and other value
growth opportunities based on local market dynamics.
FIA has four commingled funds (hereinafter, the “Funds”) listed below. The Funds are
exempt from registration under the Investment Company Act of 1940. They are managed in
accordance with their own investment objectives, strategies and guidelines and are not
tailored to the individual needs of any particular investor in the Funds. Therefore, investors
must consider whether the Funds meet their investment objectives and risk tolerance prior
to investing. Detailed information about the Funds can be found in each respective Fund’s
private placement memorandum.
• FIA Timber Growth Partners, LP
• FIA Timber Partners II, LP
• FIA Timber Growth and Value Partners, LP
• FIA Timber Growth and Value Partners A, LP (Parallel Fund)
As of December 31, 2023, FIA had $4,796,943,377 in discretionary assets under
management, and $244,774,453 in non-discretionary assets.