Aug 08, 2012. /Lesprom Network/. US financial services firm TIAA-CREF has taken a majority stake in one of the country’s leading timberland investment management organisations, GreenWood Resources, as TTJ reported. GreenWood manages US $350 million-worth of timberlands around the world, specialising in short-rotation, fast-growing species such as poplar and eucalyptus, as well as acacia and pine. TIAA-CREFF total timberland investments, incuding GreenWood, are now worth US $1.8 billion, covering 840,000 acres. It said macroeconomic conditions, including a growing population and increasing demand for timber and biofuels made wood a compelling long-term investment. "Parnering with TIAA-CREF will allow us to accelerate our investments in innovation, grow our platform and take advantage of attractive new markets to best meet our clients' needs," said GreenWood's CEO Jeff Nuss.