We develop and manage fully integrated, globally diversified, sustainable timberland portfolios that capitalize on our size and strong regional relationships for the benefit of our clients. Operating as Hancock Natural Resource Group, a Manulife Investment Management company, we’re the world’s largest global timberland investment managers for institutional investors, managing timberland across the United States and in Canada, New Zealand, Australia, and Chile.


We seek to invest in global timber assets to build risk-efficient portfolios across tree species, age classes, and end products.. We apply our extensive experience managing investments to drive complex acquisitions and achieve wholesale discounts. Our global research teams provide proprietary sector and asset class analysis to support our active portfolio management.

Our integrated property management reduces costs, enhances alignment of interests, seeks ways to optimize land, and ensures that commitment to sustainability carries through from investment strategy development to on-the-ground strategy execution.

As a steward of forest holdings, we’re committed to conducting all of our business activities in a manner that preserves and enhances the quality of our environment and local communities, empowers our people, and provides market-rate returns for our clients. We manage our assets as good stewards of the land, the environment, and the community on behalf of our investors. 

For more information, visit hancocknaturalresourcegroup.com.

Managed by

Thomas G. Sarno

Global Head of Timber Investments

Tom is responsible for the firm’s institutional timber investment program, including investment underwriting and portfolio management, acquisitions and dispositions, resource planning and analysis, client account management, economic research, and property management. Previously, he served as global head of timberland and farmland operations, where he developed and led large-scale, integrated, investor-owned, and third-party forestry property management platforms. 

Prior to that, he served as director of global timber operations. Tom has also served as senior portfolio manager, where he was responsible for account management and portfolio development for individually managed timber accounts, as well as pooled investment vehicles; and general manager, Southern Division and Mid-Atlantic region manager. In those roles, he led a team responsible for asset management, stewardship, and fiduciary oversight for managed assets in the South and Northeastern United States. Prior to joining the firm in 2004, Tom was a procurement manager for International Paper’s Pensacola paper mill and McDavid sawmill enterprise. Among other roles, he served as forest operations manager as well as forest analyst for Champion International Corporation.

  • Education: B.S. with honors, in Forest Resources and Conservation, University of Florida
  • Joined the company: 2004
  • Began career: 1995
Thomas G. Sarno

Tony Cascio, Ph.D.

Managing Director and Deputy Chief Investment Officer, Timberland

Tony is responsible for the development of new investment strategies and growth initiatives, client investment governance and identifying and mitigating risk exposures related to our timberland investment process, products and client investments. In addition, he is directly involved with business development activities, structuring investment management agreements, and designing timberland investment goals and constraints. 

Prior to that, he was Senior Vice President, Investments with Resource Management Service, LLC where he directed portfolio management, client relations, business development and investment research. Tony has chaired the NCREIF Timberland Committee. Tony was also a Captain in the U.S. Army Reserve.

  • Education: B.S. in Computer Science, James Madison University, M.S. Forestry, North Carolina State University, Ph.D. in Forestry, University of Georgia
  • Joined the company: 2016
  • Began career: 1988
Tony Cascio, Ph.D.

Key facts

  • Inception date


  • Strategy AUM (USD)


  • Category

    Private markets

  • ESG

    471,098 acres of sensitive lands protected

ESG statistics are as of December 31, 2019. All other information shown is as of March 31, 2021, unless otherwise indicated. Strategy-level information may differ from vehicle-specific information. Not all vehicles are available in all locations.

Data includes assets managed by Manulife Investment Management and its affiliates on behalf of Manulife’s Canadian and U.S. General Accounts and also certain third-party investors. AUM of Hancock Timber Resource Group, an operating division of Hancock Natural Resource Group, Inc., managed on a discretionary and non discretionary basis for the General Account, its affiliates and third party clients. Investment opportunities are offered to institutional investors through Hancock Natural Resource Group. 


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