In May, forestry investment management firm Veon trumpeted the sale of a 4,074ha portfolio as the “largest private sale of forestry in Irish history” and “a very positive development” for the 12,400 investors who owned the properties. Yet since they received their cheques in August, some of these shareholders have revolted and vowed to have the transaction reversed. French private equity firm AXA Investment Managers Real Assets bought the land and standing trees scattered across 185 estates around the country on behalf of clients, and contracted their operation to UK forestry management group Gresham House. Although the value of the…

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