Plum Creek Timber Company Inc. has formed a joint venture, Twin Creeks Timber LLC, with several institutional investors to own and sustainably manage a portfolio of U.S. timberlands. Silver Creek Capital Management is the managing member and independent fiduciary of the JV. Initial investors include Washington State Investment Board, the Oregon Public Employees Retirement Fund, and the Alaska Permanent Fund Corporation. The initial portfolio, valued at approximately $560 million, will consist of 260,000 acres of Southern U.S. timberland located in five states sourced from Plum Creek. Plum Creek, who is managing Twin Creeks, will own 25 percent while the initial investors will have 75 percent.