Clarifying Inaccurate Press Coverage Of Shanda Asset Management Land Ownership

Monday, January 15, 2024. Redwood City, Calif. Shanda Asset Management, LLC., the family office and private investment firm of Tianqiao Chen and his family, wishes to clarify inaccuracies and omissions in recent media reporting about the company’s ownership of forest land in Oregon.

Media reports have focused on Shanda’s acquisition in 2015 of 198,000 acres of forest located in Oregon from Fidelity National Financial Ventures. Prior to the purchase and guided by a leading, global law firm, Shanda (formerly known as Whitefish Cascade Forest Resource, LLC) endeavored to strictly adhere to all legal requirements and procedural norms for the purchase. This included but was not limited to, the company proactively requesting a review of the potential acquisition by the Committee on Foreign Investment in the United States (CFIUS). After a thorough examination, CFIUS concluded its review with no findings of national security concerns.

Shanda is the proud owner and steward of this land and over the last eight years, has continued timber operations and focused on ensuring forest health. A U.S. company, we are an active participant in the Deschutes Collaborative Forest Project, we offer public access for outdoor recreation and work closely with the Oregon Department of Fish and Wildlife to provide exclusive hunting opportunities for disabled veterans and young people. The company also donated ten acres to the Crescent Rural Fire Department to house a community center and headquarters for the fire department.

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