Henderson forms global real estate venture

25 June 2013
| By Staff |
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Big UK-based investment manager Henderson has joined with the US pension fund Teachers Insurance and Annuity Association — College Retirement Equities Fund (TIAA-CREF) to form a major real estate venture.

The agreement was announced late yesterday, with Henderson and TIAA-CREF having agreed to combine their European and Asian real estate businesses to form TIAA Henderson Global Real Estate.

The new joint venture will have assets under management of approximately US$19.8 billion.

In a related sale, Henderson will also sell its North American real estate business to TIAA-CREF.

Henderson will own 40 per cent of TIAA Henderson Global Real Estate.

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