Henderson forms global real estate venture
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.
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.