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
AUSIEX has announced it will acquire FIIG, a specialist fixed income provider with $4.5 billion in funds under advice.
Platinum Asset Management has announced it is in discussions with a global alternatives fund manager regarding a possible merger to create an $18 billion firm.
JP Morgan Asset Management has appointed an ETF specialist from Vanguard as it seeks to expand its ETF range.
The alternative asset manager has expanded its Singapore office with a head of Asian distribution, representing a “critical step” for the Asian business, where it is seeking to launch new offerings.
