Last updated: 15:16 / Thursday, 27 June 2013
Associated With TIAA-CREF

Henderson Signs an Agreement to Form a Real Estate Fund of USD 20 Billion

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Henderson Signs an Agreement to Form a Real Estate Fund of USD 20 Billion

TIAA-CREF, a leading financial services provider, and Henderson Global Investors agreed to launch a new global real estate investment management company, TIAA Henderson Global Real Estate. The new company will offer clients expanded investment opportunities in the global real estate market while helping to accelerate the growth of each firm’s real estate business.

The combined total of real estate assets under management for TIAA-CREF and the new venture is $63 billion.

TIAA Henderson Global Real Estate will consist of TIAA-CREF’s European real estate business, Henderson’s European and Asia Pacific-based real estate businesses, and a new global distribution and client service organization

TIAA-CREF will hold a 60 percent interest and Henderson a 40 percent interest in the new venture, the U.S. real estate fund of Henderson is entering the English management with 175.4 million dollars (114 million pounds).

Pending regulatory approvals and customary conditions, the transaction is expected to close in the first quarter of 2014.

 

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