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AustralianSuper appoints TIAA Henderson Real Estate as Investment Manager

TIAA Henderson Real Estate has been appointed as Investment Manager to AustralianSuper, the AUS$75bn Australian superannuation fund, for its emerging Central London office property investment strategy.

TIAA Henderson Real Estate (TH Real Estate), the global real estate fund manager owned 60% by TIAA-CREF and 40% by Henderson Global Investors has been appointed as Investment Manager to AustralianSuper, the AUS$75bn Australian superannuation fund, for its emerging Central London office property investment strategy.

The mandate follows the appointment of TH Real Estate, as Investment Manager in 2013 by AustralianSuper for its entry into the UK shopping centre market, which completed an initial £270m acquisition in December 2013.

AustralianSuper, Australia’s largest industry superannuation fund, is committed to significantly grow its global property investment portfolio over the next five years. It currently owns AUS$6bn real estate portfolio across Australia, the UK and elsewhere.

TH Real Estate has built up a AUS$1.5bn plus portfolio of office assets across Central London including developments and standing investments. The investment portfolio is in excess of 186,000 sq m, and the TH Real Estate UK office team has a strong reputation and enviable track record as a skilled investor in the Central London market. Testament to its expertise in this market, the TIAA Henderson Central London Office Fund has been awarded the UK’s Association of Real Estate Fund’s five Year Risk Adjusted Relative Performance Award for the past two years.

Nick Evans, Head of Australia for TH Real Estate, commented: “We are delighted to have been awarded a second mandate by AustralianSuper, which is testament to our expertise in the UK office and retail sectors. We are building a collaborative working relationship with sophisticated clients and partners in Australia, and we are committed to building a sustainable business in this important marketplace.”

Nick Deacon, Director of Central London Offices, TH Real Estate, said: “Our experience of investing into the Central London office market, on behalf of a variety of clients and funds gives TH Real Estate the ability to identify and source the best stock to meet the requirements of AustralianSuper.”

Jack McGougan, Head of Property at AustralianSuper said: “This mandate is an ideal fit for AustralianSuper. The UK office market – Central London in particular – sits well with our investment approach. It has a record of strong returns over the long term, transparency, good liquidity and a positive overall economic outlook, among a range of attributes. In addition, TIAA Henderson Real Estate brings the right level of experience and approach to its role as Investment Manager. Our existing relationship has reaffirmed our confidence in the capabilities of the organisation and its alignment with the AustralianSuper philosophy.”

Clive Castle, Director of Central London Offices, TH Real Estate, added: “With a rapidly changing occupier base, it is essential to stay ahead of the trends and adapt ones strategies accordingly. Rather than ‘chasing the pack’, we like to do things differently. We combine our intuition and experience to source opportunities to meet and exceed our clients’ objectives and utilise our in-house development expertise to deliver both new and improved world class buildings back into the market at the right time. We look forward to leveraging off this experience in order to deliver value for this important client as they enter this exciting sector.”

Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority.TH Real Estate is a name under which Henderson Real Estate Asset Management Limited provides investment products and services.

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