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TIAA-CREF Asset Management expands distribution focus in Australia
US retirement provider TIAA-CREF announced the opening of its new distribution office in Sydney for its asset management business today.
The office will build on TIAA-CREF's global asset management platform which consists of US$866 billion ($1.28 trillion) invested across strategies including equity, fixed income, real estate and other real assets, private equity, and private credit strategies.
TIAA-CREF Asset Management's head of business development, John Panagakis, said the new office was the next step in the firm's eight-year history in the Australian market, which has focused on agriculture, and real estate.
"TIAA-CREF Asset Management continues to build out its global distribution capabilities to serve clients that seek specialised investment expertise in real asset, real estate, and responsible investing strategies," he said.
The financial services firm's growing presence in Australia and Asia includes direct investments in the region along with existing business relationships with a wide range of institutional clients.
The asset management office will be led by Andrew Kleinig who will direct distribution strategy in Australia and Asia while providing a local point of contact for TIAA-CREF investment capabilities and products for existing clients in the region.
Kleinig was most recently head of sales and investor relations at Nanuk Asset Management.
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