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.

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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.