TIAA-CREF has opened a new distribution office for TIAA-CREF Asset Management in Sydney, Australia, 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.
Speaking ahead of the TIAA-CREF Asset Management Real Assets and Responsible Investing Roundtable in Sydney today, 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 to-date focused on agriculture, and more recently, 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,” Mr Panagakis said.
“Andrew brings to his new role deep knowledge of the institutional investing landscape in the region and a proven track record of developing strong client relationships. He will be a great resource for our asset management business going forward.”
Today’s announcement builds on TIAA-CREF’s global asset management platform which consists of USD866 billion invested across a full array of strategies including equity, fixed income, real estate and other real assets, private equity and private credit strategies. In September 2014, TIAA-CREF opened a distribution in office in London to expand relationships with UK and European clients and prospects.
TIAA-CREF Asset Management’s growing presence in Australia and Asia includes direct investments in the region, as well as existing business relationships with a wide range of institutional clients. TIAA-CREF’s 60 percent-owned real estate joint venture, TIAA Henderson Real Estate (TH Real Estate), has offices in Singapore and Sydney, as well as approximately USD700 million of real estate investments in the region through outlet malls in China, office and retail buildings in Australia and an additional asset in Thailand. TIAA-CREF’s agricultural asset management affiliate, Westchester Group, operates seven offices across the primary Australian growing regions.
Mr Kleinig brings more than a decade of global business development and client relations experience from traditional and alternative asset managers to his new role at TIAA-CREF. He joins TIAA-CREF from Nanuk Asset Management, where he was head of sales and investor relations. He was previously a senior sales and consultant relations manager at GE Asset Management, having also held client relations roles at SEB Asset Management, Deutsche Bank and the Commonwealth Bank of Australia.
Mr Kleinig is part of a global sales team responsible for building partnerships with institutional clients including insurance companies, sovereign wealth funds, superannuation funds, pension schemes and other major investors. He will work closely with the TH Real Estate team in Australia, which will continue to handle distribution for all real estate strategies and manage TIAA-CREF’s real estate holdings in the region. TIAA-CREF and TH Real Estate will move into a shared office this month, to accommodate the expansion of both businesses in the region.
