AustralianSuper has expanded its relationship with TH Real Estate by hiring the investment manager to advise on opportunities in the office and retail sector in Europe.
The A$130bn (€81.5bn) Australian superannuation fund first appointed TH Real Estate in 2013.
TH Real Estate helped the fund grow its UK property investment portfolio by advising on the acquisition of a 50% interest in thecentre:mk in Milton Keynes and a 67% stake in King’s Cross, London.
As part of its global core strategy, Australia’s largest superannuation fund, targets European office and retail property in the prime and super-prime sector. It currently manages a property portfolio of around A$10bn.
Jack McGougan, the head of property AustralianSuper, said: “Working with TH Real Estate has delivered some great outcomes for our members.
“AustralianSuper looks forward to expanding the mandate into the broader European market.”
McGougan said the move underlines AustralianSuper’s commitment in pursuit of its strategy to acquire core assets in major international cities with trusted and experienced local partners.
Myles White, the head of Retail at TH Real Estate, said: “AustralianSuper have established themselves as discerning and strategic investors with their acquisition of the 50% stake of thecentre:mk and 67% stake in King’s Cross, London.
“With retail becoming more polarised and sophisticated; and the office occupier market booming in several European markets, now is the perfect time to expand the successful UK strategy into mainland Europe.”
TH Real Estate is a subsidiary of Nuveen, the investment management arm of US financial services group TIAA.
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