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TIAA-CREF officially brands new structure

The pension fund has made its integrated agri, timber, real estate, infrastructure and energy asset management business official.

TIAA-CREF has officially branded its asset management business to TIAA Global Asset Management (TGAM) after telling Agri Investor last month of plans to form a “standalone” real assets business unit, combining its agri asset manager Westchester, timber subsidiary GreenWood Resources, TH Real Estate and Churchill Asset Management.

TGAM manages $854 billion in assets, is designed to have a “multi-boutique structure”, and has investments in more than 40 countries, according to a press release.

“When we invest in international jurisdictions we have our own international management company that is integrated from the portfolio level all the way to the asset level,” timber and agriculture portfolio manager Biff Ourso told Agri Investor in an interview this week on timber investment, suggesting the new structure would also help TIAA-CREF manage risk and ESG issues closely.

“We know how operations are carried out and that we are employing the right people to make decisions for the asset and the community.”

TGAM chief executive officer Rob Leary said in a statement: “The new brand recognises that we serve a wide range of investors around the world, from retirement plan sponsors and participants to high net worth individuals, financial advisors and some of the world’s largest institutional investors. It also speaks to our commitment to continue growing the business across geographies.”