Four Australian super funds invest in Nuveen’s open-ended U.S. Cities Workplace Fund

Australian super funds — Cbus, Hostplus, TWU Super and a fourth that was not identified — have collectively invested $190 million into Nuveen’s open-ended U.S. Cities Workplace Fund.

The U.S. Cities Workplace Fund is a sector-specific strategy focused on investing in institutional-quality office assets with healthcare and technology themes. According to Nuveen, the strategy targets U.S. cities Nuveen believes are best-positioned for demographic and structural growth. It focuses on resilient themes centered around healthcare and technology, investing in medical office, life sciences, technology R&D and studio production properties.

According to the Australian Financial Review, the collective investment by the super funds follows two years of discussions with Nuveen. The fund is now said to be valued in the hundreds of millions.

“The medical office, life science and tech research and development space are established sectors in the U.S. that a