New York–based TIAA Global Asset Management has raised $1.5 billion for its open-end real estate investment vehicle, the TIAA-CREF Real Property Fund.
The fund has received backing from 12 investors, according to an SEC Form D filed on Sept. 27. The fund was launched in April 2016.
In 2016, TIAA-CREF announced its plan to form a new business unit, focused on expanding its real assets capabilities. The division includes the firm’s global real estate, agriculture, timber, infrastructure and energy teams and operates as a stand-alone business unit.
