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 (鈧�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鈥檚 Cross, London.
As part of its global core strategy, Australia鈥檚 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: 鈥淲orking with TH Real Estate has delivered some great outcomes for our members.
鈥淎ustralianSuper looks forward to expanding the mandate into the broader European market.鈥�
McGougan said the move underlines AustralianSuper鈥檚 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: 鈥淎ustralianSuper have established themselves as discerning and strategic investors with their acquisition of the 50% stake of thecentre:mk and 67% stake in King鈥檚 Cross, London.
鈥淲ith 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.鈥�
TH Real Estate is a subsidiary of Nuveen, the investment management arm of US financial services group TIAA.
