Nuveen secures $190m Australian investment into US Cities Workplace strategy

22 May 2023

Nuveen, one of the world’s largest asset managers, today announces that it has secured US$190 million investment into its US Cities Workplace strategy from four Australian institutional superannuation funds.

The new investors, which include Cbus Super, Hostplus and TWUSUPER, represent some of Australia’s largest superannuation funds. Hostplus and TWUSUPER were advised by JANA Investment Advisers, noting the diversification benefits of investing in sectors not readily available in the Australian market.

Together, Cbus Super, Hostplus and TWUSUPER manage over $176.5 billion of retirement savings on behalf of over 2.5 million members.

Nuveen’s US Cities Workplace strategy invests in alternative workplace assets, primarily across the medical office, life science, technology R&D and studio production sectors in American cities best positioned for demographic and structural growth. The strategy is built on the foundation of innovation, healthcare and technology demand drivers.

It sits within the firm’s global resilient series based on its core income strategy, and long- term capital growth potential. The underlying subsector selection provides strong diversification and its mission-critical attributes have proven particularly valuable through the pandemic period.

Andrew Kleinig, Managing Director and Head of Australia at Nuveen, said “For us, this is the exciting start of four new partnerships with institutions looking to generate long term income for their investees. Against a difficult economic background, we see fundamental opportunities in the US alternative workplace sector and look forward to sharing these with our new partners.

We are thrilled to be growing our Australian footprint and deepening relationships with local institutions who value our unique global and sectoral expertise.”