TIAA-CREF Purchases Remaining Stake in TIAA Henderson

April 28, 2015 7:30 PM

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Financial-services giant TIAA-CREF is buying the 40% stake in asset manager TIAA Henderson Real Estate it doesn’t already own for £80 million ($122.7 million) as part of its broader move into managing money for sovereign-wealth funds, pension funds and other institutions.

London-based TIAA Henderson has about $26 billion in real-estate assets under management in Europe, Asia and Australia. TIAA-CREF, which separately manages $56 billion in real-estate assets in the Americas, bought its controlling 60% stake about one year ago from Henderson Global Investors for about...

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