CPP Investments Joins Nuveen Australian Real Estate Debt Strategy Over A$650 Million

Nuveen has reached the second close of its Australian commercial real estate debt strategy, securing commitments exceeding A$650 million, with total assets under management expected to surpass A$1 billion including approved co-investment capital. The Canada Pension Plan Investment Board (CPP Investments), through its subsidiary CPPIB Credit Investments Inc., invested A$300 million, joining Teachers Insurance and Annuity Association of America (TIAA) and Singapore’s Temasek as strategic partners. The strategy primarily targets institutional senior and junior loans secured by prime real estate, focusing on industrial/logistics and residential sectors, with selective investments in retail, office, and alternatives across major Australian cities. It leverages Nuveen Real Estate's global debt platform and Asia teams, led by Dugald Marr, and incorporates responsible investment processes including ESG factors such as waste reduction, climate risk analysis, and social aspects. CPP Investments highlighted Australia as a key market in Asia-Pacific, emphasizing the strategy's potential to deliver stability and attractive yields amid global volatility. The partnership reflects Nuveen’s capability to offer regionally tailored real estate debt solutions and aims to contribute to long-term returns for investors.