KTCU forms $1bn JV

This is the third partnership between the Korean institutional investor and the global investment management giant to invest in real estate debt opportunities in the US.

TH Real Estate has formed a $1 billion joint venture partnership with Korean Teachers’ Credit Union (KTCU) to invest in commercial real estate loans in the US. TH Real Estate owns a 51 percent stake in the JV, with its share of capital being invested on behalf of the TIAA General Account. KTCU owns the remaining share.

The $26 billion Korean public pension has a 40 percent allocation to alternatives including private debt.

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