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.
Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.