The global asset manager has announced it is broadening access to its global real estate strategy for local wholesale investors.
Nuveen has expanded access to its Global Cities Real Estate Fund, making it available to Australian wealth investors.
In a statement on 9 December, the firm said access will be provided through its Australian-domiciled feeder vehicle, the Nuveen Global Cities Private Real Estate Fund, supported by a newly registered product disclosure statement (PDS).
Currently accessible through platform providers such as Netwealth, Mason Stevens, CFS, and Praemium, the fund will now allow its existing Australian wholesale investors to invest alongside major private banks and wealth managers.
Commenting on the announcement, Andrew Kleinig, Nuveen’s head of Australia, said the expansion further democratises access to high-quality global real estate, an asset class traditionally limited to institutional investors.
“With fundamentals turning positive across key global city markets, we believe this is an opportune time to bring the strategy to Australia’s wealth audience,” Kleinig said.
He added that the move reflects rising demand from family offices, private wealth advisers, and high-net-worth investors for diversified, lower-volatility solutions that deliver strong risk-adjusted returns.
According to Nuveen, the fund is a perpetual-life vehicle aimed at providing long-term risk-adjusted returns, steady income, and capital preservation through investments in global private commercial real estate via its US-domiciled master fund.
Its assets are diversified across industrial, healthcare, and retail sectors, with allocations in North America, Europe, and Asia-Pacific concentrated in the top 2 per cent of global cities.
Richard Kimble, managing director of portfolio management for the Americas, explained that the selection of cities is determined by their positioning to benefit from key demographic and structural megatrends.
“Our strategy is focused on providing global and sector diversification by targeting commercial real estate in the cities that we believe are best positioned to benefit from demographic and structural megatrends, such as urbanisation, technological innovation and the rise of the knowledge economy,” Kimble said.
As of 31 October 2025, the portfolio has a total asset value of approximately USD$3 billion. Nuveen’s parent company, TIAA, has invested over US$300 million of its own capital in the strategy.
The fund also includes a hedge against USD foreign exchange (FX) exposure, with the aim of mitigating currency risk for domestic wholesale investors. Channel Investment Management is both trustee and manager.
