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flashl Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Aug-12-08 08:09 AM
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US pension fund opens London office
Financial Times

By Francesco Guerrera in New York

Published: August 11 2008 23:30 | Last updated: August 12 2008 01:08


TIAA-CREF, one of the world’s biggest money managers, is to open its first overseas office by setting up a base in London to step up investments in European property. The move signals foreign buyers’ growing interest in the region’s real estate market.

The US pension fund’s decision to open the first foreign outpost in its 90-year history underlines the desire by cash-rich investors to take advantage of the financial crisis to pick up assets at attractive prices.



:shrug: Anyone care to explain why this would be good news for pensioners in U.S.?
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Tandalayo_Scheisskopf Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Aug-12-08 08:16 AM
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1. I would posit...
That this is a strategy to take advantage of Britain's lax financial sector oversight and dodge US taxes and other regulations. Just a guess.
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speedoo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Aug-12-08 09:22 AM
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2. They invest billions in European companies.
Having an office in London gets them closer to those companies, and therefore, theoretically better able to research those companies.
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