The National Pension Service of Korea (NPS) and Tishman Speyer have launched NPS-Tishman Speyer Thematic Platform, a $1.5 billion separately managed account (SMA) focused on investments in real estate innovation and high-demand asset classes across major U.S. markets.
The newly established venture will dedicate substantial capital to pursue opportunities in emerging sectors that are being propelled by rapid advances in innovation and technology.
This initiative will explore the creation of new funds and platforms aimed at a range of promising sectors, said Tishman Speyer.
“For more than a decade, the National Pension Service has been a strategic partner and sophisticated co-investor with us. I am excited to build on our relationship and recent successes,” said Tishman Speyer President and CEO Rob Speyer. “This new platform leans into our collective experience in emerging asset classes and global markets. The most intriguing part is the new built-in ability to move quickly based on disruptive technologies and market shifts.”
The NPS-Tishman Speyer platform will also devote capital for the acquisition and development by Breakthrough Properties of world-class life sciences real estate.
A joint venture between Tishman Speyer and life sciences investment firm Bellco Capital, Breakthrough Properties is currently advancing a number of major investments in the largest life sciences clusters in Boston and San Diego and maintains a robust pipeline of potential investments in many established and emerging life sciences markets.
The platform will make investments in promising proptech companies, especially at nascent stages in their growth cycles. NPS and Tishman Speyer will specifically target investments in disruptive technologies that are transforming how all stakeholders experience real estate.
NPS will become the anchor investor in Tishman Speyer’s newly established affordable housing platform. The partnership will focus on addressing the affordability crisis by investing in fair and equitable affordable and workforce housing primarily in supply-constrained neighborhoods.
In addition, the NPS-Tishman Speyer partnership will seed the creation of a new mezzanine lending arm within Tishman Speyer that will originate and acquire high-yield loans tied to various sectors of real estate in gateway cities and growing innovation markets.