Global asset manager Nuveen has structured its real assets platform by launching two new business units, ‘to create a more streamlined proposition as investors seek to increase exposure to real assets and alternatives.’
The new Nuveen real assets platform will consist of capabilities in real estate, farmland, infrastructure, timberland, agribusiness, and commodities.
”These will be organised under three core pillars, including two newly launched units: Nuveen Natural Capital and Nuveen Infrastructure. These two pillars will sit alongside Nuveen Real Estate, and will be enhanced by targeted and complementary capabilities across Nuveen’s Private Impact and Commodities segments,” said Nuveen in a press release.
According to Nuveen, over two thirds of institutional investors are planning to increase allocation to infrastructure, natural resources investments and other alternative assets, as they seek to reduce climate-related financial risk exposure and align portfolios with the transition to a sustainable low-carbon economy.
“We’re hugely excited to be enhancing our real assets proposition, which will include bringing expertise together to create the newly launched Nuveen Infrastructure and Nuveen Natural Capital businesses. Investor demand for real assets is increasing at an extraordinary pace and by bringing together our unrivalled expertise in alternatives, we will be better positioned to respond to meet growing global investor demand for long-term sustainably managed investments. The strengthening of the platform represents the next step in our evolution in becoming the leading land-based asset manager, investing in a sustainable way for the enduring benefit of our clients and society,” said Mike Sales, Nuveen CEO of Real Assets.
Nuveen Natural Capital combines Westchester Group Investment Management, Nuveen’s farmland investment business with over $7.7bn of farmland assets under management, with GreenWood Resources, which specialises in the acquisition and stewardship of forestry assets and currently manages $1.5bn of timberland assets across over 760,000 acres. Martin Davies, current CEO of Westchester Group, will lead Nuveen Natural Capital
Nuveen Infrastructure will combine private equity and equity-like strategies through Glennmont Partners, one of Europe’s largest renewable energy fund managers with over $2bn in assets under management, alongside Nuveen’s existing diversified private infrastructure platform and its agribusiness – AGR Partners. Following a 16 year period at Nuveen, Biff Ourso, will be the Global Head of of Nuveen Infrastructure.