Henderson TIAA-CREF merger sealed

Henderson Global Investors, the fund giant behind Westfield Stratford City shopping centre, has completed its merger with US Teachers’ asset manager TIAA-CREF to create one of the world’s biggest property investment management firms. The new company TIAA Henderson Real Estate, which launched yesterday combines Henderson’s £11bn European and Asia Pacific property business with TIAA-CREF’s European assets, with around $71bn (£42.6bn) in real estate assets under management.