TIAA-CREF in Canada

Ask TIAA-CREF to stop investing in companies that proﬁt from the Israeli occupation.

Canadian pensions profit from the Israeli occupation: The Canada Pension Plan Investment Board and TIAA-CREF are investment partners.

In 2007 the Canada Pension Plan Investment Board Closed a US$500 million real estate investment with TIAA-CREF Asset Management.1

According to the Canada Pension Plan Investment Board 2010 Annual report,

“The ﬁnancial crisis has resulted in a number of major lenders retreating from the mortgage market and the virtual shutdown of the Canadian Mortgage Backed Securities market. With over $1.4 trillion of mortgages expiring in the next three years in the United States, we expect there to be an imbalance in the supply/demand equation for real estate ﬁnancing and, therefore, attractive spreads will be available. In response we have started a Private Real Estate Debt program initially focusing on the U.S. We are working with two joint venture partners, TIAA-CREF and Cornerstone, to invest in first mortgages on prime assets. The Private Real Estate Debt program was initiated at the end of the year and has committed to $1 billion of first mortgages in three transactions in the U.S.”2

1 CPP Investment Board Closes US$500 Million Real Estate Investment with TIAA-CREF Asset Management. Feb 17, 2007. See also TIAA-CREF featured in a list of the CPP Investment Board real estate partners: http://www.cppib.ca/Investments/Our_Investment_Partners/real_estate_partners.html
2 CPP Investment Board 2010 Annual Report. (emphasis added).