Carsten will be responsible for the development and implementation of investment products, the firm said.
He will be based in Singapore and report to Chris Reilly, managing director in Asia-Pacific.
“We see great opportunities in this region, both for investors and asset managers, due to compelling economic and demographic growth figures. We are excited to have Carsten on board to develop new products that cater specifically to the Asia-Pacific market,” Reilly said.
Carsten has over 14 years of experience in the industry, handling private equity funds and property funds. He has been with the firm since 2006. Previously, he worked with KPMG in Germany.
Teachers Insurance and Annuity Association – College Retirement Equities Fund (TIAA-CREF) owns a 60% stake in TIAA Henderson Real Estate (TH Real Estate). The rest is held by the Henderson Group.
TH Real Estate has offices in Singapore and Sydney. It has about $700m of real estate investments in the region through outlet malls in China, office and retail buildings in Australia, and assets in Thailand.
Last week, TIAA-CREF said it has set up distribution office in Sydney to serve clients that seek investments in real asset, real estate and responsible investing strategies.
The new office is led by Andrew Kleinig who joined TIAA-CREF from Nanuk Asset Management, where he headed sales and investor relations.