TIAA-CREF, a North American fund with nearly US$613 billion of AuM, has granted a fund services mandate to Deutsche Bank.
Under the partnership, Deutsche Bank Alternative Fund Services will provide fund administration services for various TIAA-CREF Asset Management alternative investment products.
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In addition, the partnership will minimize fund managers costs and also increase the efficiency and transparency of their funds.
Jeffrey Barnett, head of alternative investment product management at TIAA-CREF, said: "We selected Deutsche Bank for their superior client service, specialized knowledge, and experience servicing illiquid alternative investments."
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