Sidley lawyer Mark Thompson acted for two of Sweden’s leading pension funds, Forsta AP-Fonden (AP1) and Andra AP-Fonden (AP2) on the formation of a joint venture with Teachers Insurance and Annuity Association of America (TIAA). The newly formed investment vehicle, ‘Cityhold Office Partnership,’ will own and purchase commercial real estate in Western Europe. The initial platform, valued at €2.2 billion, will be seeded with properties owned by the joint venture parties, which comprise 250,000 square metres of office space across the UK, France and Germany. Going forward, the venture will be targeting an additional €2 billion of investment over the next three years.