The second Swedish national pension fund, AP2, is forming a joint venture with U.S. pension fund, TIAA-CREF. The new partnership will invest in real estate in the U.S., Australia and Brazil.

The second AP portfolio will invest around $250 million in the joint venture company that will acquire and manage agricultural real estate in the three nations. TIAA-CREF will be the majority shareholder and administrator of the company that will firstly invest in grain production.

Click here for the release from AP2.