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TIAA-CREF Launches $1B Investment Platform

HOUSTON-Dubbed Covariance Capital Management, the company will provide investment and asset management services to nonprofits.

By Jennifer Duell Popovec | Updated on March 29, 2011

HOUSTON-TIAA-CREF has launched a new company that will provide investment and asset management services to nonprofits. Dubbed Covariance Capital Management, the company is backed by $1 billion in seed capital from TIAA-CREF.

Led by Scott W. Wise and based in Houston, Covariance will operate independently as a wholly-owned subsidiary of TIAA. It will focus on nonprofits with assets under management of $100 million or greater.

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