For an EV of $6.25 bn

TIAA-CREF to Purchase Nuveen Investments

Date:

TIAA-CREF to Purchase Nuveen Investments

Author: Alicia Miguel

  1. Brings deep market expertise of two industry leaders to clients and expands investment choices and services
  2. Adds scale, diversification and distribution capabilities and the opportunity to enhance customer returns
  3. TIAA-CREF is acquiring Nuveen from an investor group led by Madison Dearborn Partners for an enterprise value of $6.25 billion
  4. Nuveen will operate as a separate subsidiary within TIAA-CREF's Asset Management business
  5. John Amboian will remain the chief executive officer of Nuveen