Nuveen, the investment manager of TIAA, has completed its acquisition of a controlling interest in Arcmont Asset Management, a European private debt investment manager, which will partner with Nuveen’s Churchill Asset Management to create Nuveen Private Capital, one of the world’s largest global private debt managers.
Nuveen, the investment manager of TIAA, has completed its acquisition of a controlling interest in Arcmont Asset Management, a European private debt investment manager, which will partner with Nuveen’s Churchill Asset Management to create Nuveen Private Capital, one of the world’s largest global private debt managers.
According to a statement released by Nuveen, Nuveen Private Capital will have more than $66.5 billion in combined committed capital, bringing Nuveen’s firmwide alternative credit assets under management to $178 billion.
Anthony Fobel, CEO of Arcmont, and Ken Kencel, president and CEO of Churchill, will be co-CEOs of Nuveen Private Capital reporting to William Huffman as chairman. Both the Arcmont and Churchill teams will become material shareholders in Nuveen Private Capital, ensuring strong alignment between management, shareholders and investors.
Arcmont and Churchill will continue to be managed by their respective leadership teams and operate under their respective names and brands.
