Nuveen has agreed to acquire a controlling interest in Arcmont Asset Management, a $21 billion European private debt firm.
The purchase complements its North American debt and private equity business Churchill Asset Management and will culminate in the creation of Nuveen Private Capital, which will be one of the world's largest private debt managers with more than $60 billion in committed capital. Firmwide, Nuveen has alternative credit assets under management of $178 billion.
"Arcmont provides Nuveen with a transformational opportunity to significantly expand our position in one of the world's most dynamic investment . . .
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