Bonsoo Koo is leaving Evercore for a role with Nuveen Private Capital’s European and U.S. asset management units, Arcmont Asset Management and Churchill Asset Management.
As head of business development for both units, Koo will focus on offering Arcmont’s and Churchill’s private credit and equity solution while further deepening relationships with South Korean investors. Nuveen opened its first office in the region in 2021.
While serving as vice president of Evercore‘s Private Funds Group in Hong Kong, Koo operated in the South Korean market, where he introduced and represented Arcmont investors.
“Having previously partnered with Arcmont, I have seen firsthand the value the firm brings to its investors,” Koo said in a statement. “Now, together with Churchill, the opportunity to offer an enhanced array of investment opportunities across the European and U.S. middle markets is very exciting,” he added. “Private capital has now become an important asset class for Korean investors’ portfolios and providing bespoke client service to help them meet their investment objectives is absolutely key to our growth strategy in the region.”
David Burnside, co-head of Nuveen Private Capital Business Development, said that the unit currently has over $1.2 billon of South Korean committed capital, and the team continues to see South Korean LPs actively pursue the risk adjusted total return potential, lower volatility and portfolio diversification benefits of private markets.
Nuveen Private Capital launched following Nuveen’s 2023 acquisition of Arcmont that when combined with Churchill accounts for $73 billion in private capital. One of the world’s largest private credit managers, collectively, Arcmont and Churchill deployed over $15 billion in support of European and U.S. private equity firms and their portfolio companies in 2023.
Koo’s joining follows the hire of Managing Director Jamal Hammoud, a senior investment strategist who joined in November 2023 to deepen investor relationships in the Middle East.