Nuveen acquisition to create new $60bn private debt manager

Nuveen has made a deal to acquire a controlling interest in Arcmont Asset Management, a European private debt investment manager. The acquisition of Arcmont will be Nuveen's first expansion into private capital markets in Europe. The move will create one of the world's largest private debt managers, as Arcmont will be combined with Churchill Asset Management, Nuveen's North American private debt arm. The new Nuveen Private Capital will control more than $60bn in combined committed capital, bringing Nuveen's alternative credit AUM to $178bn, and together serve about 600 institutiona...