Chicago-based Nuveen Investments, which serves the wealthy and institutions, has completed its acquisition of U.S. Bancorp’s FAF Advisors.

The deal, announced in July, called for U.S. Bancorp to get a 9.5 percent stake in Nuveen as well as an $80 million cash payment.

Nuveen is a portfolio company of Madison Dearborn Partners, a Chicago-based private equity firm.

The $27 billion of mutual fund and institutional assets managed by FAF Advisors, along with its investment professionals, have become part of Nuveen Asset Management. With these additions, Nuveen Asset Management now manages more than $100 billion of assets, ranging from municipal and taxable fixed income to traditional and specialized equity investments. Nuveen Investments, parent of Nuveen Asset Management, now has a total of $195 billion in assets under management as of Dec. 31.