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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. Get the full story »
Chicago-based Nuveen Investments Inc., which serves institutions and wealthy investors, said U.S. Bancorp will receive a 9.5 percent stake in the company and an $80 million cash payment in exchange for the long-term asset business of U.S. Bancorp’s FAF Advisors.
FAF, which manages $25 billion of long-term assets and is adviser of the First American Funds, will be combined with Nuveen Asset Management, which manages $75 billion in municipal fixed income assets and is adviser of the Nuveen funds. Get the full story »
