US-based NuBin Asset Management Acquires European Private Debt Manager 'Akmont'

[Asia Economy Reporter Junho Hwang] Nuveen Asset Management, a subsidiary of the U.S. teacher pension fund TIAA, announced on the 28th that it has completed the acquisition of ArcMont Asset Management, a European private debt manager with $21 billion in invested capital.

Nuveen Asset Management expects that through this acquisition, it will strengthen its private debt expertise along with its existing North American private debt subsidiary, Churchill Asset Management, and enhance its presence in Europe.

Jose Minaya, CEO of Nuveen Asset Management, said, "This acquisition of ArcMont provides a transformative opportunity for Nuveen Asset Management to strengthen its position in one of the most dynamic investment markets globally," adding, "We are very pleased that ArcMont’s professionals, who share many commonalities with Nuveen’s investment culture focused on long-term value creation for stakeholders, will be joining us."

Anthony Pobel, CEO of ArcMont, stated, "We believe this partnership offers the optimal opportunity to grow our existing business model and enable complementary investment strategies by leveraging Nuveen’s expertise and distribution capabilities," and added, "We look forward to developing new strategies and complementary products across multiple regions with our new partners."

This content was produced with the assistance of AI translation services.