Nuveen said it has entered into a definitive agreement to acquire a controlling stake in Arcmont Asset Management, one of Europe’s largest private debt managers, as the U.S. asset manager plans to expand its global footprint.
Nuveen said in a company statement that the deal will help it expand into Europe, where Arcmont runs $21 billion in committed capital.
Financial terms of the transaction were not disclosed.
The acquisition is set to boost Nuveen’s total alternative credit assets to $178 billion, including private debt portfolios managed by its alternative investment arm Churchill Asset Management.
Source: Reuters.com