Morningstar, Inc. Commentaries
Apr 15, 2014
Click here to access CEF Update: TIAA-CREF Acquires Nuveen Investments
The biggest news of the past week was the announcement that TIAA-CREF would acquire Nuveen Investments for total consideration of $6.25 billion, including $4.6 billion in outstanding debt. Nuveen is one of the world's largest closed-end fund managers, with $57 billion in total CEF assets under management, including leverage. TIAA-CREF has no immediate changes planned for Nuveen or its CEF platform, but we will watch closely for any updates.