Updated Sunday, April 20, 2014 as of 10:04 PM ET
TIAA-CREF to Buy Nuveen Investments in $6.25 Billion Deal
(Bloomberg) -- TIAA-CREF, the manager of retirement accounts for teachers, agreed to buy Nuveen Investments from Madison Dearborn Partners LLC for $6.25 billion, including outstanding debt.
The transaction adds $221 billion in assets, bringing TIAA- CREFís total to about $800 billion, according to a statement today from the New York-based company. Chicago-based Madison Dearborn purchased Nuveen in 2007, then the largest buyout of a U.S. asset manager, for $5.75 billion.   more »
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The U.S. Supreme Court decision to hear arguments over Fifth Third Bancorp v. Duddenhoeffer – a case that questions whether it's prudent for companies to offer employee stock ownership within 401(k) investment schemes – will be front and center for retirement plan sponsors this spring. more »
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