Nuveen Investments Inc. announced Thursday it will buy FAF Advisors from U.S. Bancorp.
Nuveen, a Chicago-based investment manager for institutions and high-net-worth investors, said it will give U.S. Bancorp a 9.5% stake in the company and cash consideration in exchange for the unit, which manages $25 billion of long-term assets and serves as the advisor of the First American Funds. The business will be merged with Nuveen Asset Management, which manages $75 billion in municipal fixed income assets and serves as advisor of the Nuveen funds.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access