Nuveen acquisition of Arcmont creates new private debt manager

• Arcmont has raised more than $26 billion of capital from more than 350 blue-chip investors
• The firm has committed over $20 billion to over 270 transactions across Europe
• Both firms will be managed by their respective leadership teams after the creation of the new entity

Nuveen announced that it has entered into a definitive agreement to acquire a controlling stake in Arcmont Asset Management. The deal will expand Nuveen’s private capital expertise and presence in Europe, complementing its North American private debt and private equity investment specialist Churchill Asset Management, the firms said.

The deal by Chicago-headquartered Nuveen and London-based Arcmont will create Nuveen Private Capital, which will be one of the world’s largest private debt managers with more than $60 billion in combined committed capital, according to Nuveen.

Both firms will continue to be managed by their respective leadership teams within the new entity. Ken Kencel, president and CEO of Churchill, and Anthony Fobel, Arcmont CEO, will be co-CEOs of Nuveen Private Capital. Arcmont and Churchill serve a combined investor base of approximately 600 institutional and family office investors.

Arcmont was founded in 2011 and provides financing services across a range of companies, industries and markets. Since its founding, Arcmont has raised over $26 billion of capital from more than 350 blue-chip investors and has committed over $20 billion to 270 transactions across Europe.

“Together our two firms can provide our private equity clients with scaled and integrated financing solutions and our investors with access to a broader array of attractive investment opportunities from a best-in-class global private capital platform,” said Kencel.

Nuveen is the investment manager of insurance company TIAA. It invests across traditional and alternative asset classes.