TIAA-CREF to Buy Nuveen for $6.25 Billion, Adding Mutual Funds

TIAA-CREF, the provider of retirement accounts for teachers and non-profit organizations, agreed to buy Nuveen Investments to expand in mutual funds.

TIAA-CREF will acquire Nuveen from an investor group led by Madison Dearborn Partners for $6.25 billion including debt, the New York-based buyer said today in a statement on its website.

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