United States $87 Billion Private Debt Manager Nuveen Private Capital Announced Minority Stake Investments from Singapore $324 Billion Temasek & $5.5 Billion Hunter Point Capital in Strategic Partnership, Nuveen Private Capital Created in 2023 March in Merger of Churchill Asset Management & Arcmont Asset Management
4th September | Hong Kong
United States private debt manager Nuveen Private Capital ($87 billion AUM) has announced minority stake investments from Singapore Temasek ($324 billion AUM) & Hunter Point Capital ($5.5 billion AUM) in strategic partnership. Nuveen Private Capital was created in 2023 March, in merger of Churchill Asset Management & Arcmont Asset Management. Announcement (3/9/25): “Nuveen Private Capital, comprising U.S. and European asset managers Churchill Asset Management and Arcmont Asset Management, has entered into a strategic partnership with Hunter Point Capital (“HPC”), an independent investment firm that provides capital solutions and strategic support to alternative asset managers, and Temasek, a global investment company headquartered in Singapore. HPC and Temasek are making minority investments in Nuveen Private Capital and Temasek will provide long-term capital commitments to the platform’s new and existing strategies. Nuveen Private Capital was formed in March 2023 following Nuveen’s majority acquisition of Arcmont, which, in combination with Churchill, created an $87 billion private capital platform and one of the world’s leading private credit managers. Over the past year, Nuveen Private Capital has invested over $21 billion in over 400 companies in support of U.S. and European private equity firms and currently serves more than 5,000 investors globally. The transaction underscores Nuveen’s commitment to the continued growth and success of Nuveen Private Capital. Following the transaction, Nuveen will maintain its majority ownership of Nuveen Private Capital, with Churchill and Arcmont senior management and employees retaining minority stakes. The transaction will have no impact on Nuveen Private Capital’s investment strategy or processes, leadership or day-to-day operations.” In 2025 June, United States TIAA investment manager Nuveen ($1.3 trillion AUM) announced the 2nd close of the Australian commercial real estate debt strategy with $422 million (AUD 650 million), with Canada Pension Plan Investment Board (CPP Investments, $523 billion AUM) investing $195 million (AUD 300 million) and joining Singapore Temasek and Teachers Insurance & Annuity Association of America (TIAA) as strategic partners. Nuveen Australian commercial real estate debt strategy final close is expected to exceed $650 million (AUD 1 billion).” In 2025 April, Nuveen appointed Chad Phillips as Global Head of Nuveen Real Estate ($141 billion AUM), succeeding Chris McGibbon who is retiring (30/6/25) after nearly 25 years at Nuveen. Chad Phillips joined Nuveen in 2019 from Guggenheim Real Estate ($330 billion AUM) after 14 years.
“ United States $87 Billion Private Debt Manager Nuveen Private Capital Announced Minority Stake Investments from Singapore $324 Billion Temasek & $5.5 Billion Hunter Point Capital in Strategic Partnership, Nuveen Private Capital Created in 2023 March in Merger of Churchill Asset Management & Arcmont Asset Management “
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Bill Huffman, Nuveen Chief Executive Officer and Chairman of Nuveen Private Capital: “Welcoming Hunter Point Capital and Temasek is a point of pride and a testament to the deep bench of talent that has quickly propelled Nuveen Private Capital to become one of the leading private credit platforms in the world. As Nuveen Private Capital’s global reach continues to expand, our new partnership with these two highly experienced strategic business builders and capital investors powerfully affirms our original vision for an integrated, collaborative platform that honors the trust placed in us by our investors.”
Ken Kencel and Anthony Fobel, Nuveen Private Capital co-Chief Executive Officers: “This partnership provides strong validation of the scaled, highly differentiated platform that we have built together and reflects our shared commitment to continue enhancing the value we deliver to our investors, borrowers and private equity sponsors.”
Avi Kalichstein, Chief Executive Officer and Co-Founder of Hunter Point Capital: “Nuveen Private Capital’s global reach and deep local market expertise, combined with their longstanding relationships with sponsors and ability to source deal flow, are among the best in the industry. We are delighted to expand the engagement between our firms and to play a strategic role in Nuveen Private Capital’s next phase of growth.”
Nuveen – Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.3 trillion in assets under management as of 30 June, 2025 and operations in 32 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies.
Nuveen Private Capital – Backed by TIAA, Nuveen Private Capital (NPC) is an $87 billion private capital platform and one of the world’s largest private debt managers. It brings together the complementary strengths of Churchill Asset Management and Arcmont Asset Management – two leading private capital platforms in the U.S. and Europe – to offer investors access to high quality, diversified opportunities across the capital structure, focused on private equity-backed middle market companies. NPC provides a comprehensive suite of solutions, including senior lending, junior capital, capital solutions, equity co-investments, secondaries and private equity fund commitments. With over 300 professionals across 15 global offices, the platform combines deep investment expertise, disciplined underwriting, and a strong focus on partnership and risk management to deliver differentiated access to private markets at scale.
Hunter Point Capital – Hunter Point Capital is a leading independent investment firm providing capital solutions to alternative asset managers that are poised to build enduring franchises and define the next generation of leading investment firms across the globe. Hunter Point Capital believes that being a strategic partner for growth to investment managers makes it a preferred choice for successful and promising GPs seeking tailored capital solutions.
Temasek – Temasek is a global investment company headquartered in Singapore, with a net portfolio value of US$324 billion (S$434 billion) as of 31 March 2025. Its Purpose “So Every Generation Prospers” guides us to make a difference for today’s and future generations. It seeks to build a resilient and forward-looking portfolio that will deliver sustainable returns over the long term. Temasek has 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and Brussels, London, Mexico City, New York, Paris, San Francisco, and Washington, DC outside Asia.
$1.3 Trillion Asset Manager Nuveen Announced 2nd Close of Australian Commercial Real Estate Debt Strategy with $422 Million (AUD 650 Million), $523 Billion Canada Pension Plan Investment Board (CPP Investments) Invested $195 Million (AUD 300 Million) & Joins Singapore Temasek and Teachers Insurance & Annuity Association of America (TIAA) as Strategic Partners, Nuveen Australian Commercial Real Estate Debt Strategy Final Close Expected to Exceed $650 Million (AUD 1 Billion)
12th June – United States TIAA investment manager Nuveen ($1.3 trillion AUM) has announced the 2nd close of the Australian commercial real estate debt strategy with $422 million (AUD 650 million), with Canada Pension Plan Investment Board (CPP Investments, $523 billion AUM) investing $195 million (AUD 300 million) and joining Singapore Temasek and Teachers Insurance & Annuity Association of America (TIAA) as strategic partners. Nuveen Australian commercial real estate debt strategy final close is expected to exceed $650 million (AUD 1 billion). Announcement (12/6/25): “Nuveen, one of the largest asset managers globally with over US$1.3 trillion AUM*, has reached the second close of its commingled Australian commercial real estate debt strategy with commitments of over A$650 million. Canada Pension Plan Investment Board (CPP Investments), through its subsidiary CPPIB Credit Investments Inc., invested A$300 million, joining Teachers Insurance and Annuity Association of America (TIAA) and Temasek as strategic partners of Nuveen for this strategy. Total AUM are expected to exceed A$1 billion including capital approved for co-investments. The strategy is already more than 40% deployed via committed loan investments focusing on institutional senior and junior loans secured by prime real estate in Australia. Preferred sectors for the strategy are industrial / logistics and residential, with a selective approach to retail, office and alternatives across major cities in Australia. The strategy leverages both Nuveen Real Estate’s global debt platform, which currently has over 55 dedicated specialists, and a team of more than 60 at Nuveen Real Estate in Asia. The strategy is led by Dugald Marr, Nuveen’s Head of Debt Australia and New Zealand, and the support of an experienced team with a long track record of originating and structuring high-quality loan investments in this market. Investments are also aligned to Nuveen Real Estate’s comprehensive responsible investment processes and ESG factor analysis. This includes waste reduction and energy consumption, climate risk analysis and social aspects with the ability to structure Green Loans or Sustainable Linked Loans where applicable to incentivise ESG targets on behalf of clients. The investment comes at a time when Australian commercial real estate debt offers the potential for a compelling blend of stability, attractive yields and strong collateral protection, all of which are increasingly important to investors concerned about global volatility. Australia’s mature market, supported by robust economic foundations, strict regulatory requirements for banks and the need for more alternative capital sources provides a good foundation for long-term investment in this space. The strategy will continue to focus on repeat institutional borrowers, conservative lending parameters and prime assets in sectors that benefit most from Australia’s high population growth and limited supply.” In 2025 April, Nuveen appointed Chad Phillips as Global Head of Nuveen Real Estate ($141 billion AUM), succeeding Chris McGibbon who is retiring (30/6/25) after nearly 25 years at Nuveen. Chad Phillips joined Nuveen in 2019 from Guggenheim Real Estate ($330 billion AUM) after 14 years.
Andrew Kleinig, Head of Australia and the Global Client Group for South East Asia at Nuveen: “This is another milestone for the strategy. With CPP Investments’ commitment, we will continue our focus on strategic, in-depth partnerships with the highest calibre of investors. We are excited to work with a like-minded partner who also shares a high conviction on the asset class. CPP Investments has provided significant value-add as a strategic investor, ensuring long-term success and growth of the partnership. It showcases Nuveen’s pedigree in real estate investment and our ability to bring regionally tailored solutions across both equity and debt platforms. We believe Nuveen’s offering across real assets more broadly is well-positioned to help clients across Asia navigate volatility alongside managing their responsible investment goals.”
Raymond Chan, Managing Director & Head of APAC Credit at CPP Investments: “Australia is one of our key markets in Asia Pacific and this transaction marks an important milestone for our credit strategy in the region. The investment builds upon our extensive market research and insights from our successful investments in Australia. Leveraging Nuveen’s strong local network and capabilities, this partnership enables us to tap into attractive real estate debt investments in Australia and further augment our credit program in the region. These opportunities offer stability and attractive yields amid global volatility, contributing to long-term returns for the CPP Fund.”
Nuveen – Nuveen, a global asset manager, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.3 trillion in assets under management as of 31 Mar 2025 and operations in 32 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies.
Nuveen Real Estate is one of the largest investment managers in the world with $142 billion of assets under management. Managing a suite of funds and mandates, across both public and private investments, and spanning both debt and equity across diverse geographies and investment styles, we provide access to every aspect of real estate investing. With over 90 years of real estate investing experience and more than 770 employees located across 30+ cities throughout the United States, Europe and Asia Pacific, the platform offers global reach with deep sector expertise, providing investors access to high quality investments across the private real estate investment landscape.
$1.3 Trillion Investment Manager Nuveen Appoints Chad Phillips as Global Head of Nuveen Real Estate with $141 Billion AUM Succeeding Chris McGibbon Who Retires after Nearly 25 Years at Nuveen, Joined Nuveen in 2019 from $330 Billion Guggenheim Real Estate after 14 Years
13th April 2025 – United States TIAA investment manager Nuveen ($1.3 trillion AUM) has appointed Chad Phillips as Global Head of Nuveen Real Estate ($141 billion AUM), succeeding Chris McGibbon who is retiring (30/6/25) after nearly 25 years at Nuveen. Chad Phillips joined Nuveen in 2019 from Guggenheim Real Estate ($330 billion AUM) after 14 years. Nuveen (1/4/25): “Nuveen, the investment manager of TIAA, announced today that Chad W. Phillips will serve as Global Head of Nuveen Real Estate, effective immediately, as the firm activates long-standing succession plans following Chris McGibbon’s decision to retire after nearly 25 years of service. In this role, Mr. Phillips will be responsible for $141 billion in assets under management of commercial real estate equity and debt investments extending across 22 countries globally. He will also chair the Nuveen Real Estate Global Executive Leadership Team, which oversees the platform’s strategic initiatives. With nearly 25 years of experience in all facets of real estate investing and portfolio management, Mr. Phillips joined Nuveen in 2019. Most recently, he led a global team of dedicated sector specialists that focus on workplace, healthcare, retail and mixed-use investments, overseeing the strategy, performance, and day-to-day investment and fundraising activities across those sectors. He graduated with a B.A. from Davidson College and a master’s degree in real estate from Georgetown University … … In keeping with his decades-long commitment to the best interests of clients and colleagues, Mr. McGibbon will ensure a smooth transition, remaining with the firm until his retirement on June 30, 2025. With over 90 years of real estate investing experience and more than 750 employees dedicated to real estate in more than 30 cities throughout the U.S., Europe and Asia Pacific, Nuveen Real Estate is one of the largest real estate investment managers in the world.”
Mike Sales, CEO of Real Assets at Nuveen: “Chad is known for his leadership style, investment expertise and consistent commitment to client service. I have every confidence he will maintain our drive for excellence as he guides the platform into the future. Over the course of nearly 25 years with TIAA and Nuveen, including the last six years as Global Head of Nuveen Real Estate, Chris has worked tirelessly to grow and transform our real estate business, which is now a top five global player. His vision, dedication to clients, focus on investment performance and support of our top talent will leave a lasting impact on our real estate business.”
Chad Phillips, Global Head of Nuveen Real Estate: “It’s a privilege and a pleasure to take on the leadership of Nuveen Real Estate, a dynamic platform that combines deep sector expertise with the advantages of our size and scale. Focusing on our clients’ objectives will remain our foremost priority as we continue building our platform’s reputation for innovation through the expertise and hard work of our industry-leading teams.”
Chris McGibbon: “I’m incredibly proud of the platform that we’ve built and confident that Nuveen’s real estate business is in very good hands with Chad at the helm. The global leadership position that the platform has achieved is a testament to the strength of our team and their constant dedication to our investors.”
Nuveen – Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.3 trillion in assets under management as of 30 Sept 2024 and operations in 27 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies.
Nuveen Real Estate – Nuveen Real Estate is one of the largest investment managers in the world with $141 billion of assets under management. Managing a suite of funds and mandates, across both public and private investments, and spanning both debt and equity across diverse geographies and investment styles, we provide access to every aspect of real estate investing. With over 90 years of real estate investing experience and more than 750 employees* located across 30+ cities throughout the United States, Europe and Asia Pacific, the platform offers global reach with deep sector expertise, providing investors access to high quality investments across the private real estate investment landscape. For further information, please visit us at nuveen.com/realestate.
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