Nuveen buys Winslow Capital Management

Nuveen Investments Inc. will acquire Winslow Capital Management Inc., an investment manager that specializes in managing large-cap-growth-stock portfolios for institutions and high-net-worth investors. Terms of the deal weren’t disclosed. The transaction is expected to close by the end of the year. Minneapolis-based Winslow, which has $4 billion in assets under management and advisement, has portfolios that focus on large-cap-growth stocks with long-term-sustainable-earnings-growth potential, quality cyclical growth and newer industries with rapid-growth potential, according to a joint statement from the companies. Following the completion of the deal, Winslow's investment team will continue to operate independently, and the firm expects to upgrade its large-cap-growth investment platform over time, the two firms said in the statement. Chicago-based Nuveen, which provides investment advice to institutions and affluent individuals, had $134 billion in assets under management as of Sept. 30.