Week in Review: Fundraising, Nuveen, and Secondary Fatigue

Arriving a little early so you can kick off your Good Friday weekend…

One of the biggest stories from this week was TIAA-CREF’s $6.25 billion acquisition of Nuveen Investments. The deal will give TIAA-CREF another $221 billion in AUM and marks one of the biggest asset manager takeovers in recent years.

In other news, PE fundraising is off to its strongest start since 2008. However, not all fundraising is created equal. It turns out that first-time funds struggled to raise capital — suggesting that LPs continue to favor experience and a track record of success.

Opinions:

• First quarter PE earnings likely modest, as realization engine slows
• How GPs can avoid ‘secondary fatigue’
• The exit that wasn’t: How this entrepreneur bought his company back
• Private equity math, Nuveen edition
• What to think about fund company mergers
• Why you should consider selling your business
• Goldman Sachs investment banking roars back
• Private equity’s new macro challenges
• Moelis & Co. rises after smaller-than-expected IPO
• Yahoo’s buying spree appears to be slowing

Transactions:

• JMI Equity backs Dean Evans & Associates
• Lending Club acquires Springstone
• Arsenal Capital Partners buys Synchrogenix
• Crestview Partners to merge two portfolio companies
• Lambert invests $45 million in K2 Design & Strategy
• Axiologix to acquire iTeknik Holding Corporation
• Highlander Partners acquires assets of Profile Extrusion Company
• Thor Industries acquires K-Z
• American Capital sells SPL Acquisition Corp.
• Castle Harlan to acquire Gold Star Foods
• Behrman Capital completes $570 recap for Pelican Products