Nuveen Announces Acquisition

May 29, 2002 ( - The Chicago-based John Nuveen Company has acquired NWQ Investment Management, an asset management firm based in Los Angeles with over $7 billion in assets under management.

NWQ specializes in value-oriented equity investments for institutions and financial advisors serving high net worth investors.

As a condition of the acquisition, asset management affiliates of Old Mutual, NWQ’s former owner, will sub-advise products sponsored and distributed by Nuveen.