Macfarlanes has advised longstanding client, Arcmont Asset Management, on the strategic partnership between Nuveen Private Capital, Hunter Point Capital and Temasek.
Nuveen Private Capital (NPC) was formed in March 2023 following Nuveen's majority acquisition of Arcmont, which, in combination with Churchill Asset Management, created an $87bn private capital platform and one of the world's largest private credit managers. Nuveen is the investment manager of the Teachers Insurance and Annuity Association of America Fund (TIAA) and operates in 32 countries with AUM of $1.3tn.
Under the terms of the new strategic partnership, Hunter Point Capital, an independent investment firm that provides capital solutions and strategic support to alternative asset managers, and Temasek, a global investment company headquartered in Singapore, are making minority investments in NPC alongside the Arcmont and Churchill teams. Temasek will also provide long-term capital commitments to the platform's new and existing strategies.
The Macfarlanes team was led by M&A Partner Nicholas Page, with assistance from Senior Associates Emma Wolf and Michael Sweeney. Tax expertise was provided by Partner Jeremy Moncrieff and Senior Counsel Alex Ereira.
Nicholas Page comments: "This transaction is a perfect example of how the GP stakes industry is maturing, with firms increasingly seen as experienced strategic business builders as well as capital investors. Having acted for Arcmont for several years, including on the transaction which formed Nuveen Private Capital in 2023, it is particularly exciting to assist with this next phase of their growth."