Nuveen Investments (NYSE:JNC), a leading provider of diversified investment management services, today announced an agreement to acquire Santa Barbara Asset Management, a highly respected investment manager with $2.8 billion of assets under management. Santa Barbara specializes in managing growth stock portfolios for institutions and high-net-worth investors.

Santa Barbara's portfolios focus on high-quality companies that demonstrate above-average growth characteristics and tend to be large or medium in size.

Santa Barbara's products expand the Company's growth product-line to include strategies representing a broader capitalization range. Nuveen Investments also offers specialized expertise through NWQ in value equities, Nuveen in fixed-income and Symphony in alternative investments as well as other strategies.

INFO SOURCES

Nuveen Investments (NYSE:JNC)

FIRMS

Santa Barbara, founded in 1988 in Santa Barbara, California, is best known for its stable growth strategy. This portfolio has an outstanding long-term track record that has ranked in the top quartile of its competitive peer set for the past one, three, five and 10 years. Last year Santa Barbara also introduced a small- to mid-cap opportunistic growth portfolio and recently began to offer a high-dividend growth strategy.

TRANSACTION

Nuveen Investments will pay $50 million of initial consideration in cash for Santa Barbara.

INTEGRATION

Santa Barbara's research and investment team, which has achieved impressive performance results for its investors, will continue to operate independently and expand its investment platform and team over time. Santa Barbara's key professionals will have a long-term equity-based opportunity that participates directly in the success of Santa Barbara.