TIAA’s Nuveen appoints managing director

Nuveen Investments, the operating division of TIAA Global Asset Management, has hired Bill Stout to fill a newly created role of head of alternative investments business development.

TIAA Global Asset Management’s operating division, Nuveen Investments, has appointed Bill Stout as managing director and head of alternative investments business development, Nuveen said.

In this newly created role Stout will help the firm place new private funds onto the investment platforms of wealth managers. These managers serve the retail and high-net-worth community. He will also help the firm grow alternative investment distribution capabilities and represent portfolio managers’ investment strategies to clients.

Stout will be based in New York and report to Mike Perry, Nuveen’s managing director and head of alternative investments.

Most recently, Stout was managing director of business development and investor relations at Corsair Capital Management, where he led sales and client service efforts. He had also been managing director at hedge fund of funds Robeco-Sage and its successor firm Arden Asset Management, serving in sales, business development and investor relations roles.

Nuveen bridges TIAA’s alternative strategies with the retail and HNW market by providing consultation and advice to its clients. TIAA collectively manages $861 billion in assets, as of 31 March.

Earlier this week, Nuveen announced its plans to propose a reorganisation plan to the Board of the Nuveen Global Equity Income Fund, following its plan to accelerate the growth of its global product platform, NWQ Investment Management Company.