Nuveen Deepens Direct Indexing Capabilities with Acquisition of Brooklyn Investment Group
Nuveen has significantly expanded its presence in the rapidly evolving world of direct indexing and personalized portfolio management with the acquisition of Brooklyn Investment Group and its technology platform, Brooklyn Artificial Intelligence, Inc. The move underscores a growing trend toward customized investment strategies and tax-efficient wealth management solutions.
Nuveen, a leading investment manager, initially forged a partnership with Brooklyn in 2023, launching a suite of offerings including traditional direct indexing, tax-advantaged long/short portfolios, and multi-asset solutions that seamlessly integrate equity and fixed income. Prior to this full acquisition, Nuveen, alongside TIAA Ventures, had already secured a minority stake in Brooklyn, signaling a strong belief in the company’s potential.
Strategic Integration: Three Key Focus Areas
Following the acquisition, Nuveen and Brooklyn will concentrate their efforts on three core areas of integration to maximize synergies and deliver enhanced value to clients. These include:
- Expanding Tax-Advantaged Alternatives: The combined entity will accelerate the integration of Nuveen’s expertise in private markets and lifetime income solutions into highly customized, tax-efficient investment strategies.
- Enhancing Advisor Experience: Brooklyn’s technology will be leveraged to streamline critical advisor workflows, including client onboarding, account maintenance, practice management, and the creation of differentiated client reports.
- Extending Technology Licensing: Brooklyn’s proprietary, white-labeled technology platform will continue to be offered to existing partners, broadening its reach and impact within the financial services industry.
“Every day we hear from advisors about the demand for personalized multi-asset strategies with the returns that private market allocations offer,” said Bill Huffman, CEO of Nuveen. “Together, we will reshape the direct indexing landscape by delivering alternatives and lifetime income in an expanded set of customizable solutions.”
Nuveen’s Growing Assets Under Management
Nuveen currently manages over $82 billion in separately managed accounts (SMAs), encompassing a diverse range of asset classes including municipal bonds, taxable fixed income, equities, and nontraditional multi-asset solutions, with direct indexing playing an increasingly prominent role. This acquisition positions Nuveen to capitalize on the growing demand for personalized investment solutions and further solidify its leadership in the wealth management space.
The acquisition of Brooklyn Investment Group represents a strategic investment in technology and innovation, enabling Nuveen to deliver more sophisticated and tailored investment solutions to its clients in an increasingly competitive market.
