Nuveen Takes Majority Stake in Crestview-Backed Water Firm

Investment manager Nuveen is acquiring a majority stake in TurnClear, a water and wastewater treatment company owned by Crestview Partners-backed Upwell Water.

The transaction makes TIAA-owned Nuveen the controlling shareholder in TurnClear. Upwell Water will remain a major shareholder, a spokesperson for Crestview said.