Nuveen Joins US Rush For Cut-Price UK Financial Firms
Takeover spree rolls on as US money managers diversify across the Atlantic
A British Union flag, also known as the Union Jack, left, flies beside a U.S. national flag
Photographer: Marlene Awaad/BloombergWelcome to Going Private, I’m Sinead Cruise and this is Bloomberg’s twice-weekly newsletter about private markets and the forces moving capital away from the public eye. Today, we look at the rising costs of trading bonds issued by embattled BDCs, one private equity firm’s happy exit from a 12-year investment, and a plea from private markets firms daunted by the Bank of England’s imminent stress test. But first we look at the latest North American pounce on Britain’s discounted money managers. If you’re not already on our list, sign up here. Have feedback? Email us at goingprivate@bloomberg.net
Cash-rich North American money managers are muscling deeper into the UK, where another historic company has been plucked from London’s stock market.