Nuveen, formerly Nuveen Investments, is a Chicago-based company in the asset management industry. Nuveen was founded in Chicago, Illinois in 1898 and was previously named The John Nuveen Co., after founder John Nuveen. In October 2014, TIAA-CREF completed their purchase of Nuveen. Nuveen started in the municipal bond underwriting business and remains active in municipal bond market. Nuveen sells services including separately managed accounts, retail mutual funds and closed-end funds. Nuveen has $229.7 billion in assets under management. Founded in 1898, Nuveen Investments began as John Nuveen & Company, when founder John Nuveen, Sr. created the firm as an investment banking company specializing in the underwriting and distribution of municipal bonds. John Nuveen formed the company in 1898. The first bond it underwrote was for a Minnesota water company. After World War II, John Nuveen, Jr. helped with the Marshall Plan administration.