Direct lending

But growth in insurance inflows helped boost total credit inflows to $33bn, nearly 50% of the firm’s total.

Geared to private wealth clients, the end funds will combine public and private assets and have limited distribution at first.

The US asset manager has hired David Luo from insurer AIA for what is understood to be a newly created role.

The private debt specialist GP has hired investment professionals from Singapore state fund GIC and rival managers Ares, Goldman Sachs and Partners Group.

The firm is using Credit Partners III, a senior secured, direct lending fund, to focus on non-sponsored borrowers.

The Keystone strategy is expected to remain relevant across fundraising cycles, says managing partner Ian Charles and partner Charlie Tingue.

The funds will be used for sustainable opportunities across Nuveen’s energy platform, including its Energy & Power Infrastructure Credit Fund II.

Headline numbers and strategic priorities point to strong levels of institutional support, even for areas of the market under scrutiny.

The firm said it benefited from a more conservative approach to fund structuring following difficulties with US semi-liquid vehicles.