Key Takeaways
- Sector: Business Services, Technology Software & Gaming.
- Geography: United States.
Analysis
Nuveen, a global asset manager with $1.3 trillion in assets under management, has announced the acquisition of Brooklyn Investment Group, a leading provider of custom multi-asset direct indexing and its parent technology company, Brooklyn Artificial Intelligence, Inc.
This acquisition marks a significant step in Nuveen’s strategy to scale its personalized, tax-optimized investment solutions. With direct indexing growing rapidly—reaching $864 billion in assets by the end of 2024 and a 43% compound annual growth rate—Nuveen aims to lead this transformation through advanced AI and automation.
Brooklyn Investment Group is known for combining artificial intelligence with institutional-grade portfolio optimization and automated tax-loss harvesting. The firm has partnered with major wealth managers to power bespoke portfolios and streamline client experiences.
The acquisition builds upon a strategic partnership launched in 2023, during which Nuveen and Brooklyn collaborated to deliver traditional direct indexing, long-short tax-advantaged portfolios, and multi-asset solutions blending equity and fixed income.
Nuveen plans to focus on three key initiatives with Brooklyn: integrating alternatives and lifetime income products into tax-optimized portfolios, enhancing advisor-facing technologies including onboarding and client reporting, and expanding the use of Brooklyn's proprietary, white-labeled platform across wealth management channels.
“This partnership allows us to bring together Brooklyn’s pioneering AI technology with Nuveen’s broad investment capabilities,” said Bill Huffman, CEO of Nuveen. “It represents the future of personalized wealth solutions—scalable, intelligent, and deeply customized.”
Erkko Etula, CEO of Brooklyn Investment Group, added, “From day one, our vision has aligned with Nuveen’s. This integration is a natural extension of our shared goal: to empower advisors through intelligent, scalable personalization.”
Nuveen already manages over $82 billion in separately managed accounts across municipal bonds, equities, taxable fixed income, and alternative strategies. With this acquisition, it reinforces its leadership in tax-managed, multi-asset investing tailored to individual needs.