Nuveen was founded in Chicago, Illinois, in 1898 and originally focused solely on municipal bond underwriting and investments.

While its investments today span nearly all major areas of capital markets, it is known for its size and influence in domestic fixed income generally, tax advantaged municipal bonds in particular and private real estate.

It was privatised in 2007 after being acquired by a Private Equity Group led by Madison Dearborn Partners for $5.4 Billion.

[13][14][15] In October 2022, Nuveen agreed to buy Europe's largest private lender, Arcmont Asset Management, for over US$1 billion.

[16] Following completion, the company plans to form a new unit called Nuveen Private Capital, which will include Arcmont and Churchill Asset Management businesses.

[16] In December 2024, a water main break in 333 W Wacker caused a cancellation of the annual holiday party and employees were asked to work from home for the remainder of the calendar year.