Chicago-based Nuveen Investments once financed the growth of its hometown and other cities by underwriting and trading municipal bonds. Nuveen has since parlayed its investment banking experience into a career as a money manager specializing in municipal bond and stock portfolios for high-net-worth and institutional investors in the US. Offering more than 100 mutual funds, about 120 closed-end funds, as well as separate accounts and managed accounts, the company sells its products through banks, brokerages, insurance agents, and other financial services providers. It has more than $210 billion of assets under management. An investor group led by private equity firm Madison Dearborn Partners owns Nuveen.