Madison Dearborn Partners LLC has salvaged its bet on Nuveen Investments Inc. almost seven years after the disastrously timed buyout and two years after a star manager’s exit derailed plans for an initial public offering.
Emerging-market stocks fell, stemming a four-week advance, as the European Union weighed expanding sanctions against Russia amid mounting tension in Ukraine. The ruble led declines among major currencies.
Pacific Investment Management Co., which manages the world’s largest bond fund, is turning bullish on Brazil’s debt markets, saying investors are ignoring the “long-term strength” of Latin America’s biggest economy.
Bill Gross and Larry Fink manage a $3 trillion pile of bonds -- an amount almost as big as Germany’s economy. Their firms, Pacific Investment Management Co. and BlackRock Inc., doubled holdings since 2008, outpacing the market’s growth of 50 percent.