Nuveen to buy HydePark

Nuveen Investments Inc. has agreed to acquire HydePark Investment Strategies, a specialist in enhanced equity investment management. The terms of the deal were not disclosed and Nuveen said that it does not expect the deal to have an impact on its 2007 earnings per share. The deal is expected to close at the end of April. The acquisition includes Richards & Tierney Inc., which provides risk control and portfolio advisory services to institutional investors. HydePark and Richards & Tierney will continue to operate under current management. Chicago-based HydePark will maintain its existing, independent investment process and will be marketed under the Nuveen brand. HydePark currently has approximately $350 million in assets under management for its clients. Chicago-based Nuveen managed $162 billion in assets as of Dec. 31.