It's now official.

Private equity firm Madison Dearborn has sold Nuveen to TIAA-CREF for $6.25 billion.

The sale follows a rumored abortive attempt by Madison in early 2013 to try to spin off Nuveen in an IPO.

Madison's investors sat on this asset for seven years. One big question is whether their patience was rewarded.

MFWire doesn't know for certain, but here are some numbers to ponder while addressing this question.

In a statement issued by TIAA-CREF regarding the deal, TIAA-CREF is buying Nuveen for $6.25 billion, including Nuveen's outstanding debt.

When Madison acquired Nuveen from the open marketin June 2007, the PE firm paid $5.75 billion, and assumed another $550 million in debt, for a total of $6.3 billion.

Whether or not Madison made any money on the deal, the acquisition affords TIAA-CREF with an opportunity to build up its brand awareness among other things. Brand awareness was one of the important goals that TIAA-CREF asset management chief John Panagakis articulated to MFWire in December 2013.

For example, in the press statement regarding the acquisition, TIAC-CREF president and chief executive Roger Ferguson declared "The acquisition of Nuveen can generate greater returns that will benefit our customers. This transaction reinforces our position as a leading diversified financial services organization with a broad mix of product offerings to serve clients today and those in retirement for decades to come." 

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