Marc Cardella
Vice President and Controller (Principal Financial Officer) at Nuveen Real Asset Income & Growth Fund
Executive
About Marc Cardella
Marc Cardella (born 1984) serves as Vice President and Controller (Principal Financial Officer) of Nuveen Real Asset Income and Growth Fund (JRI), with an indefinite term and service since 2024 . He is Senior Managing Director and Head of Public Investment Finance at Nuveen and holds finance leadership roles across TIAA-related entities, including Principal Financial Officer, Principal Accounting Officer, and Treasurer of TIAA Separate Account VA-1 and College Retirement Equities Fund . He signed JRI’s November 17, 2025 N-2 as Principal Financial and Accounting Officer, confirming ongoing responsibility for the Fund’s financial disclosures . Performance metrics such as TSR, revenue growth, or EBITDA growth are not disclosed for executives in JRI filings.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen | Senior Managing Director; Head of Public Investment Finance | Past 5 years (as disclosed) | Not disclosed in filings |
| Nuveen Fund Advisors, LLC; Nuveen Asset Management, LLC | Senior Managing Director | Past 5 years (as disclosed) | Not disclosed in filings |
| Teachers Advisors, LLC; TIAA‑CREF Investment Management, LLC; TIAA; TIAA SMA Strategies LLC | Senior/Managing Director roles (finance) | Past 5 years (as disclosed) | Not disclosed in filings |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| College Retirement Equities Fund (CREF) | Principal Financial Officer, Principal Accounting Officer, Treasurer | Current (disclosed) | Not disclosed in filings |
| TIAA Separate Account VA‑1 | Principal Financial Officer, Principal Accounting Officer, Treasurer | Current (disclosed) | Not disclosed in filings |
Fixed Compensation
- Officers receive no compensation from JRI; the Fund has no employees. Officer compensation (e.g., CCO) is paid by the Adviser (Nuveen), and the Fund may reimburse an allocable portion of the Adviser’s cost of incentive compensation for the CCO . No base salary, bonus targets, or cash retainer amounts are disclosed for Cardella in JRI filings.
- Independent Board Member compensation is fully disclosed and increased effective January 1, 2024, but this pertains to trustees, not officers .
Performance Compensation
- No performance metrics (e.g., revenue growth, EBITDA, TSR percentile) or payout formulas tied to Cardella’s compensation are disclosed in JRI filings .
Equity Ownership & Alignment
| Metric | As of | Value | Notes |
|---|---|---|---|
| Shares beneficially owned (common) | 12/02/2024 | 0 | Form 3 states “No securities are beneficially owned.” |
| Ownership % of shares outstanding | 12/02/2024 | 0.00% | JRI had 27,416,679 common shares outstanding as of 02/18/2025 . |
| Derivative securities (e.g., options) | 12/02/2024 | None reported | No entries in Form 3 Table II . |
| Shares pledged as collateral | 12/02/2024 | None disclosed | No beneficial ownership reported . |
| Stock ownership guidelines | N/A | Not disclosed for officers | Board members are expected to invest at least one year of compensation; not applicable to officers . |
Employment Terms
| Term Element | Disclosure |
|---|---|
| Position | Vice President and Controller (Principal Financial Officer) |
| Term length | Indefinite |
| Start date (Fund officer) | Since 2024 |
| Contract expiration | Not disclosed |
| Severance provisions | Not disclosed |
| Change‑of‑control terms | Not disclosed |
| Clawbacks / tax gross‑ups | Not disclosed |
| Non‑compete / non‑solicit / garden leave | Not disclosed |
Investment Implications
- Alignment: Cardella reported no beneficial ownership of JRI shares on Form 3, implying limited direct equity alignment and no insider selling pressure or vesting overhang at the Fund level . Officers of JRI are not compensated by the Fund, and compensation is handled by the Adviser, reducing direct pay‑for‑performance linkage to JRI’s shareholder outcomes .
- Retention and continuity: His 2024 appointment with an indefinite term and his 2025 N‑2 officer signature indicate continuity in the Fund’s principal financial leadership. This supports operational stability around financial reporting and controls .
- Governance structure context: The unitary board/governance model and explicit board compensation disclosures do not extend to officer pay, leaving severance/change‑of‑control economics for officers opaque in Fund filings . For trading signals and pay‑risk analysis, absence of equity/derivatives and lack of Fund‑level performance pay disclosures point to minimal near‑term insider‑driven supply risk .