Kevin J. McCarthy
About Kevin J. McCarthy
Kevin J. McCarthy serves as Vice President and Assistant Secretary of Nuveen Real Estate Income Fund (JRS), with service as a fund officer since 2007 (term: indefinite). He was born in 1966 and, as of March 1, 2025, concurrently holds senior legal and secretary roles across Nuveen/TIAA affiliates, including Executive Vice President, Secretary and General Counsel of Nuveen Investments, Inc.; Executive Vice President and Assistant Secretary of Nuveen Securities, LLC and Nuveen Fund Advisors, LLC; Executive Vice President and Secretary of Nuveen Asset Management, LLC, Teachers Advisors, LLC, TIAA‑CREF Investment Management, LLC and Nuveen Alternative Investments, LLC; and Executive Vice President, Associate General Counsel and Assistant Secretary of TIAA‑CREF Funds and TIAA‑CREF Life Funds . Prior disclosures also note Senior Managing Director roles (since 2017) and formal secretary/assistant secretary designations across Nuveen entities, plus Vice President and Secretary roles at Winslow Capital Management, LLC (since 2010), and prior vice president/secretary roles at NWQ Investment Management Company, LLC and Santa Barbara Asset Management, LLC (2007–2021 and 2016–2021) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Nuveen Investments, Inc. | Executive Vice President, Secretary & General Counsel | Since 2016 (EVP/GC per 2023 disclosure) | Senior legal stewardship and governance across Nuveen’s investment platforms |
| Nuveen Securities, LLC | Senior Managing Director; Assistant Secretary | SMD since 2017; Assistant Secretary since 2008 | Legal/secretary oversight for distribution entity |
| Nuveen Fund Advisors, LLC | Senior Managing Director; Secretary | SMD since 2017; Secretary since 2016 | Legal administration for adviser to closed‑end and mutual funds |
| Nuveen Asset Management, LLC | Senior Managing Director; Secretary | SMD since 2017; Secretary since 2016 | Enterprise investment adviser governance |
| NWQ Investment Mgmt Co., LLC | Vice President; Secretary | VP 2007–2021; Secretary 2016–2021 | Affiliate governance and legal administration |
| Santa Barbara Asset Mgmt, LLC | Vice President; Secretary | VP 2007–2021; Secretary 2016–2021 | Affiliate governance and legal administration |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Winslow Capital Management, LLC | Vice President & Secretary | Since 2010 | Secretary responsibilities at affiliated asset manager |
Fixed Compensation
- Officers receive no compensation from the Funds; officer compensation (e.g., for the CCO) is paid by the Adviser (Nuveen) with the Funds reimbursing an allocable portion of the Adviser’s cost of the CCO’s incentive compensation .
- JRS’s proxy does not disclose Kevin McCarthy’s base salary, bonus, equity grants, or severance terms (officers are not compensated directly by the Fund) .
Performance Compensation
- Not disclosed for fund officers; JRS does not pay or report officer incentive structures (PSUs/RSUs/options, metric targets, or payouts) in its proxy .
Equity Ownership & Alignment
| Metric | Value | Date/Context |
|---|---|---|
| JRS common shares outstanding | 28,892,471 | Record date Feb 18, 2025 |
| Beneficial ownership by Board Members and officers as a group (JRS) | 1,344 shares | As of Dec 31, 2024 |
| Group beneficial ownership as % of outstanding | Less than 1% for each Fund, including JRS | As of Feb 18, 2025 |
- Individual officer shareholdings (including for Kevin McCarthy) are not itemized; only group totals are disclosed .
- Board Members (not officers) are expected to invest at least one year of compensation in funds within the complex to align interests; this governance principle applies to trustees, not fund officers .
Employment Terms
| Item | Disclosure |
|---|---|
| Fund office/role | Vice President and Assistant Secretary |
| Term of office | Indefinite; service since 2007 |
| Election/renewal | Officers are elected annually by the Board to serve until successors are elected and qualified |
| Compensation source | No compensation from JRS; officer compensation handled by the Adviser (Nuveen/TIAA) |
Board Governance
- Kevin McCarthy is not a Board Member of JRS; he serves as a fund officer .
- He is designated as a proxy holder on JRS’s 2025 proxy card alongside John M. McCann and Mark L. Winget, authorized to vote shares at the Annual Meeting (April 17, 2025) . Similar proxy designations appear across Nuveen fund proxy materials in 2025 .
- Section 16(a) filings: JRS reports that Board Members and officers complied with applicable Section 16(a) requirements during the last fiscal year and the previous fiscal year .
Investment Implications
- Pay-for-performance linkage at JRS is limited for officers: compensation is set and paid by the Adviser (Nuveen/TIAA) and not disclosed at the Fund level; thus, there is no direct Fund-reported base/bonus/equity framework or performance metric alignment for Kevin McCarthy within JRS .
- Insider selling pressure is low based on disclosed ownership: Board Members and officers as a group held 1,344 JRS shares as of Dec 31, 2024, and less than 1% of outstanding across each Fund, implying minimal direct ownership influence on trading flows at the Fund level .
- Retention risk appears low from tenure: McCarthy has served as a JRS officer since 2007 with extensive senior legal roles across Nuveen/TIAA affiliates, suggesting continuity in fund governance processes; however, employment contract/severance/change‑of‑control terms are not disclosed at the Fund level .
- Trading signals: As a legal/secretary officer rather than a portfolio executive, McCarthy’s reported activities (e.g., proxy authorization, attorney‑in‑fact designations in filings) are governance/administrative and not indicative of portfolio or distribution strategy shifts; watch 8‑K Item 5.02 filings for board/committee changes rather than officer compensation updates .