Churchill Asset Management raises nearly $ 1.5 billion for two new private equity vehicles
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NEW YORK – (BUSINESS WIRE) –
Churchill Asset Management LLC (“Churchill” or the “Company”), a dedicated investment subsidiary of Nuveen that provides customized financing solutions to US mid-market-focused private equity sponsors and their portfolio companies, announced today a significant investment in its private equity platform with the closing of two new funds totaling approximately $ 1.5 billion in committed capital. Churchill Secondary Partners, LP (the “Secondary Fund”) and Churchill Co-Investment Partners, LP (the “The transaction that expanded access for institutional investors to Churchill’s private equity platform.
The secondary fund is made up of a diversified portfolio of over 35 mid-market US private equity funds. Additionally, new primary capital has been raised for a co-investment fund that will support the growth of Churchill’s existing co-investment platform, already one of the largest programs dedicated to the US mid-market.
“The strategic nature of the secondary fund and co-investment fund as well as Churchill’s market-leading private equity platform have attracted a select group of leading global institutional investors to join Ardian. We look forward to lasting partnerships with these investors, ”said Chris Freeze, head of investor relations at Churchill.
“This transaction underscores Churchill’s reputation as a leading investor and co-investment partner. We can provide investors with differentiated investment opportunities in the US mid-market through tailor-made products, ”said Jason Strife, Head of Private Equity & Junior Capital at Churchill. “The co-investment fund gives us additional capacity to realize our growing investment pipeline. ”
Over the past 10 years, Churchill’s Private Equity & Junior Capital team, made up of 18 dedicated investment professionals, has committed more than $ 13.0 billion in private equity funds and co-investments in the middle market in more than 150 fund relationships.
Vladimir Colas, Ardian Executive Committee Member and Co-Head of Ardian US, added: “The Churchill team has an established co-investment history and close relationships with mid-market private equity sponsors, which makes it a solid strategic partner for Ardian. We have enjoyed working with the Churchill team on this historic transaction and look forward to our partnership. ”
Campbell Lutyens & Co. was Churchill’s exclusive financial advisor.
About Churchill Asset Management LLC
Churchill, a dedicated investment subsidiary of Nuveen (TIAA’s asset manager), provides tailored financing solutions to private equity firms and their portfolio companies through the capital structure. With $ 32 billion of committed capital under management, our solutions include senior, unitranche, senior and mezzanine debt, in addition to equity co-investments and private equity fund investments. Churchill has a long history of disciplined investing across multiple economic cycles and our unique origination strategy, execution and blue chip investments are led by more than 100 professionals in New York, Charlotte and Chicago. More information can be found at www.churchilam.com.
This document is not intended to be an investment recommendation or advice, does not constitute a solicitation to buy or sell securities and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of a particular investor, nor does it suggest a specific course of action. Financial professionals should independently assess the risks associated with products or services and exercise independent judgment with respect to their clients. Churchill Asset Management is a registered investment advisor and an indirect majority-owned subsidiary of the Teachers Insurance and Annuity Association of America. Certain Nuveen products are advised by Nuveen Alternatives Advisors LLC, a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, a member of FINRA and SIPC.
Ardian is a leading private investment firm with US $ 114 billion in assets managed or advised in Europe, America and Asia. The company is majority owned by its employees. It keeps entrepreneurship at the heart of its concerns and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared results for all stakeholders, Ardian’s activities fuel the growth of individuals, businesses and the economy around the world. Faithful to its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 750 employees working in fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas. (New York, San Francisco and Santiago) and in Asia (Beijing, Singapore, Tokyo and Seoul). She manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: funds of funds, direct funds, infrastructure, real estate and private debt.
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Source: Churchill Asset Management LLC