Churchill Asset Management LLC (“Churchill” or the “Firm”), an investment-specialist of Nuveen that provides customized financing solutions to private equity firms and their portfolio companies, today announced the closing of its inaugural collateralized fund obligation (“CFO”). The $700 million CFO will invest across Churchill’s flagship private capital fund strategies – senior lending, junior capital, equity co-investment and private equity fund commitments.
“We are pleased to build upon Churchill’s leading U.S. middle market private capital platform with the successful closing of our inaugural CFO,” said Christopher Freeze, Churchill’s Head of Investor Relations, adding, “This transaction provides investors a unique opportunity to access the full array of Churchill’s private capital investment capabilities. The outstanding support we received from existing and new investors was a testament to investor confidence in Churchill’s time-tested investment approach.”
UBS Investment Bank served as the Sole Structuring Advisor and Bookrunner of the transaction and Dechert LLP served as legal advisor to Churchill.
About Churchill Asset Management LLC
Churchill, an investment-specialist affiliate of Nuveen (the asset manager of TIAA), provides customized financing solutions to middle market private equity firms and their portfolio companies across the capital structure. With $38 billion of committed capital, we provide first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments and private equity fund commitments. Churchill has a long history of disciplined investing across multiple economic cycles and our unique origination strategy, best in class execution and investment are driven by more than 120 professionals in New York, Charlotte, Chicago, Dallas and Los Angeles. More information can be found at www.churchillam.com.
This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Financial professionals should independently evaluate 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 majority-owned, indirect subsidiary of 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, Member FINRA and SIPC.
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Contacts
Michael Chiong
pro-churchill@prosek.com
