Nuveen's Churchill Asset Management Raises $1.1B For Senior Loan Fund

Nov 29 2017 | 7:49pm ET

Credit specialist Churchill Asset Management has completed fundraising on a $1.1 billion senior loan fund aimed at providing senior and unitranche debt financing to private equity-owned middle market companies.

The new fund, named Churchill Middle Market Senior Loan Fund, is the inaugural vehicle launched by Churchill as part of Nuveen, according to the company. Investors include more than 30 institutions globally, including pension plans, insurance companies, foundations, single and multi-family offices and high net worth investors based in North America, Europe, South America and Asia. 

The fund invests in senior secured loans to U.S. middle market companies with annual EBITDA of up to $100 million and owned or controlled by leading private equity sponsors. 

Based in New York, Churchill Asset Management is an affiliate of Nuveen and currently has approximately $3.7 billion in committed capital under management. The firm manages capital on behalf of TIAA and other institutional and high net worth investors through comingled funds, separately managed accounts, CLOs and other investment vehicles. It has invested more than $6.5 billion in over 500 middle market companies controlled by over 150 private equity sponsors over the past 12 years. 

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