Churchill Asset Management, an investment-specialist of Nuveen, raised more than $12 billion in third-party committed capital for the firm’s most recent senior lending program.
This milestone includes the closings of the firm’s flagship levered and unlevered senior loan funds, publicly-registered vehicles and separately managed accounts. The funds attracted equity commitments from a diverse group of approximately 150 institutional and high net worth investors globally, including public and private pension plans, insurance companies, endowments, foundations and family offices based in North America, Europe, the Middle East and Asia.
“We are very grateful for the strong support we received from both new and existing investors across the globe, which we believe speaks to our excellent track record and reaffirms our leadership position in the private debt market,” Ken Kencel, president and CEO of Churchill, said. “The senior lending asset class is particularly attractive in today’s market environment given the floating rate nature of the investments, strong current income potential, significant lender protections and senior position in the capital structure. The volatility and more limited availability of credit in the public markets this year has accelerated investment activity for Churchill, while our scale, differentiated sourcing approach and proven track record provides our Firm a unique opportunity to capitalize on the long-term trend towards flexible private debt solutions.”
