– Churchill and Seviora Close $400 Million Collateralized Fund Obligation to Expand Global Private Market Access
– Churchill Asset Management (Nuveen, a TIAA company Private Capital) and Seviora Holdings (Temasek) closed an approximately $400 million Collateralized Fund Obligation (CFO), providing institutional investors with diversified exposure across U.S. and Asian private markets.
– The CFO invests equally across Churchill’s U.S. junior capital and private equity secondaries strategies and Seviora’s Asian private credit and global fund-of-funds strategies, offering diversification across sponsors, strategies, and geographies.
– The structure allocates 50% to each platform and was designed to deliver credit exposure, yield enhancement, and geographic diversification, with the rated transaction oversubscribed due to strong institutional demand, particularly from U.S. insurance companies.
– The transaction expands the strategic partnership established in September 2025, when Temasek acquired a minority stake in Nuveen Private Capital and committed long-term capital to its investment strategies.
– Ken Kencel, President & CEO of Churchill, said the oversubscribed offering highlights strong investor demand for high-quality, diversified private market investments, adding that the combination of complementary strategies, investor-friendly structuring, and the backing of TIAA and Temasek resonated strongly with investors.
– Gabriel Lim, Executive Director & CEO of Seviora Holdings, said the transaction demonstrates how deep partnerships and complementary capabilities can create innovative investment solutions, while advancing Seviora’s goal of expanding institutional access to global private markets.
