– Churchill Asset Management LLC, an investment specialist of Nuveen, a TIAA company, announced the final close of Churchill Co-Investment Fund II with $1.5 billion in limited partner commitments.
– The oversubscribed fund reached its hard cap and is nearly 3.5x the size of its predecessor.
– The Fund focuses on equity co-investments alongside private equity sponsors in U.S. middle market businesses to generate superior risk-adjusted returns.
– Churchill has a long-standing commitment as an LP in over 280 private equity funds.
– The Fund attracted a diversified global investor base, including sovereign wealth funds, pensions, insurance companies, fund of funds, foundations, asset managers, family offices, and high-net-worth individuals.
– Churchill commits over $1 billion annually to U.S. middle market PE funds and has invested over $11 billion since inception.
– The firm’s sponsor-centric model offers differentiated access to the U.S. middle market for investors.
– Jason Strife, Head of Junior Capital & Private Equity Solutions, highlighted Churchill’s 14-year track record as a reliable co-investor to top-tier GPs.
– Churchill leverages early access to pre-syndication deal flow to source a high volume of attractive investment opportunities.
– Nearly 20% of the Fund’s capital was raised from high-net-worth individuals, reflecting growing private wealth interest in alternatives.
– Moshe Bajnon, CAIA noted the increasing demand from individual investors for differentiated private capital strategies and emphasized Churchill and Nuveen’s leadership in expanding private market access.
