• Churchill Asset Management LLC, the U.S. private capital affiliate of Nuveen, a TIAA company Private Capital, raised over $16 billion in committed capital for its latest senior lending program, the largest capital raise in the firm’s history.
• The raise includes the fifth vintage of Churchill’s flagship senior loan strategy across levered, unlevered, and evergreen vehicles, as well as separately managed accounts.
• Approximately 325 institutional and high net worth investors participated globally, including public and private pension plans, insurance companies, superannuation funds, and family offices.
• Investors are based across North America, Europe, the Middle East, and Asia.
• The capital raise highlights strong demand for core middle-market senior lending and the growing role of private credit in diversified investment portfolios.
• Ken Kencel, President & CEO of Churchill, said: “This record capital raise highlights the strength and resiliency of Churchill’s private credit platform and the attractiveness of core middle market senior lending. It also underscores the increasingly important role that private credit plays within investment portfolios today – particularly for those seeking solid risk-adjusted returns and diversified access to high quality mid-sized businesses.”
• Churchill’s senior lending strategy focuses on first lien and unitranche financing for U.S. middle-market companies backed by leading private equity sponsors.
• The platform is supported by scale, a 20-year track record across market cycles, an experienced investment team, and long-standing private equity sponsor relationships.
• Churchill is also an active limited partner in more than 330 private equity funds.
• Beyond senior lending, Churchill offers junior capital, equity co-investments, and secondaries strategies across the capital structure.
• Together with Arcmont Asset Management, Churchill operates within Nuveen Private Capital, a $94 billion global private capital platform and one of the world’s largest private debt managers.
