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Alternative Market Briefing

Churchill racks up $2bn for second mid-market private equity focussed senior loan fund

Wednesday, March 25, 2020

Laxman Pai, Opalesque Asia:

Churchill Asset Management announced that it has completed fundraising for the Churchill Middle Market Senior Loan Fund II with $2 billion in limited partner commitments, exceeding its original target of $1 billion.

Churchill is an investment-specialist affiliate of Nuveen providing customized financing solutions to private equity firms and their portfolio companies.

Churchill Middle Market Senior Loan Fund II is an unlevered vehicle that invests in traditional senior and unitranche loans to private equity sponsor-backed U.S. middle-market companies.

The fund attracted equity commitments from a diverse base of institutional clients globally, including several large pension plans and insurance companies, based in Europe, North America and Asia.

"We are very proud to build upon Churchill's successful middle market senior lending strategy with this latest offering," said Ken Kencel, President & Chief Executive Officer of Churchill.

"The strong level of support received from institutions across the globe provided further evidence that investors recognize Churchill's leadership position in the middle market, as well as the value of our longstanding private equity sponsor relationships, unique sourcing model and disciplined investment approach," he added.

Churchill now manages nearly $23 billion of committed capital, including more than $8 billion dedicated to the firm's senior lending strategy through a variety of investment vehic......................

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