Global investment manager Nuveen combines two highly complementary businesses.

Nuveen has created a unique direct access private capital platform by bringing together its private equity and junior capital group with Churchill Asset Management. The latter is its middle-market senior loan and unitranche financing business.

Churchill is a majority-owned affiliate of Nuveen, and was recognized as “USA Lender of the Year” for 2018 at the USA M&A Atlas Awards.

The new platform, dubbed Churchill, will manage over 250 portfolio investments and more than 150 limited partner investments in middle-market private equity funds. It would be a one-stop capital source for private equity firms and institutional investors.

Nuveen had assets under management of over $1 trillion as of September 30, 2019, and operates in 24 countries.

Nuveen forms Churchill: A private capital investment platform

According to Ken Kencel, President and CEO of Churchill, it was a combination of two highly complementary businesses. Moreover, it is backed by the scale, capital, and resources of Nuveen.

It created one of the largest, most differentiated middle-market private capital investment platforms in the United States. Further, the platform is now a premier one-stop capital provider of choice to private equity firms and institutional investors.

Nuveen’s private equity and junior capital group manages a portfolio of nearly $9 billion of private equity fund commitments. It also invests alongside private equity sponsors in their transactions. Further, the team has deployed over $5 billion of junior debt and equity co-investment capital since 2011.

Churchill is a provider of senior and unitranche debt financing for middle-market companies, particularly those backed by top-tier private equity sponsors.

Both the senior lending and private equity and junior capital investment teams will continue to operate as usual. There will be no change to their investment focus or process.

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