Churchill is one of the largest and most experienced private debt managers in the U.S., ranking #1 most active U.S. Buyouts Lender for 2024 by PitchBook1.”
Mathew Linett
Head of Senior Lending
Investment criteria
Senior lending
Company size (EBITDA)
$10 - $100 mm
Target position size
$50 - $500 mm
Target markets
- Traditional middle market
- Upper middle market club
Capabilities
- 1st lien
- Unitranche
- Revolving credit
- DDTL
Insight
White paper
The year ahead: top 5 private capital trends
Private capital stands primed to capitalize on what looks set to be a favorable environment for generating returns and income as the macroeconomic fog clears,…
Industry expertise
From our experience in investing through various cycles, we have deep expertise across a broad range of industries. We focus on issuers with strong market positions, differentiated value propositions and sustainable competitive advantages.
Recent transactions
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Heartland Business Systems
Heartland Business Systems
Lead Left Arranger
- Senior Secured Credit Facility
GenNx 360 Capital Partners
October 2025
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Industrial Air Flow Dynamics
Industrial Air Flow Dynamics
Sole Lead Arranger
- Senior Secured Credit Facility
Incline Equity Partners
August 2025
-
Penta Group Holdings
Lead Left Arranger
- Senior Secured Credit Facility
Shamrock Capital Advisors
July 2025
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News & Press
Private debt’s show of strength
New York, October 22, 2025 – In this podcast, Randy discusses why lenders who have built strong relationships with investors through market cycles are well-placed to benefit from market uncertainty.
Churchill’s Ken Kencel to receive the 2025 Lifetime Achievement Award and be inducted into the M&A Advisor Hall of Fame
New York, NY, October 14, 2025 – The M&A Advisor is proud to announce that Ken Kencel, President and CEO of Churchill Asset Management, will be recognized as The M&A Advisor’s 2025 Lifetime Achievement Award recipient. Mr. Kencel will be honored for his significant contributions in the fields of private capital and middle-market finance at the 2025 Future of Dealmaking Summit, on November 18th & 19th in New York City. Mr. Kencel will also be formally inducted into The M&A Advisor’s Hall of Fame…
From Bullpen to Boardroom: Ken Kencel on 40 Years in Credit
New York, October 10, 2025 – In this episode of CAIS Live Conversations: Building With Alts—Brad Walker talks with Ken Kencel, Founder, President, & CEO of Churchill Asset Management, about the growth in private credit.