Co-investment
Rapid Rise of Direct Lending Pushes Firms to Split risk
NEW YORK, May 15, 2019 – “Regulated banks have been losing share to direct lenders for a while, thanks to higher lender holds. That dynamic has also allowed sponsors to avoid where possible the syndication process, which involves market risk,” said Randy Schwimmer, head of originations at Churchill…
Finding the Best Managers, CLOs and Direct Lenders
NEW YORK, Mar 29, 2019 – Churchill Middle Market Senior Loan Fund has been nominated as Best US Direct Lending Fund at Creditflux’s Manager Awards…
Shadow Banking Tops Lending Activity in Private Equity
NEW YORK, March 20, 2019 – Churchill Asset Management was featured on the most active lenders for U.S. buyouts and private-equity owned companies, according to PitchBook…
Investors Are Piling Into Loans That Banks Have Avoided Since the Crash
NEW YORK, December 17, 2018 – …Churchill’s CEO, Ken Kencel, steers clear of pockets of the market where discipline is slipping. He lends to mid-size U.S. firms where loans are senior-secured, meaning he’s first in line for payouts if the firm defaults. He lends to borrowers with strong cash flow, plenty of equity and junior debt that serve as buffers if the firm hits a bump. He’ll average an all-in yield of 7 percent to 7.5 percent…