Articles

NEW YORK, September, 2019 – ...“While we have seen the yield curve invert a couple of times, we have not yet begun to see any related cracks in our portfolio,” says Ken Kencel, chief executive of Churchill Asset Management. “The question on everyone’s mind continues to be: what innings are we in? How long will this stage of the US economic cycle last?”...

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NEW YORK, September, 2019 – The mid-market continues to attract private debt investors as the Federal Reserve cuts interest rates. Could this provide more juice to the economy and fuel a red-hot deal market, or are we nearing the end of the credit cycle, Andrew Hedlund asks a panel of experts...

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NEW YORK, August 9, 2019 – A deteriorating credit environment is expected to prove challenging for new US middle market loan platforms, whose fee revenue may not be enough to support them through stressful periods. Against this backdrop, a manager’s track record, alignment of interest and competitive advantages should be among investors’ primary considerations...

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NEW YORK, July 4, 2019 – At the Creditflux Debtwire US Mid-Market Forum last month, Churchill Asset Management chief executive officer Ken Kencel noted that his firm had avoided the larger end of the middle market for several years because of unfavourable dynamics, such as covenant-lite structures creeping into the space. But more recently the upper mid-market had begun to adopt “more of a traditional execution with covenants, more attractive pricing and leverage,” he said at the event...

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Churchill Asset Management
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430 Park Avenue, 14th Floor
New York, NY 10022
Phone
(212) 478-9200
Email
info@churchillam.com

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The material is for informational purposes only and should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. Certain products and services may not be available to all entities or persons. Past performance does not guarantee future results. Please note investments in middle market loans are subject to various risk factors, including credit risk, liquidity risk and interest rate risk. Churchill Asset Management LLC is a majority-owned subsidiary and member of the TIAA group of companies.