Leading Middle Market Credit Manager Ranked Second Most Active US PE Middle Market Lender and Third Most Active US PE Senior Debt Lender in 2Q 2019
New York, NY, October 4, 2019 – Churchill Asset Management LLC (“Churchill”) today announced that the firm was recognized for its lending leadership in the 2Q 2019 US Lending League Tables published by Seattle-based financial data and technology company PitchBook Data, Inc. Most notably, Churchill was recognized as the second Most Active US PE Senior Debt Lender and third Most Active US PE Middle Market Lender.
“This latest recognition is a testament to the quality of our tremendous team, best-in-class direct lending platform we have built and the strong private equity sponsor relationships we have cultivated, which continue to generate substantial deal flow, even in a market where overall middle market deal volume is behind the pace of last year,” said Ken Kencel, President and Chief Executive Officer of Churchill.
Churchill continues to solidify its position as a trusted partner to private equity firms and a leading provider of senior and unitranche debt financing to middle market companies. During the second quarter of 2019, Churchill had one of the most active quarters in the firm’s history, closing or committing to 20 new investments and 20 add-on investments totaling more than $1.1 billion. The firm served as a lead agent on over one third of the new investments during the quarter and as an agent on nearly 50%. In addition, during the last 12-month period ended June 30, 2019, Churchill closed or committed to a twelve-month record of $3 billion of investments across 51 new borrowers and 51 add-on investments.
Churchill’s market leading platform was also recently recognized as the 2018 “USA Lender of the Year” by the Global M&A Network and Churchill is a finalist for “Lender Firm of the Year” in the 18th Annual M&A Advisor Awards, which will be announced in November.
About Churchill Asset Management LLC
Based in New York, Churchill Asset Management LLC, a majority-owned affiliate of Nuveen (the asset manager of TIAA) is a leading provider of senior and unitranche debt financing for middle market companies, particularly those backed by top-tier private equity sponsors. Churchill has $6.8 billion of committed capital under management and has broad experience in all aspects of the middle market financing business, including origination, structuring, credit analysis, syndication, and deal monitoring and oversight. More information can be found at www.churchillam.com.
PitchBook is a financial data and software company that provides transparency into the capital markets to help professionals discover and execute opportunities with confidence and efficiency. PitchBook collects and analyzes detailed data on the entire venture capital, private equity and M&A landscape including public and private companies, investors, funds, investments, exits and people. The company’s data and analysis are available through the PitchBook Platform, industry news and in-depth reports. Founded in 2007, PitchBook has offices in Seattle, San Francisco, New York and London and serves more than 23,000 professionals around the world. In 2016, Morningstar acquired PitchBook, which now operates as an independent subsidiary.
This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor or suggest any specific course of action. Financial professionals should independently evaluate the risks associated with products or services and exercise independent judgment with respect to their clients.
Churchill Asset Management is a registered investment advisor and majority-owned, indirect subsidiary of Teachers Insurance and Annuity Association of America. Certain Nuveen products are advised by Nuveen Alternatives Advisers LLC, a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, Members FINRA and SIPC.
Investments in middle market loans are subject to certain risks. Please consider all risks carefully prior to investing in any particular strategy. These investments are subject to credit risk and potentially limited liquidity, as well as interest rate risk, currency risk, prepayment and extension risk, and inflation risk.