New York, NY, December 3, 2018 – Churchill Asset Management LLC (“Churchill”) today announced that it served as Joint Lead Arranger and Joint Bookrunner for a $185 million senior secured credit facility to support the acquisition of Eliassen Group, LLC (“Eliassen”) by funds managed by Stone Point Capital LLC (“Stone Point”).
Founded in 1989 and headquartered in Reading, MA, Eliassen is a leading provider of strategic consulting and talent solutions, with a focus on IT staffing, Agile consulting, creative services, managed services, government solutions and life sciences. The company has 20 offices across the country and serves over 400 clients.
“Over the last 30 years, Eliassen has built an award-winning platform known for delivering differentiated, high-value resources that empower clients to execute their business strategy, innovate and scale effectively,” said Randy Schwimmer, Senior Managing Director and Head of Origination & Capital Markets at Churchill. “We look forward to supporting Stone Point and Eliassen’s management team as the company continues on its phenomenal growth trajectory, particularly while leveraging Stone Point’s vast network within the global financial services industry.”
The financing represents the second transaction that Churchill has completed in support of Stone Point. Based in Greenwich, CT, Stone Point is a financial services-focused private equity firm that has raised and managed seven funds with aggregate committed capital of approximately $19 billion.
About Churchill Asset Management LLC
Based in New York, Churchill Asset Management LLC 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 $5.3 billion of committed capital under management and has broad experience in all aspects of the middle market financing business, including structuring, credit analysis, syndication, and deal monitoring and oversight. More information can be found at www.churchillam.com.
About Stone Point Capital LLC
Stone Point Capital LLC is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed seven private equity funds – the Trident Funds – with aggregate committed capital of approximately $19 billion. Stone Point Capital targets investments in the global financial services industry, including investments in companies that provide outsourced services to financial institutions, banks and depository institutions, asset management firms, insurance and reinsurance companies, insurance distribution and other insurance-related businesses, real estate finance and service businesses, specialty lending and other credit opportunities, mortgage services companies and employee benefits and healthcare companies. For more information about Stone Point Capital, visit www.stonepoint.com.
About Eliassen Group, LLC
Eliassen Group provides strategic consulting and talent solutions to drive our clients’ innovation and business results. Leveraging nearly 30 years of success, our expertise in IT staffing, Agile consulting, creative services, managed services, government solutions, and life sciences enables us to partner with our clients to execute their business strategy and scale effectively. Headquartered in Reading, MA, and with offices from coast to coast, Eliassen Group offers local community presence, deep networks, as well as national reach. For more information, visit www.eliassen.com.
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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.
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