New York, NY, June 22, 2020 – Churchill Asset Management LLC (“Churchill”), an investment-specialist affiliate of Nuveen providing customized financing solutions to private equity firms and their portfolio companies, today announced that the firm was recognized for its lending leadership in the Q1 2020 U.S. League Tables published by PitchBook Data, Inc., a Seattle-based financial data and technology company. Churchill’s most notable rankings are included below:
- #2 Most Active Lender to U.S. Private Equity-Backed Middle Market Companies
- #1 Most Active Lender in U.S. Buyouts
- #1 Most Active Senior Lender to U.S. Private Equity-Backed Companies
“We are thrilled to be recognized by Pitchbook as one of the top lenders in the middle market and are very grateful to our private equity clients for their continued confidence in us and partnership, many for over a decade,” said Ken Kencel, President and Chief Executive Officer of Churchill. “Churchill has a long history of disciplined investing across economic cycles, and particularly in light of today’s market environment, I’m incredibly proud of the market leading, best-in-class team and private capital platform we have built.”
With the January 2020 integration of Nuveen’s private equity and junior capital group with Churchill’s award-winning senior lending business, Churchill’s investment teams closed more than $5.4 billion in over 185 investments in the last 12-month period ended March 31, 2020. The combination also tripled the firm’s committed capital, creating what is now a $24 billion direct access platform that offers solutions across the capital structure in senior and junior debt, as well as private equity investments.
Churchill was also recently recognized as the 2019 “USA Lender of the Year” by the Global M&A Network and 2019 “Lender Firm of the Year” by the M&A Advisor. Additionally, the firm’s flagship levered fund, Churchill Middle Market Senior Loan Fund, LP, was named a finalist for Best U.S. Direct Lending Fund in the 2020 CreditFlux Manager Awards. The winner will be announced on July 15, 2020.
To download Pitchbook’s Q1 2020 US PE Middle Market Lending League Tables, click here.
To download Pitchbook’s Q1 2020 US PE Lending League Tables, click here.
About Churchill Asset Management LLC
Churchill, an investment-specialist affiliate of Nuveen (the asset manager of TIAA), provides customized financing solutions to middle market private equity firms and their portfolio companies across the capital structure. With $24 billion of committed capital, we provide first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments and private equity fund commitments. Churchill has a long history of disciplined investing across multiple economic cycles and our unique origination strategy, best in class execution and investment are driven by more than 75 professionals in New York, Charlotte and Chicago. More information can be found at www.churchillam.com.
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Rankings determined by Pitchbook Data based on total number of eligible transactions from January 1, 2020 to March 31, 2020. Eligible transactions are primary transactions for U.S.-based private equity-backed companies. The “most active U.S. PE middle market lender” league table comprises 27 companies. The “most active U.S. buyouts lender” league table comprises 54 companies. The “most active U.S. PE senior lender” league table comprises 42 companies.
This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, 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. Past performance is no guarantee of future results.
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, Member 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.