Charlotte, NC, April 16, 2021 – Churchill Asset Management (“Churchill”) today announced a direct investment in support of Cornell Capital LLC (“Cornell”) as they combine trustaff Management, Inc., CardioSolution, Fastaff Travel Nursing® and U.S. Nursing Corporation® with technology platform Stella.ai, Inc. (collectively “CCRR” or the “Company”). CCRR will create a leading player in the contingent healthcare staffing space with an expertise in travel nurse staffing, rapid response staffing, strike preparedness and other healthcare related job action services.
“The combination of these platforms establishes a scaled, differentiated player in the nurse staffing industry, which is expected to grow as the supply / demand imbalance for nurses persists across the U.S.,” said Dodson Worthington, a Principal on Churchill’s private equity & junior capital team. “We are excited to support Cornell as they leverage their capabilities and relationships to build a unique, tech-enabled platform in a sector with strong underlying growth fundamentals.”
This represents the fifth transaction Churchill’s private equity & junior capital team has completed in support of Cornell, a New York and Hong Kong-based private investment firm focused on partnering with market-leading businesses across the consumer, industrial and business services, and financial services sectors.
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 $30 billion of committed capital, Churchill provides 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 80 professionals in New York, Charlotte and Chicago. More information can be found at www.churchillam.com.
About Cornell Capital
Cornell Capital LLC is a U.S.-based private investment firm with over $4.0 billion of AUM and offices in New York and Hong Kong. Partnering with strong, entrepreneurial management teams, the firm takes a value-oriented approach to investing across the consumer, financial and industrial sectors. Founder and Senior Partner Henry Cornell, who served as the Vice Chairman of Goldman Sachs’ Merchant Banking Division prior to founding Cornell Capital in 2013, leads a highly-seasoned senior leadership team with decades of shared investing experience. For more information, visit https://cornellcapllc.com/.
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