Churchill’s Private Equity & Junior Capital team completes direct investment alongside Cornell Capital Partners in Advancing Eyecare

Charlotte, NC, August 1, 2022 Churchill Asset Management (“Churchill”) announced a direct investment in support of Cornell Capital Partners (“Cornell” or the “Sponsor”) in their acquisition of Advancing Eyecare (“AEC” or the “Company”). AEC is the #1 North American provider and distributor of ophthalmic products, delivering a portfolio of value-added products and services to private doctors, national accounts, governments, schools, distributors, and others. The Company sells its products through a portfolio of seven market-leading brands that cover the entire ecosystem of a doctor’s clinic, ranging from classic lane equipment (chairs, stands, slit lamps) to advanced tech (digital cornea mapping and refracting equipment).

“AEC has a diversified portfolio of ophthalmic products, market leading distribution position, and the potential to build a global presence through serial M&A,” Dodson Worthington, a Principal on Churchill’s Private Equity & Junior Capital team. “We are excited to partner with the Cornell team as they have extensive experience in eyecare, healthcare services, and distribution.”

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 $39 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 130 professionals in New York, Charlotte, Chicago, Dallas and Los Angeles. More information can be found at www.churchillam.com.

About Cornell Capital Partners

Cornell is a U.S.-based private investment firm with approximately $6 billion of AUM and offices in New York and Hong Kong. The Sponsor leverages decades of global investment experience and takes a disciplined approach to investing across the consumer, financial services, healthcare, and industrials/business services sectors, often in companies that can benefit from the Sponsor’s Asia presence and cross-border expertise. Cornell was founded in 2013 by Senior Partner Henry Cornell, the former Vice Chairman of Goldman Sachs’ Merchant Banking Division. For more information, please visit https://cornellcapllc.com/.

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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.

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.

Private equity investments are subject to certain risks. Please consider all risks carefully prior to investment 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.

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Churchill Asset Management
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