Churchill’s Private Equity & Junior Capital team completes direct investment alongside Mountaingate Capital in The Mars Agency

Charlotte, NC, June 28, 2021 – Churchill Asset Management (“Churchill”) today announced a direct investment in The Mars Agency (“Mars” or the “Company”) in support of Mountaingate Capital (“Mountaingate”). Mars is a leading independent shopper marketing and connected commerce agency for blue-chip, global brand manufacturers and retailers. The Company features a differentiated go-to-market strategy, enabled by their proprietary shopper technology platform, “boots on the ground” retail intelligence and  customer development team and deep consumer packaged goods brand and retailer domain experience.

“Mars represents the largest pure-play shopper marketing agency in the U.S., with significant competitive advantages over media holding companies and smaller shopper agencies,” said Michael Chiulli, Principal on Churchill’s Private Equity & Junior Capital team. “Mars is an appropriate fit for Mountaingate’s digital, data and tech-driven marketing services vertical, which has consisted of several successful investments in this space. We are excited to invest alongside Mountaingate in this market leading company.”

Churchill’s Private Equity & Junior Capital team has now completed two direct investments with Mountaingate Capital, a middle market private equity platform based out of Denver, CO.

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 $31 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 100 professionals in New York, Charlotte and Chicago. More information can be found at

About Mountaingate Capital

Mountaingate Capital is a private equity investment partnership located in Denver, CO. Mountaingate’s sole mission is to partner with entrepreneurial management teams to advance lower middle market companies into industry leaders through a buy-and-build value creation strategy, with a rigorous adherence to customer-centric organic and acquisition growth. The firm starts with platform companies generating between $5 million and $2o million in EBITDA within their focus industry sectors where they have substantial experience and expertise: Digital, data and tech-driven Marketing/Business Services, and Value Add Specialty Manufacturing/Distribution.

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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, Member FINRA and SIPC.

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The material is for informational purposes only and should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. Certain products and services may not be available to all entities or persons. Past performance does not guarantee future results. Please note investments in middle market loans are subject to various risk factors, including credit risk, liquidity risk and interest rate risk. Churchill Asset Management LLC is a majority-owned subsidiary and member of the TIAA group of companies.