Equity Co-Investment

Since 2011, we have provided our sponsor base with flexible, reliable capital to close on highly attractive U.S. middle market equity co-investments. Our sponsor-centric approach is hallmarked by our speed, certainty to close, and team with substantial middle market transaction experience.

$B

committed capital

Private credit
Private equity solutions
+
portfolio investments
+
investments realized1
%
early look/pre-syndication deals2
%
of deals were closed with a GP in our portfolio

1 As of 31 March 2024 since 2011. Equity co-investment platform was established in 2011; the first transaction was closed in August 2011. Weighted average (“W.A.”) IRR of each vintage’s cumulative cash flow is included due to the portfolio ramp since 2011. Churchill believes using a time-zero IRR better reflects the returns of individual in vestments, while a cumulative IRR over-weights earlier investments which results in a lower cumulative IRR.

2 Over the cour se of 2021 and 2022.

Churchill’s scale, experience, and 14+ year track record of consistency has positioned our program as a go-to co-investment partner to many of the top middle market sponsors.”

Derek Fricke
Head of Direct Investments

Derek Fricke

Investment criteria

Equity Co-Investment
Company size (EBITDA)

$10 - $100 mm

Maximum commitment

Up to $100 mm

Target investment

$10 - $100 mm

Capabilities
  • Common equity
  • Preferred equity

Insight

Streamlined investment process:

Investment committee

Deeper dive on key diligence areas, review third-party research, conduct industry calls and access financial and operating resilience

Recent transactions

Filter by:
  • Nellson Nutraceutical

    Lead Left Arranger

    • Senior Secured Credit Facility

    Kohlberg & Company

    April 2025

  • BrightSign

    Lead Left Arranger

    • Unitranche Credit Facility

    Graham Partners

    April 2025

  • CohnReznick

    Lender

    • Senior Secured Credit Facility

    Apax Partners

    March 2025

  • Lockwood

    Lender

    • Senior Secured Credit Facility

    Ares Management

    March 2025

News & Press

New York, NY, June 26, 2025 – Nuveen Private Capital, which is comprised of U.S. and European asset managers Churchill Asset Management and Arcmont Asset Management, today announced it has been named 2025 “Institutional Direct Lender Firm of the Year” in the 16th Annual International M&A Awards. The team will be honored at a black-tie gala on Tuesday, September 16th in New York City.

Read Full Article »

Churchill Asset Management
Location
375 Park Avenue, 9th Floor
New York, NY 10152
Phone
(212) 478-9200
Email
info@churchillam.com

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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.