Secondaries
Churchill formally launched its secondaries platform in 2022 to further expand its capabilities across the capital structure. We employ a flexible approach to secondaries investing with a proven ability to lead transactions, and a bias towards GP-led transactions, which are complemented by LP interests.
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committed capital
1 As of March 31, 2024. This figure represents investments in our core secondaries strategy, “CSSI,” which includes all secondary investments made by Churchill's secondaries investment team since the program's inception in 2022.
Over the past two decades, the private equity secondaries market has transformed into one of the highest growth yet, in our opinion, most uncapitalized areas of alternative investments.”
Nick Lawler
Head of Secondaries
Investment criteria
Secondaries
Target transaction size
$10 mm - $1 bn
Target investment size
$10 - $100 mm
Capabilities
- GP-Led: Single & muti-asset continuation funds
- LP-Led: LP interests
- Other: Preferred equity, tender offers…etc.
Target % of portfolio
- GP-Led: 70-80%
- LP-Led: 20-30%
Insight
White paper
The year ahead: top 5 private capital trends
Private capital stands primed to capitalize on what looks set to be a favorable environment for generating returns and income as the macroeconomic fog clears,…
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
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Nellson Nutraceutical
Nellson Nutraceutical
Lead Left Arranger
- Senior Secured Credit Facility
Kohlberg & Company
April 2025
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News & Press
Markets aim to rally on calming news and data
June 26th, 2025 – Randy Schwimmer, Vice Chairman and co-head of Senior Lending at Churchill Asset Management, discusses renewed confidence in private equity and whether there’s rising risks in private credit…
Nuveen Private Capital Named 2025 “Institutional Direct Lender Firm of the Year” in the 16th Annual International M&A Awards
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.
Middle Market Private Equity Firms Cautiously Optimistic on M&A, Exits and Returns, Churchill Asset Management Survey Finds
New York, NY, June 24, 2025 – The survey polled 164 senior leaders from Churchill’s private equity relationships to gauge sentiment in today’s market environment and how these perspectives are influencing investment decisions.