Scale and a powerful sponsor network awards Churchill robust deal flow that is pre-vetted by top quartile sponsors2.”
Jason Strife
Head of Junior Capital and Private Equity Solutions
Investment criteria
Junior capital
Structured capital
Company size (EBITDA)
$10 - $100 mm
$10 - $100 mm
Target position size
$10 - $100 mm
$10 - $75 mm
Capabilities
- 2nd lien
- Subordinated notes
- PIK HoldCo notes
- Preferred equity
- Customized structures
Insight
White paper
Private capital in 2026: Foundations for a changing market
Lower financing costs, improving buyer-seller alignment and pressure on sponsors to transact may create a more constructive environment for private capital this year…
Streamlined investment process:
Originate
Evaluate opportunities from leading private equity sponsors and deal intermediaries.
Analyze
Conduct initial company and industry analysis, prepare preliminary financial models, and form a view on debt structure.
Early deal discussion
Engage in management meetings, perform exploratory financial due diligence, and assess industry trends, competitive landscape, and transaction structure.
Investment committee
Conduct diligence in key areas, review third-party research, arrange industry calls, and evaluate financial and operational resilience. Present to investment committee for final approval.
Closing
Negotiate and finalize legal documentation, manage the capital funding process, and ensure a seamless transition into portfolio monitoring.
Originate
Analyze
Early deal discussion
Investment committee
Closing
Recent transactions
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Dobbs Tire & Auto Centers
Dobbs Tire & Auto Centers
Lender
- Subordinated Note
Audax Management Company
February 2026
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Care Options for Kids
Care Options for Kids
Lender
- Subordinated Note
Webster Equity Partners
February 2026
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News & Press
Ken Kencel joins Bloomberg TV live from the 2026 Milken Institute Global Conference
New York, May 5, 2026 – CEO Ken Kencel joins Bloomberg TV to discuss the current state of private credit markets, highlighting how credit fundamentals remain strong despite the broader media narrative.
Churchill Asset Management Enhances Investor Education and Client Engagement with Strategic Hires
New York, May 4, 2026 – Churchill Asset Management LLC, the U.S. asset management company of Nuveen Private Capital, today announced the appointments of Michael Pond as Managing Director, Senior Investment Strategist; Brett Graffy as Managing Director, Investment Strategist; and Peter Repetto as Principal, Head of Research and Investment Insights…
Ken Kencel on the state of private credit
New York, March 30, 2026 – CEO Ken Kencel joins Bloomberg Open Interest to discuss recent headlines around redemptions and the challenge of applying short-term liquidity expectations to long-term investments.