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
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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USG Water
USG Water
Lender
- Equity
- Structured Capital
- Subordinated Note
Warren Equity Partners
June 2026
-
Dobbs Tire & Auto Centers
Dobbs Tire & Auto Centers
Lender
- Subordinated Note
Audax Management Company
February 2026
-
-
Care Options for Kids
Care Options for Kids
Lender
- Subordinated Note
Webster Equity Partners
February 2026
News & Press
Churchill Asset Management Launches Capital Solutions Strategy, Appoints Noah Charney to Lead Business
New York, NY – August 12, 2026 – Churchill Asset Management, the U.S. asset management company of Nuveen Private Capital, today announced the launch of its Capital Solutions strategy and appointed Noah Charney as Managing Director and Head of Capital Solutions.
Randy Schwimmer talks private credit resilience on Bloomberg TV
New York, August 3, 2026 – Chief Investment Strategist Randy Schwimmer joins Bloomberg TV to discuss why default rate estimates vary across rating agencies, highlight the continued strength of Churchill’s core middle market portfolio amid current credit market conditions, and spotlight the firm’s thought leadership publication, The Lead, which offers insights on private capital for institutional and wealth channel investors.
Alona Gornick on S&P Global Private Markets 360 podcast to discuss risk, resilience, and relationships
New York, July 16, 2026 – In this episode of Private Markets 360°, Alona Gornick, Managing Director, Senior Investment Strategist at Churchill Asset Management, discusses Churchill’s differentiated approach, the advantages of its integration with Nuveen’s broader ecosystem, and its commitment to rigorous diligence and investor education.
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