Investment Criteria
Company Size (EBITDA)
Maximum Commitment
Average Investment
$10 mm - $100 mm
Up to $150 mm
$10 mm - $75 mm
Highly Selective Investment Process:
We have stringent underwriting standards focused on relative value, strong credit statistics and a high level of portfolio diversity.
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Initial vetting & structuring
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Early assessment
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Full due diligence
Recent Junior Capital Transactions
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Columbia Home Services
Columbia Home Services
Lender
- Equity
- Subordinated Note
Tenex Capital Management
May 2025
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Caldwell & Gregory
Caldwell & Gregory
Lender
- Second Lien Term Loan
Incline Equity Partners
September 2024
News & Press
IO&C – How Investors Came to Dominate Corporate Lending
SYDNEY, AUSTRALIA, August 30, 2015 – Lending to medium-to-large corporates has taken on a different hue in recent years. Pension funds, generally through their fund managers, are now the most important group of lenders ahead of the major banks, especially in the US. The restructuring of GE Capital and its parent in April this year confirmed the permanence of the trend.
Hold Your Nose and Buy the Recap – Sometimes
NEW YORK, August 6, 2015 – It’s a perennial source of angst for loan buyers that target private equity-backed companies: how do you analyse transactions that finance a distribution to the sponsor by taking invested cash out of the company?
Churchill Asset Management Appoints Christopher Cox as Chief Risk Officer
NEW YORK, July 27, 2015 – Churchill Asset Management LLC (“Churchill”), a majority-owned subsidiary of TIAA-CREF focused on originating, underwriting and managing senior loan investments, today appointed Christopher Cox as a Senior Managing Director and Chief Risk Officer. The appointment is effective immediately.
1. Includes both junior and structured capital.