Private Equity Fund Commitments

For over two decades, Churchill has built a differentiated primaries platform by being a meaningful LP who supports our GPs through multiple vintages. This drives deep relationships and leads to further collaboration with our GPs on direct deal flow throughout senior lending, junior capital, equity co-investment, and secondaries.

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committed capital

Private credit

Private equity solutions

Overview page

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fund commitments

top quartile GPs¹

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fund with advisory board seats

We really view our LP commitments through a partnership lens. We invest as a significant limited partner and often serve as an advisory board member offering our GPs our full suite of firmwide value added capabilities up and down the balance sheet.”

Anne Philpott, CFA
Head of Private Equity Fund Investments

Investment criteria

PE fund investments

Target fund size²

$500 mm - $2.5 bn+

Commitment size³

$30 - $60 mm

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View footnotes

All numbers are as of March 31, 2026.

Committed Capital refers to capital committed to client accounts in the form of equity capital commitments from investors, as well as committed, actual or expected financing from leverage providers. For purposes of this calculation, both drawn and undrawn equity and financing commitments are included. Committed capital figures may be adjusted over the course of a financial period, based on accounts transitioning the calculation methodology from capital commitment to invested capital. Estimated and unaudited.

¹Defined as GPs in the 2023 and 2024 vintages with at least one fund that measures top quartile on a MOIC or IRR basis using Burgiss or Cambridge Associates U.S. Buyout indices for the relevant vintage.

²Target fund size of private equity fund in which Churchill intends to invest.

³Churchill commitment to private equity fund.

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Churchill’s select private equity fund relationships

Churchill has committed $12+ billion in middle market private equity funds driving improved access to deal flow.

Primary strategy

Diversified

Industry specialist

Operationally focused

Sourcing specialists

Small-cap/LMM focus

News & Press

Randy Schwimmer joins Bloomberg “The Close”

New York, July 6, 2026 – Chief Investment Strategist Randy Schwimmer joins Bloomberg TV to discuss deal sourcing in the U.S. core middle market and partnering with leading private equity sponsors to grow resilient portfolios against macro headlines.

View full video »

In Conversation with Julie Segal: Churchill’s Ken Kencel on Private Credit’s Second Act

New York, July 2, 2026 – Churchill Asset Management CEO Ken Kencel describes that recent redemption pressures say less about private credit itself, but rather that investors and managers are still adjusting to the realities of an illiquid asset class. As he puts it, private credit isn’t “semi-liquid.” It’s fundamentally illiquid, and products need to reflect that.

Listen now »

Ken Kencel on Bloomberg TV Live from SuperReturn International

New York, June 10, 2026 – Churchill Asset Management CEO Ken Kencel described the current private credit landscape as a “platinum period,” where market disruptions — including retail redemptions and overexposure to software loans — are creating fresh opportunities for traditional middle market lenders…