Over the past two decades, the private equity secondaries market has transformed into one of the highest growth yet, in our opinion, most undercapitalized areas of alternative investments.”
Nick Lawler
Head of Secondaries
Investment criteria
Secondaries
Target transaction size
$10 mm - $1 bn
Target position size
$10 - $150 mm
Capabilities
- GP-Led: Single & muti-asset continuation funds
- LP-Led: LP interests
Target % of portfolio3
- GP-Led: 70-80%
- LP-Led: 20-30%
Insight
Publication
PEI – Secondaries’ evolving use case
Secondaries technology is increasingly proving its worth as a multi-faceted tool for GPs and LPs, says Churchill Asset Management’s head of secondaries, Nick Lawler…
Streamlined investment process:
Originate
Evaluate opportunities through the lens of Churchill's sponsor relationships, portfolio insights, and industry expertise to assess strategic fit and information advantage.
Analyze
Conduct initial company and industry analysis, review comparable transactions, and prepare preliminary financial models.
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
News & Press
Exclusive: Nuveen Private Capital hits $100bn after three-year fundraising drive
New York, October 19, 2026 – Nuveen Private Capital has passed $100bn (£75bn) in committed capital, growing by more than half in three years despite the turbulence rattling…
Nuveen Private Capital surpasses $100 billion in committed capital
London, UK – October 19, 2026 – Nuveen Private Capital, comprised of two leading U.S. and European asset managers Churchill Asset Management (“Churchill”) and Arcmont Asset Management (“Arcmont”), today announced it has surpassed $100 billion in committed capital, marking a significant milestone in the platform’s growth.
Randy Schwimmer talks core middle market resilience on Bloomberg Radio
New York, September 10, 2026 – Randy discusses growing deal activity and private equity exits, and the resilience of core middle market businesses with steady, recurring revenue and reduced exposure to headline risk.
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