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
Nuveen Private Capital appoints Robert Rdzak as Managing Director, Consultant Relations
New York, NY – September 9, 2026 – Churchill Asset Management and Arcmont Asset Management, the U.S. and European asset management companies of Nuveen Private Capital (“NPC”), announced Robert Rdzak has joined as Managing Director, Consultant Relations. In this newly created role, he will lead engagement with institutional investment consultants across North America in support of NPC’s $99 billion global private capital platform.
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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