Login to access your documents and resources.
The client portal are currently unavailable
Which type of investor are you?
Abstract wave pattern

Churchill Asset Management

Churchill Asset Management

About Churchill Asset Management

Churchill, an investment-specialist affiliate of Nuveen (the asset manager of TIAA), provides customized financing solutions to private equity firms and their portfolio companies across the capital structure. Our solutions include first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments and private equity fund investments. With a long history of disciplined investing across multiple economic cycles, Churchill’s unique origination strategy, superior execution and investment are driven by more than 60 professionals in New York, Charlotte and Chicago, drawing on the resources of one of the world’s largest asset managers1.
  • Stability: Reliable and consistent partner to private equity and investor clients with a track record spanning economic cycles
  • Flexibility: Capability to invest at all levels of the capital structure
  • Relationship-driven: Unique origination model empowers us to source proprietary investment opportunities from established relationships in the private-equity community
  • Alignment: Through the significant capital commitment of our parent company TIAA, we invest materially alongside our investors in every deal we do

A leading capital provider for private equity-owned, middle-market companies

$21.5B

of committed capital under management
275+

loans agented
150+

LP investments in private equity funds
830+

transactions closed

Who we are

Supported by the scale of Nuveen and a best-in-class institutional infrastructure, our highly experienced investment teams deliver flexible and reliable financing solutions to middle market private equity sponsors and their portfolio companies.

14

year cycle-tested track record
25+

years of average experience of senior management team
20+

year history as an active private equity co-investor
60+

dedicated investment and support professionals

Our team


We serve as a long-term partner and provider of capital to the middle market. Led by seasoned professionals with an average of more than 25 years of industry experience, our team’s consistency and strong, cohesive culture anchored in fundamental business model analysis is highly valued by investors and private equity firms alike.

Value proposition

  • Reliable partner for both private equity sponsors and investors
  • Senior management involved in all aspects of deal process
  • Agile and responsive team with consistent investment approach

Why Churchill

Differentiated middle market access through a longstanding, scaled and well-aligned private capital platform

  1. Experienced management with 14-year cycle-tested track record

    Averaging over 25 years of experience in the middle market, our senior management team has worked together for over a decade and demonstrated an ability to effectively invest across market cycles. Our team’s consistency and strong culture anchored in fundamental credit analysis continues to be highly valued by investors and private equity firms alike.     
  2. Leveraging the scale of Nuveen

    Churchill benefits from the scale, capital and resources of Nuveen, a trillion-dollar global asset manager. Leveraging Nuveen’s international distribution capabilities, high touch client services platform, and compliance and support infrastructure allows us to focus on what we do best – originating, underwriting, and managing high quality, diversified portfolios to help clients meet their risk/return objectives.
  3. Unique alignment proposition

    TIAA, our parent company, is an integral part of the firm’s committed capital base and invests alongside our investors in every transaction we do, a unique and powerful alignment construct. Investors can feel confident that our success is tied to the results we deliver.
  4. Direct origination platform with proprietary access

    Churchill’s dedicated origination team has cultivated deep relationships with over 200 leading private equity sponsors solidifying our position as a trusted partner offering reliable financing solutions across the capital structure of their middle market clientele. Our relationships are supported by our nearly $9 billion invested as a limited partner in middle market private equity funds.      
  5. Conservative approach

    We are committed to protecting and growing our investor’s capital by applying a rigorous, streamlined, and time-tested underwriting approach to every opportunity we evaluate. We remain highly selective and target investment opportunities that are capitalized appropriately, exhibit strong free cash flow characteristics, and maintain defensible market positions. Our alignment with top-tier private equity sponsors with deep sector expertise is an important construct of our investment philosophy.


Our approach


Flexibility across the capital structure: We are unique in our ability to provide capital across all levels of the capital structure, including senior and junior debt, equity co-investments and limited partnership investments.

Our capabilities


Senior lending
  • Senior secured first lien loans
  • Unitranche loans
Junior capital
  • Second lien loans
  • Mezzanine loans
Equity solutions
  • Equity co-investments
  • Limited partnership commitments
Selective and diversified portfolio: From our experience in investing across a diverse set of industries through various cycles, we have deep expertise across a broad range of industries. We focus on issuers with strong market positions with differentiated value propositions and sustainable competitive advantages.

  • Scale: We continue to support our portfolio companies through the entire life of the investments
  • Relationship focused: Through the years, we have developed a high level of trust with our private equity sponsors through consistency and reliability
  • Experience through a cycle: 14-year track record with significant expertise across a variety of economic environments
  • Nationally recognized middle market lender

Our offerings


Churchill offers a wide range of investment products to meet the varying needs of our investor clients. Churchill understands that all investors have individual priorities, requirements and risk/return preferences. Through an array of middle market senior and junior capital products, we aim to offer a wide range of investment solutions to accommodate the various needs of our clients.

We have extensive experience structuring offerings for both domestic and international institutional investors, including pension funds, insurance companies, family offices, endowments and foundations. In partnership with Nuveen’s global distribution team, we welcome the opportunity to meet with you and share more our nationally-recognized platform.

  • Commingled Funds
  • Separately Managed Accounts
  • Regulated Products
  • Collateralized Loan Obligations

 

Churchill Asset Management

1Pensions & Investments, 30 Sept 2019. Rankings based on institutional tax-exempt assets under management as of 30 Jun 2019 reported by each responding asset manager.