Global investment manager Nuveen is creating a one-stop capital source for private equity firms and institutional investors worth billions.
Nuveen is bringing its private equity and junior capital group together with Churchill Asset Management, its middle-market senior loan and unitranche financing business, to create the direct access platform.
The platform has over $21 billion in committed capital.
“The combination of these two highly complementary businesses – backed by the scale, capital and resources of Nuveen – creates one of the largest, most differentiated middle-market private capital investment platforms in the United States, allowing us to be a premier one-stop capital provider of choice to private equity firms and institutional investors,” said Ken Kencel, president and chief executive of Churchill.
“Our experienced investment teams and deep relationships in the sponsor community are an excellent fit.”
The combined platform will operate as Churchill, managing over 250 portfolio investments and more than 150 limited partner investments. Collectively, the combined businesses invest over $5 billion annually in more than 100 middle-market companies.