Churchill Asset Management LLC, an investment-specialist affiliate of asset manager Nuveen, has completed fundraising for Churchill Junior Capital Opportunities Fund II with $737 million of limited partner commitments, exceeding its original target of $500 million and well above the size of its $300 million predecessor fund.
Churchill Asset Management LLC, an investment-specialist affiliate of asset manager Nuveen, has completed fundraising for Churchill Junior Capital Opportunities Fund II with $737 million of limited partner commitments, exceeding its original target of $500 million and well above the size of its $300 million predecessor fund.
The fund, an unlevered vehicle that invests in junior debt to private equity sponsor-backed US middle market companies, attracted equity commitments from a diverse base of institutional clients globally, including several large pension plans and insurance companies based in Europe and North America. The closing also included a $65 million rated note.
Led by Jason Strife, Senior Managing Director, Churchill’s Junior Capital & Private Equity Solutions team consists of 20 professionals focused on investing nearly $4 billion annually across junior capital, equity co-investments, secondaries and private equity fund commitments. The team has funded over $5 billion in nearly 200 junior capital transactions over the last decade, and now deploys more than $1 billion of junior capital per year.
