Churchill Asset Management raised over $12 billion in third-party capital for its most recent senior lending program, which includes the closings of Churchill’s flagship levered and unlevered senior loan funds, publicly registered vehicles and separately managed accounts.
“The senior lending asset class is particularly attractive in today’s market environment given the floating rate nature of the investments, strong current income potential, significant lender protections and senior position in the capital structure,” said Ken Kencel, president and CEO of the $41 billion Churchill, in a statement. “The volatility and more limited availability of credit in the public markets this year has accelerated investment activity for Churchill, while our scale, differentiated sourcing approach and proven track record provides our firm a unique opportunity to capitalize on the long-term trend towards flexible private debt solutions.”
With a team of over 140 employees, Churchill provides first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments and private equity fund commitments.
Within senior lending, the investment committee has worked together for more than 16 years, funding over $25 billion of middle market senior loans in approximately 770 transactions utilizing a focused and disciplined investment strategy that has been tested over several economic cycles.
