Churchill Asset Management has raised over $16bn (£11.9bn) for its most recent senior lending programme, its largest capital raise to date.
The US alternatives behemoth said that this includes the closings of the fifth vintage of its flagship senior loan strategy, as well as separately managed accounts.
The funds attracted commitments from around 325 institutional and high-net-worth investors globally, including public and private pension plans, insurance companies, superannuations and family offices based in North America, Europe, the Middle East and Asia.
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“This record capital raise highlights the strength and resiliency of Churchill’s private credit platform and the attractiveness of core middle market senior lending,” said Ken Kencel, president and chief executive of Churchill.
“It also underscores the increasingly important role that private credit plays within investment portfolios today – particularly for those seeking solid risk-adjusted returns and diversified access to high quality mid-sized businesses.”
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Churchill’s senior lending strategy provides first lien and unitranche financing to sponsor-backed US middle market companies.
Together with its sister company, Arcmont Asset Management, Churchill is part of Nuveen Private Capital, a $94bn global private capital platform and one of the world’s largest private debt managers.
