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Alternative Assets  + Private Debt  | 
Churchill Asset Management Closes Second Junior Debt Fund at $737M

Churchill Asset Management Closes Second Junior Debt Fund at $737M

Churchill Asset Management, the investment affiliate of Nuveen (the asset manager of TIAA), has closed the Churchill Junior Capital Opportunities Fund II at $737mn, surpassing its initial target of $500mn and more than doubling its first junior debt fund of $300mn, which closed in 2019.

The fund is an unlevered vehicle that invests in junior debt to private equity sponsor-backed US middle market companies.

“We are very proud to build upon Churchill’s successful middle market junior capital strategy with our latest offering,” said Jason Strife, Senior Managing Director, Head of Junior Capital & Private Equity Solutions at Churchill.

The NY-based private asset manager, with over $46bn in capital, provides first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments and private equity fund commitments.

The Churchill team, led by Strife, has funded more than $5bn in nearly 200 junior capital deals over the last decade, and now deploys more than $1bn of junior capital a year.

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Churchill Asset Management

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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