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Churchill Asset Management has raised $12 billion for its latest senior-lending program, taking advantage of the demand for private credit as an alternative to traditional bank loans. The New York-based firm secured commitments from around 150 institutions and wealthy individuals, allocating the funds across various investment vehicles. As a majority-owned affiliate of Nuveen, Churchill specializes in providing financing to midmarket companies backed by private equity. Despite a decline in mergers and acquisitions, Churchill remains on track for a record year, with over $8 billion committed to supporting more than 250 midmarket companies, according to Ken Kencel, the firm's president and CEO.
Sunday, 9 October, 2022