Charlotte, NC, November 18, 2020 – Churchill Asset Management (“Churchill” or the “Firm”) today announced a direct investment in American Institute of Architects Contracts Division (“ACD” or the “Company”) in support of True Wind Capital’s acquisition of the Company. ACD, a subsidiary of The American Institute of Architects, is a contract management software platform for the Architecture, Engineering and Construction industry. Headquartered in Washington DC, the Company’s market-leading software and standardized contracts platform offers a library of 200+ customizable contract templates utilized by an active user base of over 40,000 professionals.
“Churchill remains steadfast in its approach of investing in recession-resilient business strategies with strong industry fundamentals,” said Derek Fricke, Principal on the private equity & junior capital team at Churchill. “ACD’s strong brand recognition coupled with True Wind Capital’s deep technology expertise position the Company well to execute on a long-term growth strategy.”
This represents the second transaction Churchill’s private equity & junior capital team has completed in support of True Wind Capital, a San Francisco, CA-based lower middle market private equity firm investing primarily in the technology and technology-enabled service industries.
About Churchill Asset Management LLC
Churchill, an investment-specialist affiliate of Nuveen (the asset manager of TIAA), provides customized financing solutions to middle market private equity firms and their portfolio companies across the capital structure. With $24 billion of committed capital, Churchill provides first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments and private equity fund commitments. Churchill has a long history of disciplined investing across multiple economic cycles and our unique origination strategy, best in class execution and investment are driven by more than 80 professionals in New York, Charlotte and Chicago. More information can be found at www.churchillam.com.
About True Wind Capital
True Wind Capital is a San Francisco-based private equity firm focused on investing in leading technology companies with a broad mandate including software, data analytics, tech-enabled services, internet, financial technology, and hardware. True Wind Capital is a value-added partner, providing support and expertise that is rooted in its team’s 85+ years of collective investing experience. More information can be found at www.truewindcapital.com.
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This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Financial professionals should independently evaluate the risks associated with products or services and exercise independent judgment with respect to their clients.
Churchill Asset Management is a registered investment advisor and majority-owned, indirect subsidiary of Teachers Insurance and Annuity Association of America. Certain Nuveen products are advised by Nuveen Alternatives Advisers LLC, a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, Member FINRA and SIPC.
Investments in middle market loans are subject to certain risks. Please consider all risks carefully prior to investing in any particular strategy. These investments are subject to credit risk and potentially limited liquidity, as well as interest rate risk, currency risk, prepayment and extension risk, and inflation risk.
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