London, June 29, 2018 – “Churchill’s origination strategy is centred on the direct coverage of the US middle market private equity community,” says Ken Kencel, president and CEO of Churchill Asset Management LLC. “Our strategy is augmented by direct coverage of our key co-lenders. This dualsourcing approach ensures that Churchill can select its investments from the widest array of potential opportunities.”…
Munich, June 22, 2018 – The US banks that withdrew from the lower mid-market in the wake of the financial crisis are unlikely to make a comeback, according industry experts speaking at PDI Germany forum in Munich this week…
Hong Kong, June 13, 2018 – …middle-market loans are often senior and secured, a world apart from covenant-light corporate bonds. In addition, because of their smaller size, such companies can only borrow only up to five times their underlying cash flow, versus six times or more for larger firms, says Ken Kencel, president and CEO of Churchill Asset Management LLC…
New York, May 14, 2018 – Following on the heels of a record year of capital raising, debt financing provider Churchill Asset Management recently closed a $300 million collateralized loan obligation fund, Churchill Middle Market CLO IV. Churchill is part of Nuveen, the asset management division of TIAA. Overall, Churchill manages more than $4.4 billion in committed capital. We asked CEO Ken Kencel about his firm’s investment approach and thoughts on middle-market lending…
London, May 1, 2018 – Three years after joining TIAA-owned Nuveen, Churchill Asset Management’s president and CEO Ken Kencel and head of origination and capital markets Randy Schwimmer continue to make their mark by drawing on their deep industry roots and extensive network of relationships…
New York, May 2, 2018 — Churchill Asset Management LLC (“Churchill”), a leading provider of senior and unitranche debt financing to middle market companies, closed a $300 million leveraged loan fund, Churchill Middle Market CLO IV Ltd. (the “Fund”). The seven-year Fund is comprised of: a $200 million AA DBRS-rated senior revolving credit facility; $55 million of “A”-, “BBB”- and “BB”-rated mezzanine notes; and, $45 million of un-rated Subordinated notes. Natixis Securities Americas LLC (“Natixis”) serves as the Fund’s Administrative Agent and Arranger of the transaction.
Lender
March 2018
NEW YORK, January 3, 2018 – And as the direct lending market matures, established managers that have grown in size may get an edge in future fundraising, says Ken Kencel, president and CEO at TIAA’s Churchill Asset Management.
“The window for newer managers to raise money is going to continue to narrow,” Kencel says. “Consultants will increasingly allocate to managers with scale.”…
