Churchill’s Private Equity & Junior Capital team completes co-investment alongside Cornell Capital Partners in Knowlton Development Corporation

Charlotte, NC, September 17, 2020 – Churchill Asset Management (the “Firm”) today announced a direct investment in Knowlton Development Corporation (“KDC” or the “Company”). KDC is a custom formulator and manufacturer for the world’s leading beauty, personal care and select home care brands. Headquartered in Quebec, the Company provides value-add services to customers from concept to completion, including product innovation, custom formulation, filling & assembly, custom packaging design and manufacturing.

“Knowlton Development Corporation’s effective capability to adapt to ever-changing consumer needs has led to several attractive organic growth opportunities,” said Jason Strife, Senior Managing Director and Head of Private Equity & Junior Capital at Churchill. “Under Cornell Capital Partners’ ownership, KDC has completed numerous accretive acquisitions enhancing its diversity and capabilities, and we look forward to supporting their next phase of growth and innovation.”

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 Cornell Capital Partners

Cornell Capital LLC is a U.S.-based private investment firm with $3.0 billion of AUM and offices in New York and Hong Kong. Partnering with strong, entrepreneurial management teams, the firm takes a value-oriented approach to investing across the consumer, financial and industrial sectors. Founder and Senior Partner Henry Cornell, who served as the Vice Chairman of Goldman Sachs’ Merchant Banking Division prior to founding Cornell Capital in 2013, leads a highly seasoned senior leadership team with decades of shared investing experience. For more information, visit www.cornellcapllc.com.

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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.

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The material is for informational purposes only and should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. Certain products and services may not be available to all entities or persons. Past performance does not guarantee future results. Please note investments in middle market loans are subject to various risk factors, including credit risk, liquidity risk and interest rate risk. Churchill Asset Management LLC is a majority-owned subsidiary and member of the TIAA group of companies.