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Churchill Asset Management Achieves Record Capital Raising and Investment Activity in 2020

January 14, 2021, 05:15 AM
Filed Under: Private Equity News

Churchill Asset Management achieved record levels for the firm in both capital raising and investment activity in 2020.

Churchill raised over $6.4 billion of new committed capital in 2020, more than doubling 2019 fundraising figures, with an additional $2.2 billion expected to close in the first quarter of 2021. With ample dry powder and strong portfolio health, the Firm’s investment teams closed and/or committed more than $6 billion in new investments in 2020, despite a notable slow down in second quarter deal flow due to the COVID-19 pandemic. Consistent with its time-tested investment strategy, Churchill continues to remain highly selective and diversified in its underwriting approach, focused solely on private equity-backed businesses that maintain a defensible market position.

“Churchill’s established 15-year track record of successfully investing across multiple economic cycles has proven incredibly valuable and resilient to our private equity clients and institutional investors alike, especially during uncertain times like these,” said Ken Kencel, President and Chief Executive Officer of Churchill. “Our Firm’s record fundraising and investment performance amidst the unprecedented challenges of 2020 has been a true testament to the trust our clients place in us. We are extremely grateful for their confidence, as we approach the new year with optimism and hopefully a sense of normalcy.”

2020 Highlights and Achievements

  • Raised over $6.4 billion of new committed capital from a diverse group of new and existing institutional investors across a variety of investment vehicles;
  • Closed and/or committed over $6 billion across 229 distinct transactions; Churchill served as an agent on 63% of direct lending investments, nearly all of which were in a lead or co-lead capacity;
  • Named “Private Debt – Mid-Market Lending Fund of the Year” by AltCredit Intelligence (for Churchill Middle Market Senior Loan Fund, LP) and both “Americas Lender of the Year” and “USA Lender of the Year” by Global M&A network for the second consecutive year; and
  • Added 22 new professionals across its investment, investor relations, compliance and operations/finance teams to address the significant investment activity and demand from investors and private equity sponsors.

Churchill offers broad experience in all aspects of the middle market financing business, including origination, structuring, underwriting, syndication, and deal monitoring and oversight. The firm is led by a senior management team with an average of more than 25 years of industry experience and has invested $36 billion in private capital across more than 960 transactions.

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