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Churchill Forges Strategic Relationship with Hunter Point Capital to Pursue GP Stakes Investing

June 02, 2021, 07:30 AM
Filed Under: Private Equity News

Churchill Asset Management has forged a strategic alliance with Hunter Point Capital, an independent investment firm focused on taking minority stakes in General Partners (GPs) targeting middle market private equity, credit, real estate and infrastructure.
GP stakes investing is a logical extension of Churchill’s Private Equity and Junior Capital (PEJC) platform. Today, that platform includes three strategies all focused on financing private equity firms (either the firm itself through an LP commitment, or a firm’s portfolio companies with junior debt capital or equity co-investment capital). GP stakes investing is another form of private equity finance.
Key Highlights:

  • Churchill has made a $250 million commitment on behalf of the TIAA General Account, positioning the firm as an anchor investor and key strategic partner of Hunter Point Capital.
  • Hunter Point Capital was founded in 2020 by industry leader Bennett Goodman, previously co-founder of GSO Capital Partners (Blackstone’s direct lending platform, which now manages more than $125 billion in assets) and Avi Kalichstein, formerly Managing Principal at Easterly LLC and Partner at J.C. Flowers. Former Carlyle executive Mike Arpey serves as President. 
  • The relationship with Hunter Point Capital will provide Churchill’s PEJC team exposure to the strategic, high-growth and highly profitable business of GP stakes investing, which is expected to provide exposure to an attractive risk-adjusted asset class to the TIAA General Account. 
  • The significant overlap in Churchill and Hunter Point Capital’s relationship networks within middle market private equity will enhance sourcing capabilities and the investment pipeline for both firms. The relationship also brings additional network benefits to Churchill. 
  • The broader Nuveen investment platform will also benefit from Hunter Point Capital’s global focus, as the portfolio will include GP stakes in European and Asian asset managers who focus on real estate, infrastructure and credit.


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