Churchill Asset Management (Churchill) has closed two new funds totalling approximately $1.5 billion of committed capital. Churchill Secondary Partners (the Secondary Fund) and Churchill Co-Investment Partners (the Co-Investment Fund) were established in partnership with Ardian, a private investment house, as part of a strategic transaction that expands institutional investor access to Churchill’s private equity platform.
The Secondary Fund is comprised of a diversified portfolio of more than 35 US middle-market private equity funds. Additionally, new primary capital was raised for a Co-Investment Fund which will support the growth of Churchill’s existing co-investment platform, already one of the largest programs dedicated to the US middle market.
“The strategic nature of the Secondary Fund and Co-Investment Fund along with Churchill’s market-leading private equity platform attracted a select group of prominent global institutional investors alongside Ardian. We look forward to long-lasting partnerships with these investors,” says Chris Freeze, Head of Investor Relations at Churchill.
“This transaction highlights Churchill’s reputation as a leading investor and co-investment partner. We can offer investors differentiated investment opportunities in the US middle market through bespoke products,” says Jason Strife, Head of Private Equity & Junior Capital at Churchill. “The Co-Investment Fund provides us additional capacity to deliver on our growing investment pipeline.”
