Global law firm K&L Gates LLP has advised Churchill Asset Management LLC on the launch of Churchill Co-Investment Fund II with US$1.5 billion in limited partner commitments.
The fund, which seeks to generate superior risk-adjusted returns through equity co-investments alongside private equity sponsors in US middle market businesses, reached its hard cap and is nearly 3.5x the size of its predecessor fund.
The fund attracted equity commitments from a global and diversified investor base, including sovereign wealth funds, public and corporate pensions, insurance companies, fund of funds, foundations, asset managers, family offices, and high-net-worth individuals.
The K&L Gates team that advised Churchill was led by Sasha Burstein with support from Adam Tejeda, Mathieu Volckrick, Jason Kirk, Dr. Jan Boeing, Jay Buchman, Veronica Fulton, Adam Paschalidis, and Jamie Robinson.
Churchill Asset Management is an investment-specialist affiliate of Nuveen, the asset manager of Teachers Insurance and Annuity Association of America (TIAA). With $55 billion of committed capital, Churchill provides customized various financing solutions to middle-market private equity firms and their portfolio companies across the capital structure, as well as equity co-investments, secondary solutions and private equity fund commitments.