Churchill AM completes $750m mid-market CLO

Churchill Asset Management has completed a $750m (£592m) middle market collateralised loan obligation (CLO) offering.

The Churchill Middle Market CLO V was oversubscribed and has a four-year reinvestment period. It is the first CLO that Churchill has priced in 2025, and the fifteenth CLO issued by the firm.

Read more: Churchill makes investor relations hire to boost retail and wealth offering

It has a collateral pool comprised of a diversified portfolio of senior secured loans, over 85 per cent of which have been identified. The capital structure includes six classes of notes rated AAA through BB- by Standard & Poor’s, with class A-1 rated by Fitch Ratings.

“We are pleased with the outstanding support from new and existing investors for CLO V,” said Kelli Marti, Churchill’s head of CLO management.

Read more: Churchill AM reports record year of investing

“The transaction was oversubscribed across all syndicated classes, demonstrating continued market confidence in our disciplined investment approach and CLO management expertise.

“Pricing was also highly competitive, with CLO V achieving the tightest pricing of any Churchill CLO historically. We look forward to building on this momentum with a robust 2025 pipeline across our CLO platform and broader private capital business.”

Churchill is the US private capital investment specialist of Nuveen. It specialises in providing customised financing solutions to US middle market private equity firms and their portfolio companies across the capital structure.

Read more: Alcentra secures $1bn+ in equity capital for CLO funds