Ropes & Gray Advises Management Team of Churchill Asset Management in Launch as Majority-Owned Subsidiary of TIAA-CREF
Ropes & Gray advised the management team of Churchill Asset Management LLC, a newly-formed asset manager focused on originating, underwriting and managing senior loan investments primarily in U.S. middle-market companies, with its successful launch as a majority-owned subsidiary of TIAA-CREF. Churchill Asset Management will operate as a standalone business and plans to raise investment funds from institutional and qualified individual investors looking to invest in middle-market senior secured loans. The transaction brings together the former senior management team of Churchill Financial LLC, led by industry veteran Kenneth J. Kencel, and the team will now add to TIAA-CREF’s $851 billion asset management platform.
Ropes & Gray deployed a multi-disciplinary cross-office team led by private equity partner Daniel S. Evans (New York).