Churchill Closes Oversubscribed $1.5B⁢ co-Investment Fund II

⁤ Updated⁤ June⁣ 17, 2025
​

Churchill‌ Asset Management, based in New York, announced the final closing of its Churchill co-Investment Fund II, hitting⁣ its $1.5 billion hard ⁣cap. The fund ⁣was oversubscribed, ​reflecting ​strong investor interest ​in equity‍ co-investments alongside private equity sponsors focused on U.S.middle ‍market companies. This successful fundraise highlights the increasing role of private capital in today’s investment landscape.

The new fund is‌ approximately ⁤3.5 times larger than Churchill’s initial co-investment fund, which closed in 2021 at $440 million. Fund II​ also saw a significant shift in investor makeup, with about 20%⁢ of⁢ commitments originating from Churchill’s wealth platform. This indicates a ⁤growing desire among high-net-worth individuals for ‍access to private​ market opportunities and the significant⁣ role alternative investments ⁣play in their portfolios.

Moshe Bajnon, global head of‍ Private Wealth and ⁣co-head of Investor Solutions ⁢Group at Churchill, ‌said individual investors are increasingly seeking exposure to ​alternative investment strategies. He added that‌ the fund’s ‌success in⁢ the wealth⁢ channel highlights the strong demand from high-net-worth investors for ⁤unique private capital opportunities. ​This underscores the evolving role of wealth management firms in providing access⁣ to these⁢ investments.

Along with private wealth channels, Churchill Co-Investment fund II attracted commitments from a diverse group of institutional investors.These ⁣included sovereign wealth funds, public ‍and corporate pensions, insurance companies,‌ fund of funds, foundations, asset ⁣managers, and ‌family offices.

In March, Nuveen, a private capital investment specialist, announced the closing of its⁢ third​ collateralized fund obligation (CFO), NPC SIP 2024-1, also known as the “Long Duration Bond” (LDB), at $750​ million.

Since⁤ its ​founding,Churchill has invested over ‍$11 billion in more than 280 ⁣private equity funds,committing over $1 billion annually to U.S.‌ middle market ​private equity.

What’s⁤ next

Churchill plans to continue deploying capital into U.S. middle ⁢market companies, leveraging‍ its ​expertise and relationships to generate strong ⁤returns for its investors.