Churchill Asset Management – which is the U.S. private capital investment-specialist of Nuveen – announced the closing of a $750 million middle market collateralized loan obligation (CLO), Churchill Middle Market CLO V LLC (CLO V) on February 25, 2025. This deal represents the first CLO that Churchill priced in 2025 and the fifteenth CLO issued by Churchill.
This CLO has a four-year reinvestment period and a collateral pool comprised of a diversified portfolio of senior secured loans, over 85% of which have been identified as of the closing date. CLO V’s capital structure includes six classes of notes rated AAA through BB- by Standard & Poor’s, with class A-1 rated by Fitch Ratings.
Churchill provides customized financing solutions to U.S. middle-market private equity firms and their portfolio companies across the capital structure. And with over $52 billion of committed capital, the firm provide first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments, secondary solutions and private equity fund commitments.
Natixis Securities Americas was the administrative agent and arranger for the deal, and Morgan Stanley was the co-placement agent.
KEY QUOTES:
“We are pleased with the outstanding support from new and existing investors for CLO V. 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.”
– Kelli Marti, Churchill’s Head of CLO Management
