K&L Gates Advises Churchill Asset Management on Pair of Private Equity Investment Funds Totaling U.S.$1.5 Billion
Global law firm K&L Gates LLP has advised Churchill Asset Management LLC on the closing of two new funds – Churchill Secondaries Partners, L.P. and Churchill Co-Investment Partners, L.P. – totaling approximately U.S.$1.5 billion of committed capital. Both funds were established in partnership with Ardian, a world-leading private investment house, as part of a strategic transaction that expanded institutional investor access to Churchill’s private equity platform.
The Secondary Fund is comprised of a diversified portfolio of more than 35 U.S. middle market private equity funds. Additionally, new primary capital was raised for a Co-Investment Fund which will support the growth of Churchill’s existing co-investment platform, already one of the largest programs dedicated to the U.S. middle market.
Churchill Asset Management is an affiliate of Nuveen, an asset management subsidiary of the Teachers Insurance and Annuity Association of America (TIAA).
The K&L Gates team that advised Churchill was led by investment management partner Sasha Burstein and included partner Adam Tejeda along with associates Kat Miller, Jason Kirk, Jay Buchman, and Emilee Siegl.
In 2020, a K&L Gates team led by Burstein advised Churchill on the fundraising for a U.S.$2 billion fund that provided traditional senior and unitranche loans to middle-market, private equity-backed businesses in the United States.
K&L Gates is a fully integrated global law firm with lawyers located across five continents. The firm represents leading multinational corporations, growth and middle-market companies, capital markets participants and entrepreneurs in every major industry group as well as public sector entities, educational institutions, philanthropic organizations and individuals.