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K&L Gates Advises Churchill Asset Management on US$425 Million Structured Liquidity Solution Transaction

20 May 2024

Global law firm K&L Gates LLP has advised Churchill Asset Management LLC on the closing of a $425 million structured liquidity transaction. The deal served as an alternative solution to a traditional secondary sale, delivering liquidity to Churchill's investors on a curated portfolio of buyout fund interests. The transaction was financed by Dawson Partners, a global alternative asset manager focused on providing innovative structured solutions to the private markets.

The transaction delivered material liquidity for Churchill's investors and secured strategic unfunded capital to support continued growth of Churchill’s leading middle-market GP-led secondaries and equity co-investment platforms.

Churchill Asset Management is an affiliate of Nuveen, an asset management subsidiary of the Teachers Insurance and Annuity Association of America (TIAA). It provides customized financing solutions to middle market private equity firms and their portfolio companies across the capital structure.

The K&L Gates team that advised Churchill was led by investment management partner Sasha Burstein and included partners Adam Tejeda, Jason Kirk and Jay Buchman, along with associates Veronica Fulton and France Johnson.

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.

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