Churchill Asset Management, the U.S. private capital investment-specialist of Nuveen, closed a $750 million middle market collateralized loan obligation (“CLO”), Churchill Middle Market CLO V LLC (“CLO V”), on February 25, 2025. This transaction represents the first CLO that Churchill priced in 2025 and the fifteenth CLO issued by Churchill.

“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,” said Kelli Marti, Churchill’s Head of CLO Management. “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.”

The 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.

Natixis Securities Americas LLC served as the Administrative Agent and Arranger for the transaction. Morgan Stanley & Co. LLC served as the Co-Placement agent.