Published: July 5, 2023
LGPS Central is pleased to announce its sixth investment from its Credit Partnership II Fund, a $225 million commitment to Churchill Middle Market Senior Loan Fund – Luxembourg SCSp, SICAV-RAIF – Fund V (“Churchill Fund V”), a compartment of Churchill Middle Market Senior Loan Fund – Luxembourg SCSp, SICAV-RAIF, at first close on 5th June 2023.
Churchill Fund V, managed by Churchill Asset Management LLC (“Churchill”), is an unlevered fund and a continuation of Churchill’s established middle market lending strategy. The fund focuses on direct lending in the core U.S. middle market to sponsor backed companies with origination supported by its relationships with private equity houses and other market players. These relationships are enhanced by Churchill’s management of limited partner investments in over 250 private equity funds, leading to differentiated deal flow.
Churchill’s commitment to risk management is evident to us throughout its investment process, with thorough due diligence prior to investment, and proactive account management throughout, all supported by a Three Lines of Defence framework. As part of its commitment to responsible investing, Churchill also integrates environmental, social, and governance (ESG) considerations into its underwriting and portfolio management processes.
Mike Gillespie, Investment Director, Private Credit at LGPS Central, said, “Our selection of Churchill Fund V as an investment opportunity is, in our opinion, based on several compelling factors. Churchill’s experienced team, scale and unique origination strategy allows it to avoid the more competitive aspects of the middle market, resulting in increased influence, lower leverage, and favourable pricing.”
LGPS Central’s commitment of $225 million to Churchill Fund V reflects confidence in Churchill’s expertise and the potential for attractive returns in the middle market. LGPS Central believes that Churchill Fund V is poised to capitalise on opportunities in North America’s middle market across various sectors.
Please note this content is for investment professionals only. This press release is being issued on LGPS Central’s own initiative and not on behalf of, or at the initiative of, Churchill Fund V’s AIFM, FundRock Management Company S.A., or its portfolio manager, Churchill. The contents of this press release are LGPS Central’s responsibility only.
