Fund overview
The Nuveen Churchill Private Credit Income Fund’s investment objective, via its investment in the Nuveen Churchill Private Capital Income Fund (the “Underlying Fund”), is to seek to provide investors with risk-adjusted returns primarily through current income and, secondarily, long-term capital appreciation, by investing in a diversified portfolio of private debt and equity investments in US middle market companies owned by leading private equity firms.
The management team focuses on the traditional US middle market to seek diversification, reliability and attractive risk-adjusted returns as a complement to other private market loan segments. Middle market private capital can play an important role in portfolio construction as it helps diversify sources of yield and increase overall income and return potential. At the same time, the demand for private capital solutions in the US middle market meaningfully outpaces supply, resulting in a compelling opportunity for private capital investment.
The Underlying Fund primarily invests in middle market senior loan investments and junior capital investments, which may be originated alongside smaller related common equity positions in the same portfolio companies. The Underlying Fund’s companies typically exhibit a range of characteristics that include experienced management teams with successful track records, annual EBITDA of USD $10 million – USD $250 million, scalable revenues and operating cash flow and sustainable leading positions in their respective markets.
Key features of the Underlying Fund
- Exposure to an underlying fund that invests in US middle market to seek diversification, reliability and attractive risk-adjusted returns.
- A disciplined and rigorous investment approach with comprehensive portfolio monitoring.
- Targets income with long-term capital growth potential.
- Investment team that’s one of the most active direct lenders in the US middle market.
- Access to large, resilient and attractive addressable market.
- Diversification across the US middle market opportunities underpinned by selectivity and stringent underwriting standards.