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US Leveraged Loans Return 2.46% to Investors YTD
The Bloomberg US Leveraged Loan Index (Ticker: LOAN) returned 0.79% in July and has gained an additional 0.35% through August…
BDC redemption requests remain elevated but show some signs of stabilization*
Looking at the 12 largest BDCs that offer investors the ability to redeem shares on a quarterly basis, redemption requests…
Lack of new issues clouds CLO market
It’s been boom time in the leveraged loan market but now that market has eased off, what are the implications…
Private credit - Signals, concerns, and manager selection
A conversation with Sonali Basak, Chief Investment Strategist at iCapital.
About us
About Churchill
Churchill, an investment-specialist affiliate of Nuveen (the asset manager of TIAA), provides customized financing solutions to U.S. middle market private equity firms and their portfolio companies across the capital structure. With $66 billion of committed capital, the firm provides first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments, secondary solutions and private equity fund commitments.
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Software, consumer-related direct lending deals fell in H1'26
The software and technology sector, the second-most-active sector in 2025 at 17% of total deal activity, slid to fifth place in the first half of 2026.
Unconquered Territory
With most of the map still unexplored, there’s room for a sequel.
Multiples on PE buyouts
Median net debt/EBITDA across the market stood at 4.7x in 2025, and although it bottomed near 4x in 2023 before recovering, it remains below the 5.2x reached in 2021…

Business of Private Credit: Coming Home
Much attention has been paid to the suitability of Matt Damon in the lead role as the wily Odysseus in this summer’s Christopher Nolan blockbuster.