FUNDRAISING NEWS | October 29, 2024
Tags: Private Credit, New Fund Launches
Two funds managed by Nuveen’s investment affiliate Churchill will merge into a single fund in a deal expected to expand and streamline the combined fund’s portfolio and offer a redemption opportunity for holders of the merged fund.
Nuveen Churchill Private Capital Income Fund (PCAP) and Nuveen Churchill Private Credit Fund (NCPCF) have entered into a purchase and sale agreement, according to an October 29 press release, that would eventually dissolve NCPCF investment operations as PCAP takes over the credit fund’s assets and liabilities. The move would also integrate the fund’s portfolios, with PCAP already holding portfolio assets in approximately 60% of the companies that NCPCF has active investments in.
The transaction is expected to close in the fourth quarter. Following NCPCF’s liquidation, shareholders will be able to receive cash consideration in one lump sum for their investments.
View the press release here.
Written By: Dakota
Dakota is a group of extraordinary people who try and do extraordinary things every day while playing at the highest level of professionalism in their domain.
October 22, 2024
October 15, 2024
925 West Lancaster Ave
Suite 220
Bryn Mawr, PA 19010
Tel: (610) 642-1481
© Dakota 2024 | Terms of Service | Privacy Policy | California Privacy Policy