Ropes & Gray advised the management team of Churchill Asset Management in Nuveen’s acquisition of Arcmont Asset Management, a European private debt investment manager with $21 billion in committed capital. The combined capabilities of Arcmont and Churchill will create one of the world’s largest private debt managers, with more than $60 billion in combined committed capital, bringing Nuveen’s firmwide alternative credit assets under management to $178 billion.
Churchill Asset Management is the direct lending unit of Nuveen, the investment manager of TIAA. The announcement was made public on Oct. 27 in a press release.
The Ropes & Gray team that advised the Churchill management team was led by private equity partner Daniel Evans and included asset management associate Casey Burns White, asset management partner Katie Waite and tax partner Jay Milkes.
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