LGPS Central announces $225 million commitment to loan fund

LGPS Central has announced its sixth investment from its Credit Partnership II Fund, a $225 million commitment to Churchill Middle Market Senior Loan Fund, a compartment of Churchill Middle Market Senior Loan Fund, at first close in June.

The fund, managed by Churchill Asset Management, is an unlevered fund and a continuation of Churchill’s established middle market lending strategy.

It focuses on direct lending in the core US 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.

Risk management is evident with thorough due diligence prior to investment, and proactive account management throughout, all supported by a Three Lines of Defence framework.

Churchill also integrates ESG considerations into its underwriting and portfolio management processes.

Mike Gillespie, investment director, private credit at LGPS Central, said: “Our selection of the Churchill fund 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.”