Nuveen Private Capital, comprised of two leading U.S. and European asset managers Churchill Asset Management (“Churchill”) and Arcmont Asset Management (“Arcmont”), today announced it has surpassed $100 billion in committed capital,¹ marking a significant milestone in the platform’s growth.

Together, Churchill and Arcmont form a powerful private capital platform and one of the largest private credit managers in the world. Achieved three years after Nuveen Private Capital’s creation in March 2023, the milestone reflects strong investor demand and the continued strength of the firm's transatlantic platform, which has grown committed capital by more than 50% since its inception. On a combined basis, Churchill's and Arcmont's fundraising over the past five years – as reflected in a recent PEI ranking – would place Nuveen Private Capital among the top private credit fundraisers globally.²

This progress builds on sustained strategic momentum. In September 2025, Nuveen Private Capital announced a minority investment from Hunter Point Capital and Temasek, alongside long-term capital commitments from Temasek. The transaction highlighted the platform’s broad capabilities, global reach and strong growth potential.

Today, Nuveen Private Capital comprises a team of 400 professionals across 15 global offices.³ During the past year, the platform has invested $27 billion in over 400 middle market investments in support of many of the leading U.S. and European sponsors and currently serves a diverse mix of more than 6,000 investors through its range of complementary strategies.

“By preserving the established expertise that made Churchill and Arcmont leaders in their respective markets, and by investing in the acceleration of their combined growth, we've built a truly differentiated platform,” said Bill Huffman, Nuveen CEO and Chairman of Nuveen Private Capital. “This milestone underscores our commitment to keeping clients at the forefront of everything we do while consistently building a stronger global platform rooted in performance and innovation.”

Nuveen Private Capital benefits from the scale and resources of Nuveen, the investment management arm of TIAA, which oversees $2.6 trillion in assets globally.⁴

Ken Kencel and Anthony Fobel, Co-CEOs of Nuveen Private Capital jointly said: “Reaching this milestone reflects the trust of our investors, the strength of our transatlantic platform and the dedication of our teams to delivering excellence and long-term value globally. At $100 billion of committed capital, Nuveen Private Capital is firmly established as a leading global private capital platform and well positioned to build on this momentum – expanding our capabilities and continuing to extend our leadership in private credit and equity solutions.”

About Nuveen Private Capital
Backed by TIAA, Nuveen Private Capital (NPC) is a $100 billion private capital platform and one of the world’s largest private credit managers. It brings together the complementary strengths of Churchill Asset Management and Arcmont Asset Management – two leading platforms in the U.S. and Europe – to offer investors access to high quality, diversified opportunities across the capital structure, focused on private equity-backed middle market companies. NPC provides a comprehensive suite of solutions, including senior lending, junior capital, capital solutions, impact lending, NAV financing, equity co-investments, secondaries and private equity fund commitments. With 400 professionals across 15 global offices, the platform combines deep investment expertise, disciplined underwriting, and a strong focus on partnership and risk management to deliver differentiated access to private markets at scale.

About Churchill Asset Management:
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 over $66 billion of committed capital, we provide first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments, secondary solutions and private equity fund commitments. Churchill has a long history of disciplined investing across multiple economic cycles and our unique origination strategy and investment approach are driven by over 225 professionals in New York, Charlotte, Chicago, Los Angeles and Palm Beach. To learn more, visit www.churchillam.com.

About Arcmont Asset Management
Arcmont Asset Management, an investment-affiliate of Nuveen (the asset manager of TIAA) is a private credit asset management firm providing flexible capital solutions to a wide range of businesses in Europe. Established in 2011, Arcmont has raised approximately €45 ($52) billion in assets from institutional investors globally and has committed over €44 ($50) billion across more than 590 transactions from its launch. With a highly experienced investment team, an established investment track record and deep technical expertise, Arcmont offers creative and flexible capital solutions to European businesses, with the reliability of a partner that values long-term relationships. Headquartered in London, Arcmont’s presence spans Amsterdam, Frankfurt, Madrid, Milan, Munich, Paris, Stockholm and New York. It maintains a local origination network and builds and preserves close relationships with sponsors, borrowers and local intermediaries. To learn more about Arcmont, visit www.arcmont.com.

All numbers are as of June 30, 2026 unless otherwise specified.
¹ Committed Capital refers to capital committed to client accounts in the form of equity capital commitments from investors, including co-investment commitments, as well as committed, actual or expected financing from leverage providers. For purposes of this calculation, both drawn and undrawn equity and financing commitments are included. Committed capital figures may be adjusted over the course of a financial period, based on accounts transitioning the calculation methodology from capital commitment to invested capital. Reflects total capital committed to Nuveen Private Capital as of June 30, 2026. Estimated and unaudited.
² PEI Private Credit 200 Ranking 2026. Based on the amount of private debt investment capital raised by firms between 1 January 2021 and 31 December 2025. Private debt fundraise submissions were made separately by Churchill and Arcmont (Arcmont is listed as #17 and Churchill is listed as #18 on the list). Based on an internal analysis, the aggregate total fundraise would place Nuveen Private Capital in the top ten. No compensation was provided by Churchill to PEI in connection with the receipt of the above-referenced ranking.
³ As of September 30, 2026.
⁴ On 1 October, 2026, Nuveen, LLC completed its acquisition of Schroders plc. AUM shown reflects the combined assets of both entities as of 30 June 2026.

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