Churchill Financial Group, which has structured and managed six collateralized debt obligation vehicles worth over $3 billion in assets, is looking to set up a business development company.

April 24, 2011

Churchill Financial Group, which has structured and managed six collateralized debt obligation (CDO) vehicles worth over $3 billion in assets, is looking to set up a business development company (BDC), Reuters reports. The New York-based leveraged lender is looking to raise up to $150 million for the vehicle, to be called Churchill Financial BDC.

The new venture will issue stock to the public and look to invest 80% of its assets in senior secured loans, typically to sponsor-backed borrowers in the U.S. mid-market. Churchill Financial intends to use the BDC to lend $5-25 million at a time.

Click here for the story from Reuters.

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Churchill Financial Bdc Churchill Financial Group

CDO Manager Churchill To Launch BD Firm

Churchill Financial Group, which has structured and managed six collateralized debt obligation vehicles worth over $3 billion in assets, is looking to set up a business development company.

The new venture will issue stock to the public and look to invest 80% of its assets in senior secured loans, typically to sponsor-backed borrowers in the U.S. mid-market. Churchill Financial intends to use the BDC to lend $5-25 million at a time.