Churchill Asset Management LLC, an investment affiliate of Nuveen, has closed a $400 million middle-market collateralized loan obligation, Churchill MMSLF CLO III.

The CLO was structured in connection with Churchill’s co-investment partnership with Mubadala Investment Co., which exceeds $1 billion in size – and has helped to diversify the financing structure for the partnership. The transaction represents the third CLO that Churchill priced in 2023 and the eighth outstanding CLO under management, bringing CLO assets under management to approximately $3.5 billion.

Wells Fargo served as the administrative agent and arranger of the transaction.