Churchill Capital expects to make the first close on its equity and mezzanine fund, Churchill Capital Partners VI, in January at $250 million, according to a person familiar with the situation. The Minneapolis-based fund had targeted the fund at $650 million.
Churchill Capital manages a family of private equity and subordinated debt investment funds. In its history, it has committed $1.2 billion of capital that has been raised through its seven partnerships. Four of its funds have provided subordinated debt, while the other three have provided equity.
Limited partners in previous Churchill Capital funds include Minnesota Mutual Life Insurance Co., Saint Olaf College, University of Minnesota, University of Virginia and Verizon Investment Management, according to Thomson Financial (publisher of PE Week).
Companies in Churchill’s subordinated debt portfolio include Consolidated Fire Protection, LAI International, Personal Optics, Edwin Watts Golf Shops and Royal Oak Industries. —Erick Bergquist