2023 Outlook: The Unique Opportunity for U.S. Middle Market Senior Loans

Presented by

Randy Schwimmer & Joe Lee, Churchill Asset Management (an investment specialist of Nuveen) | Brendan Maton (moderator)

About this talk

Private credit funds invested during or in the immediate aftermath of recessions have performed well on a historical basis. Join Randy Schwimmer, Co-Head of Senior Lending at Nuveen’s private capital investment specialist, Churchill Asset Management and Joe Lee, Principal in the Underwriting & Portfolio Management group for their outlook on middle market senior loans and the unique opportunity ahead. Topics will include: • How are higher rates impacting middle market lenders and borrowers? • Will there be a shake-out of direct lenders given recession and rate worries? • How are higher asset yields and the denominator effect affecting private credit portfolio allocations? • How should private credit investors balance perceived higher risk with higher returns in a potentially higher default environment? ---- About Nuveen: Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.1 trillion* in assets under management as of 30 Sep 2022 and operations in 27 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. Churchill Asset Management is a majority-owned affiliate of Nuveen with $46 billion in committed capital, and one of the largest, most experienced private capital managers providing financing solutions to middle market private equity firms and their portfolio companies across the capital structure. For more information, please visit www.nuveen.com * As of 30 Sep 2022. Nuveen assets under management (AUM) is inclusive of underlying investment specialists. Totals may not equal 100% due to rounding.
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