Temasek-backed asset management platform Seviora Holdings and Churchill Asset Management, the US asset management arm of Nuveen Private Capital, said on July 13 that they had closed a US$400 million collateralized fund obligation for institutional investors.

The structure gives investors equal exposure to both firms, combining Churchill’s US junior capital and private equity secondaries strategies with Seviora’s Asian private credit and global fund-of-funds strategies.

Collateralized fund obligations packed investments in private funds into securities for investors, unlike collateralized loan obligations, which are backed by loan portfolios. Seviora said it had about US$75 billion in assets under management as of December 31, 2025.

The transaction builds on a partnership announced in September 2025, when Temasek took a minority stake in Nuveen Private Capital and committed long-term capital to the firm’s new and existing strategies. PJT Partners served as the sole structuring advisor and placement agent.

🔗 Source: Seviora