Seviora Holdings, the asset management arm of Singapore state investor Temasek, and Churchill Asset Management, the US asset manager of Nuveen Private Capital, have closed a $400 million collateralised fund obligation (CLO).
The vehicle will be invested equally between Seviora’s Asian private credit and global fund-of-funds strategies, and Churchill’s US junior capital and private equity secondaries.
The rated structure was oversubscribed, the two parties said in a statement. That reflects broad institutional investor demand, particularly from US insurance companies, seeking highly-rated fixed income investments.
It follows a strategic partnership agreement between Temasek and Nuveen Private Capital, announced in September 2025. As part of that, Temasek made a minority investment in Nuveen Private Capital, and committed long-term capital to its existing and new strategies.
One of the largest private debt managers globally, Nuveen Private Capital is a $99 billion private capital platform comprising Churchill Asset Management and Arcmont Asset Management. It is part of Nuveen, a $1.4 trillion global asset manager owned by TIAA.
Seviora Group, wholly-owned by Temasek, has about $75 billion in assets under management across strategies in both public and private markets.
