Churchill and Arcmont: Pioneering a New Era in Global Asset Management

In the fast-evolving world of asset management, two giants, Churchill and Arcmont, have come together in a strategic alliance that is setting the stage for unprecedented expansion and innovation. Under the guiding vision of Ken Kencel and Anthony Fobel, these firms are not merely partners; they are pioneers forging a path to global dominance. As stated in Alternative Credit Investor, this collaboration is not just reshaping their futures but also challenging industry norms.

The Genesis of a Strategic Partnership

It all began in 2019 when Kencel and Fobel met at an industry conference. Their discussions, initially scheduled for a brief half-an-hour, lasted more than two hours—a clear indication that a deeper connection was forming. By 2022, a significant deal was sealed.

Kencel reflected on the difficulty of entering the European market alone and how Nuveen’s acquisition of Arcmont became a game-changer. This partnership wasn’t founded on convenience but rather on a shared vision and similar investment philosophies.

Record-breaking Achievements

Since the \(1bn acquisition of Arcmont Asset Management by Nuveen, combined with Churchill Asset Management, the results have been spectacular. In 2024 alone, Churchill has closed over \)13bn in transactions, while Arcmont has committed to €6bn in deals. Together, under Nuveen Private Capital, they now manage nearly $80bn in assets.

What propels them forward is a relentless focus on the “core mid-market,” while leveraging each other’s strengths to cement their position as a global force.

Innovative Approaches on the Horizon

This alliance isn’t resting on its laurels; it’s venturing into new territories. They are launching a NAV lending strategy—an initiative that blends Arcmont’s European private equity relationships with Churchill’s formidable presence in the US. This strategy exemplifies their global product vision.

Furthermore, Kencel and Fobel are exploring Churchill’s asset-based lending and Arcmont’s capital solutions capabilities. The goal is a synergy where innovation meets disciplined investing.

Cross-continental Strategies and Synergies

One of the most exciting aspects of this partnership is the potential for cross-selling and referral synergies. Arcmont’s successful European strategies are poised to make their US debut, while Churchill’s secondaries business might soon thrive in Europe.

These strategies represent a holistic fusion, offering investors a unique array of opportunities.

The Future with Banks?

As partnership talks abound in the industry, notably with banks, Kencel and Fobel appear cautious. Their mantra is mutual benefit. While open to future collaborations, they need assurance that any such alliance aligns with their investors’ interests.

The Churchill and Arcmont partnership exemplifies a contemporary model of success in the financial world—a blueprint for firms seeking innovation, collaboration, and sustainable growth. The industry watches with anticipation as they continue to redefine asset management.