Churchill Asset Management hires head of product development and capital raising

David Heilbrunn has joined Churchill Asset Management as senior managing director and head of product development and capital raising, spokeswoman Sarah Pritchard said.

The position is new. Mr. Heilbrunn will be responsible for all strategy development and equity and debt capital raising, including managing the firm's financing activities and collateralized loan obligation business. He will work closely with and support the broader business development teams at parent company TIAA Global Asset Management in coordinating the firm's overall structuring and capital-raising efforts.

He will report to Ken Kencel, president and CEO of Churchill.

Mr. Heilbrunn was a managing director with Fifth Street Asset Management. Fifth Street spokesman Andrew Squire declined to comment on a replacement.

Churchill has about $2.2 billion of committed capital under management.