Carlyle Group acquired debt capital provider Churchill Financial LLC from Olympus Partners, expanding its lending capabilities in the middle market, confirmed Randall Whitestone, Carlyle spokesman.
Terms of the transaction were not disclosed.
Churchill's 13-member team will join Carlyle. They are led by Ken Kencel, who was named managing director of Carlyle.
Churchill originates, underwrites, documents and monitor debt investments in middle market companies. The team will continue to manage $1.25 billion in collateralized loan obligations on senior loans to middle market companies but Churchill Financial Group, an Olympus Partners portfolio company, will continue to own the equity of the CLO.