AustralianSuper has upped its partnership with Nuveen affiliate Churchill Asset Management to US$1.5 billion ($2.3 billion).

The investment program targets senior and unitranche loans to private equity-backed US middle market companies.

The country’s biggest fund has over US$4.5 billion invested in private credit globally, with the ambition to triple the exposure in coming years through a mix of direct lending by its in-house team and partnerships with specialist managers.

Churchill first partnered with Nuveen as the firm’s exclusive middle market senior and unitranche debt financing group in 2015.

In 2022, Nuveen expanded its private debt platform with the acquisition of Arcmont Asset Management, covering the European market.

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