Churchill Investment Management, LLC

Churchill Investment Management LLC, established in 2018, is a private real estate investment firm focusing on real estate debt, preferred equity, and distressed opportunities. The firm, indirectly owned by Churchill Finance LLC, specializes in residential real estate investments, offering services through privately offered investment funds and separately managed accounts. Churchill manages approximately $10 billion in regulatory assets under management. Clients typically pay an annual management fee of up to 2% of invested capital and 1% of committed capital, with additional performance-based compensation based on realized gains. The firm emphasizes risk-adjusted returns by investing in real estate-related securities and credit transactions. Churchill's investment strategy involves thorough due diligence, including underwriting, market research, and engagement with local operators. The firm's Code of Ethics ensures fiduciary duties, ethical conduct, and compliance with securities laws. Churchill reviews client portfolios quarterly and provides audited financial statements annually. The firm has full discretionary authority over client assets, subject to limitations outlined in governing documents. While Churchill does not engage in soft dollar arrangements or directed brokerage, it may engage in principal transactions with client approval. The firm's custody practices comply with regulatory requirements, and it votes proxies in clients' best interests when applicable. Churchill does not foresee financial conditions impairing its commitments to clients and has not faced bankruptcy in the past decade.