Churchhill Asset Management co-invests with Cornell in Knowlton Development

The firm co-invested alongside Cornell Capital, which invested in the company earlier. 

Churchhill Asset Management invested in Knowlton Development Corp, a custom formulator and manufacturer for beauty, personal care and select home care brands. The firm co-invested alongside Cornell Capital, which invested in the company earlier.

Press Release

Churchill Asset Management (the “Firm”) today announced a direct investment in Knowlton Development Corporation (“KDC” or the “Company”). KDC is a custom formulator and manufacturer for the world’s leading beauty, personal care and select home care brands.

Headquartered in Quebec, the Company provides value-add services to customers from concept to completion, including product innovation, custom formulation, filling & assembly, custom packaging design and manufacturing.

“Knowlton Development Corporation’s effective capability to adapt to ever-changing consumer needs has led to several attractive organic growth opportunities,” said Jason Strife, Senior Managing Director and Head of Private Equity & Junior Capital at Churchill.

“Under Cornell Capital Partners’ ownership, KDC has completed numerous accretive acquisitions enhancing its diversity and capabilities, and we look forward to supporting their next phase of growth and innovation.”

About Churchill Asset Management LLC

Churchill, an investment-specialist affiliate of Nuveen (the asset manager of TIAA), provides customized financing solutions to middle market private equity firms and their portfolio companies across the capital structure. With $24 billion of committed capital, Churchill provides first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments and private equity fund commitments. Churchill has a long history of disciplined investing across multiple economic cycles and our unique origination strategy, best in class execution and investment are driven by more than 80 professionals in New York, Charlotte and Chicago. More information can be found at

About Cornell Capital Partners

Cornell Capital LLC is a U.S.-based private investment firm with $3.0 billion of AUM and offices in New York and Hong Kong. Partnering with strong, entrepreneurial management teams, the firm takes a value-oriented approach to investing across the consumer, financial and industrial sectors. Founder and Senior Partner Henry Cornell, who served as the Vice Chairman of Goldman Sachs’ Merchant Banking Division prior to founding Cornell Capital in 2013, leads a highly seasoned senior leadership team with decades of shared investing experience. For more information, visit