NEW YORK, Sept. 3, 2014 /PRNewswire/ -- CIFC Corp.
(NASDAQ: CIFC) and its subsidiaries (collectively "CIFC" or the
"Company") announced the closing of a new CIFC-managed CLO, CIFC
Funding 2014-IV, LTD., representing $626.5
million of par and $600
million of new Assets Under Management ("AUM"). The
transaction was led by Morgan Stanley and supported by over
twenty-five institutional investors, including a number of first
time investors with CIFC.
CIFC has sponsored four CLOs this year, raising $2.7 billion in new AUM. Strong investor
interest, among other factors, allowed the Company to upsize each
fund from its initial target capital raise.
The four CLOs benefited from attractive warehouse facilities
provided by the arranging banks that enabled the Company to
aggregate up to 50% of collateral pre-pricing.
About CIFC
CIFC is a fundamentals-based, relative
value credit manager with $12.6
billion of loan based AUM at June 30,
2013. Headquartered in New
York, CIFC is an SEC registered investment adviser and a
publicly traded company (NASDAQ: CIFC). We currently serve over 250
institutional investors globally. For more information, please
visit CIFC's website at www.cifc.com.
Certain statements in this press release are forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
These include statements regarding future results or expectations,
including expectations with respect to the formation and results of
the strategic relationship. Forward-looking a statements can be
identified by forward-looking language, including words such as
"believes," "anticipates," "expects," "estimates," "intends,"
"may," "plans," "projects," "will" and similar expressions, or the
negative of these words. Such forward-looking statements are based
on facts and conditions as they exist at the time such statements
are made, various operating assumptions and predictions as to
future facts and conditions, which may be difficult to accurately
make and involve the assessment of events beyond CIFC's control.
Caution must be exercised in relying on forward-looking statements.
The forward-looking statements in this release are subject to risks
and uncertainties, including the risk that the strategic
relationship is not consummated or, if consummated, terminated by
one or both of the parties, and the other risks related to CIFC's
business that are described in its annual report on Form 10-K. The
forward-looking statements contained in this press release are made
as of the date hereof, and CIFC undertakes no obligation to update
any forward-looking statement to reflect subsequent events, new
information or circumstances arising after the date hereof.
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SOURCE CIFC (Commercial Industrial Finance Corp)