NEW YORK, Dec. 30, 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-V, LTD., representing $559.9
million of par and approximately $550
million of new Assets Under Management ("AUM"). The
transaction was led by RBC Capital Markets, LLC and supported by
fourteen institutional investors, including some first time
investors with CIFC.
CIFC has sponsored five CLOs this year, raising $3.3 billion in new AUM. Oliver Wriedt, CIFC's Co-President said, "Strong
investor interest, among other factors, allowed the Company to
upsize each fund from its initial target capital raise."
The five 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 $13.3
billion of loan based AUM at September 30, 2014. 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.
Forward-looking 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 and on 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 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.
Logo -
http://photos.prnewswire.com/prnh/20111114/NY06218LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/cifc-completes-5599-million-collateralized-loan-obligation-clo-300014648.html
SOURCE CIFC Corp.