CIFC - Our Business

CLOs

$19.2B AUM

Largest U.S. CLO manager by total issuance in 2019 (as of June 30, 2019)
3rd largest U.S. CLO manager by deal count in 2019 (as of June 30, 2019)
CIFC originated CLOs have never breached an overcollateralization test (i.e. the cash distributions
to equity were never shut off) despite the severe market disruption of 2008-2009, attesting to our credit
underwriting, discipline, and diversification.
Our CLOs have meaningfully outperformed the S&P LSTA Leveraged Loan Index with respect to defaults (under
150 bps over the last 10 years) and our high recovery rates (>60%) are a testament to the robust investment process.
CIFC CLO equity investors have realized consistent, top tier cumulative annualized fund returns.

Corporate Credit

$5.1B AUM

CIFC is focused on bespoke solutions in global sub-investment grade credit across leveraged loans, high yield bonds, and special situations. Our U.S. corporate credit loan strategy is led by our Deputy CIO, Stan Sokolowski, who has 28 years of credit experience. Our European corporate credit loan strategy is led by European CIO, Dan Robinson, who has 21 years of credit experience. Our long-only loan strategy seeks to proactively exploit credit market inefficiencies through a portfolio that generates current income with a focus on principal preservation and secondary market liquidity. Our special situations strategy is headed by Steven Gendal who has 23 years of credit experience. The strategy specializes in event-driven, leveraged credit and equity opportunities across stressed and distressed issuers as well as special situations with an emphasis on capital preservation and asymmetric upside potential.

Structured Credit

$700M AUM

CIFC has been an investor in structured products, mainly CLO debt and CLO equity, since inception. The Structured Credit Investments team is led by Jay Huang. Prior to joining CIFC, Jay spent 16 years at Citigroup where he was managing director and global head of the CLO, CDO and distressed SIV trading businesses. Jay is supported by a dedicated group of experienced credit professionals, and a robust structured credit analytics infrastructure.