CIFC: We can work it out

Monday, June 07, 2010

CIFC has reaped the rewards of detailed credit research and of managing assets that go into default through a dedicated work-out specialist

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Comment by: Anonymous. Posted 13 years ago [2010-06-11 16:06:17]

Is CIFC for sale? Why else would you put out this sort of sales pitch other than to prime the market for a sale. I expect they're now receiving a number of calls from the investment bankers and the CLO buyers.

Comment by: Anonymous. Posted 13 years ago [2010-06-07 22:33:35]

With AUM of $3.6 billion, it does make sense to combine with another asset manager to increase scale. The track record of the 7 CLOs looks strong. (Congratulations to the team.) But it's worth asking if the portfolios of these 7 deals overlap to a high degree. This is likely the case which explains why the deals are performing similarly. Overlap among deals is a disincentive for an investor in one deal to invest in others.

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