NEW YORK, Oct. 19, 2015 (GLOBE NEWSWIRE) -- CIFC Corp. (NASDAQ:CIFC), and its subsidiaries (collectively “CIFC” or the “Company”) today announced that Robert J. Klein has joined the firm as Senior Portfolio Manager and Managing Director, Structured Products, and will lead the firm’s structured products portfolios. Mr. Klein reports to Co-Presidents Oliver Wriedt and Steve Vaccaro and will join the firm’s Operating Committee.
“Robert brings a wealth of experience to CIFC and further strengthens our structured products platform,” said Steve Vaccaro, Chief Investment Officer of CIFC. “We have worked closely with him for many years and are very pleased to have him on our team.”
Mr. Klein joins from Prospect Capital Management, where he was the lead portfolio manager for the firm’s CLO investments. Mr. Klein was instrumental in creating Prospect’s market leading position as one of the largest investors in CLO equity with a portfolio that grew to $1.5 billion in investments.
“I am thrilled to be joining the CIFC platform. CIFC was one of the first collateral managers that we invested with as I started the CLO business at Prospect, so I have known Oliver, Steve and their team for many years now. I look forward to leading the fundraising and investing efforts for CIFC’s structured products portfolios. Today there exists a tremendous market opportunity where relative value trades are available in significant size and diversity as many historical buyers of various parts of the CLO value chain have left the market. This leaves prices weakened, and those with capital to invest with a unique window of opportunity to achieve outsized yields and terrific upside,” commented Mr. Klein.
Prior to founding the CLO business at Prospect, Mr. Klein worked at American Capital, Ltd. where he was a Managing Director and led the New York private equity and financial sponsor lending teams, leading numerous debt and equity investments. Prior to American Capital, Mr. Klein worked at American Securities and American Industrial Partners, both active middle-market private equity firms. Mr. Klein began his career in the Mergers and Acquisitions groups of First Boston and Morgan Stanley.
CIFC is a fundamentals-based, relative-value credit manager investing across CLOs, structured credit and total return portfolios. Headquartered in New York, CIFC is an SEC registered investment adviser and is listed on NASDAQ. The firm currently serves more than 250 institutional investors globally, and manages approximately $14.0 billion in assets. 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, 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, 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.
CONTACT: Investor Relations at InvestorRelations@cifc.com or +1 (212)-624-1420