NEW YORK, Feb. 7, 2012
/PRNewswire/ -- CIFC Corp. (NASDAQ: DFR) (the
"Company") is pleased to announce that its wholly-owned indirect
subsidiaries, DFR Middle Market Holdings Ltd. and Deerfield Capital
Management LLC (together, the "Sellers"), today entered into and
consummated the sale of 100% of each of the unrated Subordinated
Note and Class D Deferrable Mezzanine Notes tranches issued by DFR
Middle Market CLO Ltd. (the "CLO"), together with the rights to
manage the CLO, for an aggregate sale price of $36.5 million. This sale, together with
other asset sales and dispositions, represents the completion of
the Company's intention to reposition its core business as a fee
based asset manager and free up capital to support further
growth.
(Logo: http://photos.prnewswire.com/prnh/20111114/NY06218LOGO
)
About the Company
The Company, based in New York,
is one of the largest senior secured corporate loan managers in the
world. The Company combines what it believes are the best
underwriting, portfolio management and value maximization practices
of banks and asset managers to unlock long-term value for
investors. The Company's heritage CIFC CLO fund family has market
leading performance in the U.S. managed CLO segment. The firm
manages $10.7 billion across 29 CLOs
as of September 30, 2011 and serves
more than 200 institutional investors in North America, Europe, Asia
and Australia. For more
information, please visit the Company's website at
www.cifc.com.
Certain statements in this press release are forward-looking
statements, as permitted by the Private Securities Litigation
Reform Act of 1995. 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 the Company's
control. Caution must be exercised in relying on forward-looking
statements. The forward-looking statements contained in this
press release are made as of the date hereof, and the Company does
not undertake any obligation to update any forward-looking
statement to reflect subsequent events, new information or
circumstances arising after the date hereof.
SOURCE CIFC Corp.