CIFC closes fourth CLO of the year

The US CLO based manager is approaching $10bn in AUM.

NASDAQ-listed lender CIFC has closed a new collateralised debt obligation, CIFC Funding 2015-IV, on $512.8 million.

The CLO is the fourth from CIFC this year. The fund was supported by 25 institutional investors including some first-time commitments to CIFC, the firm said. Citigroup Global Markets led the transaction. 

CIFC has raised $9.5 billion of assets under management across 17 transactions since 2012. The firm’s first CLO of the year closed in March on $614 million. The second raised $513.4 million in May, and the third on $515.7 million in July.

The New York-headquartered manager is due to start fundraising for a second CLO co-investment fund in the fourth quarter, as reported. The CLO Co-Investment Fund II will target $250 million and invest in the warehouses, equity and mezzanine bonds of CIFC originated CLO deals, as well as those of third-party managers, as reported.

The second co-investment CLO fund will have a broader remit than the first, as it only co-invested in internal CLO deals. It raised $52 million and is now fully invested.