CIFC Corp, a relative-value credit manager, has hired Julian Weldon as head of corporate strategy.
The position is new and Weldon will lead the firm’s expansion into non-CLO credit strategies, CIFC said in a statement today (7 April). He reports to co-presidents Steve Vaccaro and Oliver Wriedt.
Weldon was previously general counsel and chief compliance officer at New York-based credit firm, Garrison Investment Group, for seven years. Before Garrison, he was senior counsel in the banking department of Allen & Overy, a large multinational law firm.
“Julian brings nearly 20 years of diverse experience across legal and credit markets,” Wriedt said in a statement. “This unique skill set will make him a valuable asset as we continue to grow our team and build out our platform.”
Weldon's experience includes launching new stand-alone operating businesses and joint ventures, as well as handling investments across direct lending, distressed corporate credit, structured credit, real estate, shipping and consumer finance.
CIFC closed its first collateralized loan obligation this year in March. The CIFC Funding 2015-I represented $614.1 million of par value of notes, as PDI previously reported. The firm has sponsored 14 CLOs since 2012, raising about $8 billion of assets under management. CIFC has $13.7 billion in assets overall across its loan products. The firm was PDI’s CLO manager of the year in the Americas for the second year running.