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Peter Gleysteen and CIFC Announce Establishing CIFC International
London and New York (ots/PRNewswire) -
Commercial Industrial Finance Corporation, ("CIFC") announced today the launch of its international investing operations, CIFC International ("CIFC Intl."). CIFC Intl. will be based in London and will be led by Cheryl Boucher, Senior Partner, and Ruth Traugott, Senior Partner. Ms. Boucher and Ms. Traugott are seasoned bankers who together bring over forty years of experience and each have over ten years of experience in the European leveraged finance market. Both Ms. Boucher and Ms. Traugott have previously worked with Peter Gleysteen, the founder and Chief Executive Officer of CIFC, and formerly the head of JPMorganChase's syndicated loan business.
Speaking about the opportunity in Europe, Peter Gleysteen states, "We believe there is significant demand among European Lead Arrangers and Agent Banks for a non-competitive co-lender for smaller leveraged loans and project finance loans, as well as for a prompt, predictable partner for broadly syndicated credits. With their depth of knowledge of the market and the key players, Cheryl and Ruth are terrific colleagues to lead CIFC's growth into Europe".
CIFC currently has over US$ 2.5 Billion in assets under management in five closed US CLOs plus US$ 2.0 Billion in financing capacity. In addition, CIFC Intl. has euro 1.0 Billion of initial financing capacity and will begin with commitments up to euro 50 Million (plus pounds Sterling and AUS $ equivalents) to 1st lien and 2nd lien loans.
CIFC is a specialized co-lender and asset manager. The firm exclusively sources assets from banks as a non-competitive, wholesale partner. CIFC invests in US$, Euro and pounds Sterling commercial and industrial (C&I) loans and credit exposures while specializing in senior secured leveraged loans to middle market and private equity portfolio companies. "We view arrangers, as well as our investors, as our customers and partners. We align our interest with both as a principal by co-investing at least 10% or more of the equity in each loan portfolio" said Peter Gleysteen. CIFC is capitalized with US$ 57 Million of equity (US$ 50 Million provided by Charlesbank Capital Partners, LLC, CIFC's strategic partner, and the balance by CIFC professionals).
ots Originaltext: Commercial Industrial Finance Corporation
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