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CIFC completes USD559.9m CLO

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CIFC Corp has closed a new collateralised loan obligation (CLO), CIFC Funding 2014-V, LTD, representing USD559.9 million of par and approximately USD550 million of new Assets Under Management. 

The transaction was led by RBC Capital Markets, LLC and supported by fourteen institutional investors, including some first time investors with CIFC. CIFC has sponsored five CLOs this year, raising USD3.3 billion in new AUM. ]

Oliver Wriedt, CIFC's Co-President, says: "Strong investor interest, among other factors, allowed the Company to upsize each fund from its initial target capital raise."

The five CLOs benefited from attractive warehouse facilities provided by the arranging banks that enabled the Company to aggregate up to 50% of collateral pre-pricing.

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