CIFC will leverage BNY Mellon's international distribution
network giving BNY Mellon clients access to CIFC's U.S. direct
lending capabilities
NEW YORK ,
March 20,
2024 /PRNewswire/ -- BNY Mellon (NYSE:BK), a leading
global financial services company, today announced an expanded
partnership between alternative credit specialist CIFC and BNY
Mellon Investment Management (BNY Mellon IM).
Building on a long-standing relationship between BNY Mellon and
CIFC, this expanded partnership will see BNY Mellon IM having
access to CIFC's U.S. direct lending strategy on its global
distribution platform for clients across EMEA and APAC where the
product is available for sale.
"CIFC has been a valued client of BNY Mellon's for over 10
years," said Cathinka Wahlstrom, Chief Commercial Officer at BNY
Mellon. "Starting with asset servicing, our ongoing partnership
is expanding to include our investment management distribution
platform and exemplifies how BNY Mellon's market-leading suite of
solutions can support our clients at every stage of their
lifecycle. In our 240th year of business, we are proud
to leverage centuries of expertise as we partner with clients to
understand their unique objectives and innovate to expand their
capabilities."
"We're excited to evolve our relationship with BNY Mellon and
see a huge opportunity to partner with the firm's Investment
Management business," commented John DiRocco, Chief Operating Officer at
CIFC. "With its global distribution footprint, local knowledge
and experience working with firms like ours, BNY Mellon is an ideal
partner as we look to the next stage of our international
growth."
The partnership comes to fruition at a time when the private
credit market is benefiting from cyclical and secular growth
trends; European institutions are under-allocated, and demand from
investors is increasing globally.
"Our clients continue to look for innovative investment
solutions across both public and private markets, specifically US
private credit." added Matt
Oomen, Global Head of Distribution at BNY Mellon Investment
Management. "This partnership gives our clients exposure to the
benefits US private credit has to offer, whilst enabling CIFC to
access our extensive, deep investor relationships across the
regions, as well as some of the largest pools of capital
available."
Media contacts
BNY Mellon Investment Management
Anneliese Diedrichs
+44 7930 135 524
anneliese.diedrichs@bnymellon.com
Vivi McCann
+44 7985-029-826
Vivianne.mccann@bnymellon.com
Notes to editors
About BNY Mellon
BNY Mellon is a global financial services company that helps make
money work for the world – managing it, moving it and keeping it
safe. For 240 years we have partnered alongside our clients,
putting our expertise and platforms to work to help them achieve
their ambitions. Today we work with over 90% of Fortune 100
companies and nearly all the top 100 banks globally to access the
money they need. We support governments in funding local projects
and work with over 90% of the top 100 pension plans to safeguard
investments for millions of individuals, and so much more. As of
December 31, 2023, we oversee
$47.8 trillion in assets under
custody and/or administration and $2.0
trillion in assets under management.
BNY Mellon is the corporate brand of The Bank of New York Mellon
Corporation (NYSE: BK). We are headquartered in New York City, employ over 50,000 people
globally and have been named among Fortune's World's Most Admired
Companies and Fast Company's Best Workplaces for Innovators.
Additional information is available on www.bnymellon.com. Follow us
on LinkedIn or visit our Newsroom for the latest company
news.
About BNY Mellon Investment
Management
BNY Mellon Investment Management is one of the
world's largest asset managers, bringing to clients the best of
both worlds: specialist expertise from seven investment firms
offering solutions across every major asset class, backed by the
strength, stability, and global presence of BNY Mellon. Additional
information on BNY Mellon Investment Management is available on
www.bnymellonim.com.
About CIFC and LBC Credit Partners
Founded in 2005,
CIFC is an alternative credit specialist offering investment
solutions across CLOs, corporate, structured, opportunistic credit
and direct lending strategies, seeking to deliver consistently
attractive risk-adjusted returns to investors globally. The firm
leverages its fundamental-based research and deep experience
investing across a wide variety of credit cycles and interest rate
environments to target investment opportunities that generate alpha
while preserving investor principal.
In December 2021, CIFC acquired
LBC Credit Partners, expanding its alternative global credit
platform into the private credit market. With the acquisition, CIFC
currently manages over $41 billion in
assets and employs more than 200 professionals in the U.S. and
Europe. To learn more, follow CIFC
on LinkedIn or visit www.cifc.com or www.lbccredit.com.
This Press Release is issued to members of the press and media
and the information contained herein should not be construed as
investment advice or a recommendation of any investment strategy.
It does not constitute an offer or solicitation of securities or
investment services or an endorsement thereof in any jurisdiction
or in any circumstance in which such offer or solicitation is
unlawful or not authorized.
BNY Mellon is the corporate brand of The Bank of New York Mellon
Corporation and may also be used as a generic term to reference the
corporation as a whole or its various subsidiaries
generally.
Important information
Unless otherwise specified
herein, all information in this Press Release has been sourced by
BNY Mellon as of 20 March 2024. This
Press Release is qualified for issuance in the UK, Switzerland and Europe and is for information purposes only.
The views, opinions, assumptions or estimates contained herein are
as of such date and are subject to change without notice. Any
forecast, projection, simulation, or target is indicative and not
guaranteed. Where content has been obtained or derived from sources
outside BNY Mellon, such sources are believed to be reliable and
current, however, BNY Mellon cannot guarantee the adequacy,
accuracy, or completeness of such content. The material has not
been reviewed by any regulatory authority in any
jurisdiction.
In the UK, this Press Release is issued by BNY Mellon Investment
Management EMEA Limited (BNYMIM EMEA) to members of the financial
press and media and the information contained herein should not be
construed as investment advice. Registered office of BNYMIM EMEA:
BNY Mellon Centre, 160 Queen Victoria
Street, London, EC4V 4LA.
Registered in England no. 1118580.
Authorized and regulated by the Financial Conduct Authority. A BNY
Mellon Company.
In Europe (ex-Switzerland), this Press Release is issued by
BNY Mellon Fund Management (Luxembourg) S.A. (BNY MFML) to members of
the financial press and media and the information contained herein
should not be construed as investment advice. BNY MFML is a public
limited company (société anonyme) incorporated and existing under
Luxembourg law under registration
number B28166 and having its registered address at 2-4 Rue Eugène
Ruppert L-2453 Luxembourg.
Regulated by the Commission de Surveillance du Secteur Financier
(CSSF). A BNY Mellon Company.
In Switzerland, this Press
Release is issued by BNY Mellon Investments Switzerland GmbH to
members of the financial press and media and the information
contained herein should not be construed as investment advice. BNY
Mellon Investments Switzerland GmbH, Bärengasse 29, CH-8001 Zürich,
Switzerland.
View original
content:https://www.prnewswire.com/news-releases/bny-mellon-expands-partnership-with-alternative-credit-specialist-cifc-302094420.html
SOURCE BNY Mellon