CIFC Asset Management LLC, an alternative credit specialist serving institutional investors globally, is acquiring LBC Credit Partners, a middle market direct lending platform.
LBC has over $3 billion in assets under management and is a trusted partner focused on middle market direct lending. The firm makes use of a disciplined investment strategy concentrated on attractive risk and reward, proactive sourcing and portfolio management.
Following the deal, LBC will join the CIFC platform as a subsidiary and will continue to trade as LBC. The firm’s strategy, management and processes will operate unchanged.
“Over the past six years, CIFC has taken important strategic steps to further strengthen, diversify and expand our credit platform across corporate, structured, and opportunistic credit strategies,” commented Steve Vaccaro, CIFC CEO. “Partnering with LBC through this acquisition is a natural next step in our evolution as we seek to continue generating attractive returns for institutional investors across the entire credit spectrum.”
“CIFC has cemented its position as a world-class alternative credit manager globally and represents the ideal partner for LBC due to our strong cultural alignment and shared focus on fundamental credit, teamwork and collaboration,” added John Brignola, senior managing partner of LBC. “This union will enable us to leverage our collective investment expertise, global IR and fundraising capabilities, robust technology platform, and operational infrastructure to help accelerate our collective growth while deepening our relationships with investors worldwide. “