CIFC Announces The Hiring Of John Wu As Managing Director & Portfolio Manager Focusing On Structured Investments

NEW YORK, Dec. 20, 2012 /PRNewswire/ -- CIFC Corp. (NASDAQ: DFR) ("CIFC") today announced that John Wu has joined the firm as Managing Director and Portfolio Manager focusing on structured investments. Mr. Wu brings 16 years of financial industry experience with structured products expertise, particularly in structured credit and collateralized loan obligations ("CLOs").

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"We are delighted for John to join CIFC.  John brings a strong structured products background which complements our highly experienced fundamentals-based credit team," said Steve Vaccaro, Chief Investment Officer.  "John will be instrumental in our structured credit investments, and a key part of our growth plan through his involvement in diversifying our credit platform."

"I am very excited to join CIFC," said Mr. Wu. "CLOs continue to offer a compelling risk-adjusted return and current yield using portfolios that comprise primarily of senior secured loans.  As one of the largest issuers of CLOs in 2012, CIFC is well positioned to meet the increasing investor demand for such solutions in 2013. CIFC's strong credit culture and focus on delivering value to investors across multiple products and investment solutions drew me to the firm.  I look forward to being part of its future as CIFC continues to leverage its proven credit expertise in new ways and grow its platform." 

Prior to joining CIFC, Mr. Wu was head of CLO structuring at UBS.  Prior to joining UBS in 2011, Mr. Wu ran asset side new product development at China International Capital Corporation (CICC), a major Chinese investment bank.  Previously, Mr. Wu spent 7 years at Deutsche Bank from 2003 to 2010, covering CLOs and other structured products.  He had various roles at Deutsche Bank in both structuring and trading.  Mr. Wu began his investing career at Sanford Bernstein in 1995 and worked in the Credit Derivatives group at Goldman Sachs from 2000 to 2003.  Mr. Wu holds an MBA from the MIT Sloan School of Management and a B.S. in electrical engineering and computer science from Yale University.

About CIFC

Founded in 2005, CIFC Asset Management (the "Firm" or "CIFC") is a fundamentals based, relative value credit manager with $10.9bn under management from corporate loan-based products as of September 30, 2012.  Our senior management team averages 30 years of credit experience in having managed credit businesses in every cycle since the 1980's. 

Headquartered in New York, CIFC is a SEC registered investment advisor and a publicly traded company (NASDAQ: DFR). We currently serve over 200 institutional investors globally in providing access to the credit space. CIFC's primary shareholders include Charlesbank Capital Partners, Columbus Nova, GE Capital, CIFC management as well as public shareholders. For more information, please visit CIFC's website at www.cifc.com.

Certain statements in this press release are forward-looking statements, as permitted by the Private Securities Litigation Reform Act of 1995. These include statements regarding future results or expectations. Forward-looking statements can be identified by forward-looking language, including words such as "believes," "anticipates," "expects," "estimates," "intends," "may," "plans," "projects," "will" and similar expressions, or the negative of these words. Such forward-looking statements are based on facts and conditions as they exist at the time such statements are made, various operating assumptions and predictions as to future facts and conditions, which may be difficult to accurately make and involve the assessment of events beyond CIFC's or GE Capital's control. Caution must be exercised in relying on forward-looking statements.  The forward-looking statements contained in this press release are made as of the date hereof, and neither CIFC nor GE Capital undertakes any obligation to update any forward-looking statement to reflect subsequent events, new information or circumstances arising after the date hereof.

SOURCE CIFC Corp.