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CIFC Private Credit Management
CIFC was founded in 2005 by Stephen Vaccaro and John DiRocco, originally as a structured credit shop focused on collateralized loan obligations.
CIFC Private Credit Management
CIFC was founded in 2005 by Stephen Vaccaro and John DiRocco, originally as a structured credit shop focused on collateralized loan obligations. The firm weathered the 2008 financial crisis and rebuilt under new ownership, eventually being acquired by FAB Partners in 2014 and later partnering with DigitalBridge Group. Through these transitions, CIFC kept its core competency in US and European broadly syndicated loans, steadily growing its CLO management business. The firm now runs a multi-strategy credit platform anchored by a CLO franchise that has issued over 70 CLOs. Its strategies span US and European CLOs, direct lending through separately managed accounts and commingled vehicles, and opportunistic credit. CIFC invests across the capital structure — from senior secured loans to mezzanine debt — in middle-market and large-cap corporate borrowers. The firm has committed capital to companies including Altice USA and Virgin Media, and co-invests alongside sponsors like KKR and Apollo on select transactions. Geographically, CIFC originates deals across North America and Western Europe, with offices in New York and London. CIFC manages approximately $35 billion in assets as of 2024, with a team that includes over 80 investment professionals split between New York and London. The firm operates adjacent vehicles including CIFC Loan Fund, a 1940-Act registered interval fund that gives individual investors access to floating-rate corporate loans. In October 2023, CIFC priced its largest CLO of the year — a $1.6 billion US broadly syndicated loan CLO — signaling continued scale in its core market. CIFC's structure distinguishes it from most private credit managers. The firm runs a CLO-heavy model that combines public market discipline with private credit sourcing — a hybrid approach that forces transparency on underwriting standards because CLO portfolios are marked-to-market and rated by agencies. This structure creates a different risk profile than the pure direct lending funds that dominate the private credit industry today, giving investors exposure to floating-rate corporate credit through multiple vehicles with different liquidity profiles.
General information
Firm type
Asset Manager
Year founded
2005
AUM
Approximately $35 billion (per the firm's official communications)
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Additional offices
London, United Kingdom
Principals
Oliver Wriedt
CEO & Co-President
Andrew Fink
Co-President & Head of CLOs
Carlos Garcia
Chief Investment Officer
Sector focus
Frequently asked questions
What is CIFC's primary investment strategy?
CIFC is fundamentally a CLO manager — its core business is originating, structuring, and managing collateralized loan obligations backed by US and European broadly syndicated loans. The firm has issued over 70 CLOs since inception. Beyond CLOs, it manages direct lending strategies and an opportunistic credit fund, but the structured credit franchise is the dominant revenue driver.
Who owns CIFC?
CIFC is majority-owned by DigitalBridge Group, a digital infrastructure investment firm that acquired a controlling stake in 2019. Prior to DigitalBridge, CIFC was owned by FAB Partners, a private investment partnership that bought the firm out of a restructuring in 2014. No single family or individual holds controlling ownership.
How does CIFC's CLO model differ from most direct lending firms?
CLOs are publicly rated, structured vehicles that hold portfolios of broadly syndicated loans — unlike direct lending funds, CLO portfolios are marked-to-market and subject to rating agency oversight. This forces a different underwriting discipline and gives CIFC a structural cost-of-capital advantage in the senior secured loan market. Most private credit managers have no equivalent public-facing credit book.
Does CIFC offer retail-accessible vehicles?
Yes — CIFC operates the CIFC Loan Fund, a registered 1940-Act interval fund that provides individual investors access to floating-rate senior secured corporate loans. This is separate from the institutional CLO and commingled fund business and represents a deliberate expansion into the wealth channel.
What geographies does CIFC invest in?
CIFC invests in US and European credit markets, with CLO portfolios holding both North American and Western European broadly syndicated loans. Its direct lending strategy also originates middle-market loans in both regions. The London office handles European origination and analysis.
How did CIFC weather the 2008 financial crisis?
CIFC was originally founded in 2005 and entered the financial crisis as a CLO manager — the firm restructured in 2014 when FAB Partners recapitalized it and brought in new management including CEO Oliver Wriedt. The post-crisis rebuild transformed CIFC from a niche structured credit shop into a scaled multi-strategy credit platform.
What is CIFC's default and loss experience on its CLO portfolios?
CIFC publicly reports its CLO performance through trustee reports and rating agency surveillance, which is standard for US CLO managers. Specific cumulative default rates are available through CLO-i and Intex databases. The firm's long track record through multiple credit cycles provides a transparent performance history — a structural differentiator versus opaque direct lending funds.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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