TEL AVIV, Israel & NEW YORK--(BUSINESS WIRE)--IBI Investment House Ltd. (“IBI”), one of Israel's leading investment houses, announced the launch of IBI CLO Strategies Fund, a fund investing in collateralized loan obligation (“CLO”) debt, equity, and warehouses (the "Fund"). The Fund signed a cooperation agreement with CIFC Asset Management LLC (“CIFC”), an alternative credit specialist serving institutional investors globally with more than $39 billion in assets under management. IBI and CIFC respectively serve as Fund manager and sub-advisor of the Fund.
The Fund’s objective is to offer eligible Israeli investors access to CLOs, which are actively managed securitizations backed by a diversified pool of senior secured corporate loans. This complex asset class has gained prominence in recent years given its historical combination of above average-yield and potential appreciation, as well as resiliency during times of market turbulence. The Fund will predominantly invest in third-party managed CLO debt, CLO equity and CLO warehouses across primary and secondary markets in the United States. The Fund offers monthly subscriptions with quarterly redemptions.
Dave Lubetzky, Chief Executive Officer of IBI, said, “We are pleased to launch IBI CLO Strategies Fund and to partner with CIFC, one of the largest and most well-recognized managers of CLOs globally, to provide our investors access to the CLO market at a time when demand for CLOs has never been greater. Partnering with top investment talent like CIFC, combined with IBI's expertise in managing alternative funds, is in-line with our strategy of developing innovative investment solutions for our clients.”
Tzvika Katzman (the Fund’s CEO and senior investment manager at IBI) and Jason Ziegler (Managing Director and CLO Specialist at CIFC) worked together to structure the Fund. Jay Huang (Managing Director and Head of Structured Credit Investments at CIFC) and Matthew Andrews (Managing Director and Head of Capital Markets at CIFC) serve as co-portfolio managers of the Fund. Messrs. Huang and Andrews each possess over two decades of experience in structured finance and investment banking, and are supported by CIFC’s robust credit research team comprised of 27 analysts.
Steve Vaccaro, Chief Executive Officer and Chief Investment Officer of CIFC, said, “IBI is not only a trusted name with a proven track record in the Israeli capital market, but also shares our commitment to investment innovation and excellence. We are pleased to have been selected for this unique mandate which enables us to continue expanding the breadth and depth of our offerings across investment structures, investors, and geographies. The resiliency that CLOs have demonstrated across recent credit cycles is well suited for the current market environment, and we are pleased to be able to offer Israeli investors exposure to this attractive asset class in a format tailored to their liquidity preferences.”
IBI Investment House is a leading, diverse, creative and innovative organization that is among the top tier of Israeli investment houses, with over 50 years of experience in the capital market. IBI provides specialized solutions in numerous financial areas for tens of thousands of private, institutional and corporate clients in Israel and overseas. For more information, visit https://www.ibi.co.il/about/.
Founded in 2005, CIFC Asset Management LLC is an alternative credit specialist offering investment solutions across CLOs, corporate, structured, opportunistic credit and direct lending strategies, designed to deliver consistently attractive risk-adjusted returns to investors globally. The firm leverages its fundamentals-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. CIFC currently manages over $39 billion in assets and employs more than 185 professionals in the U.S. and Europe. For more information, visit www.cifc.com.