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CIFC Asset Management Review

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CIFC Asset Management LLC

CIFC Asset Management LLC is a financial advisor firm headquartered in New York City and with a branch in London. Its 37 advisors
manage approximately $26 billion in assets. The firm works exclusively within the realm of institutional investment management - that is, it does not work with any individual clients. If you’re an individual looking for a financial advisor, try out SmartAsset’s free matching tool.

CIFC Asset Management Background

CIFC Asset Management is part of CIFC Corp.’s group of financial services companies. The firm was founded in 2005. Today, it is under the leadership of CEO and chief investment officer Stephen Vaccaro and chief operating officer John DiRocco.

The more than 37-advisor team at CIFC Asset Management boasts a significant number of certifications, including six chartered financial analysts (CFAs) and two certified public accountants (CPAs).

CIFC Asset Management Client Types and Minimum Account Sizes

The primary clients of CIFC Asset Management are collateralized loan obligation (CLO) funds, private investment funds and investors in corporate and structured credit. CIFC also manages accounts for a handful of insurance companies, pension and profit-sharing plans and banks.

CIFC Asset Management doesn’t explicitly require any minimum initial investments or minimum account sizes.

Services Offered by CIFC Asset Management

CIFC Asset Management’s hallmark service is discretionary investment management. In order to do this, the firm’s team of advisors complete original research and assessments of various investment opportunities and markets. These advisors also focus on strong diversification to avoid security imbalances and engage in active portfolio management and continuous rebalancing and strategy reassessment.

CIFC Asset Management Investing Philosophy

CIFC Asset Management utilizes a fundamentals-based approach to investing. This ideology is centered around a combination of relative value trading and constant rebalances. By maintaining this approach over time, the firm will learn about various gaps on the levels of both markets and securities, which it can then use to leverage for stronger returns.

Fees Under CIFC Asset Management

Although CIFC Asset Management does not release specific fee rates for its services, it does state that fees are negotiable on a client-to-client basis. Some of the types of fees it charges include senior management fees, subordinated management fees and performance-based fees.

In general, CIFC charges its fees each quarter based on the total amount of assets under management that a fund or client has invested. The only exception to this is performance-based fees, as they are only charged when a specific performance benchmark is hit.

CIFC Asset Management Awards and Recognition

CIFC Asset Managment was named "CLO Manager of the Year, Americas" by Private Debt Investor in the years 2013, 2014, 2015 and 2017.

Additionally, in 2016, Creditflux awarded the firm "Best High Yield Fund," "Manager of the Year" and "Best CLO Fund." 

What to Watch Out For

CIFC Asset Management has one disclosure on its Form ADV. However, this lone disclosure dates back to 2011 and involves Deerfield Capital Corp., which is one of the predecessor firms to CIFC Asset Management and no longer exists. 

Also worth noting: certain clients at CIFC Asset Management will be charged performance-based fees. These can pose conflicts of interest, since advisors have the financial incentive to favor these accounts and to take on risk. That said, the firm is bound by its fiduciary duty to act in its clients' best interests, no matter what.

Opening an Account With CIFC Asset Management

The best way to get in touch with CIFC Asset Management is by phone at (212) 624-1200.

All information is accurate as of the writing of this article.

Tips for Your Investment Portfolio

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  • Don't forget to account for taxes as the investment returns come rolling in. If you’re unsure of what kind of tax bill to expect, try SmartAsset’s capital gains tax calculator.

How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. This reflects the typical return on a conservative investment portfolio. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research