BNY Mellon Expands Partnership with Alternative Credit Specialist CIFC

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BNY Mellon (BK) announces an expanded partnership with CIFC, allowing BNY Mellon clients access to CIFC's U.S. direct lending capabilities. The partnership aims to leverage BNY Mellon's global distribution network to offer CIFC's strategy to clients in EMEA and APAC. The collaboration highlights BNY Mellon's commitment to supporting clients with innovative solutions and CIFC's international growth aspirations.

CIFC will leverage BNY Mellon's international distribution network giving BNY Mellon clients access to CIFC's U.S. direct lending capabilities

NEW YORK , March 20, 2024 /PRNewswire/ -- BNY Mellon (NYSE:BK), a leading global financial services company, today announced an expanded partnership between alternative credit specialist CIFC and BNY Mellon Investment Management (BNY Mellon IM).  

Building on a long-standing relationship between BNY Mellon and CIFC, this expanded partnership will see BNY Mellon IM having access to CIFC's U.S. direct lending strategy on its global distribution platform for clients across EMEA and APAC where the product is available for sale.

"CIFC has been a valued client of BNY Mellon's for over 10 years," said Cathinka Wahlstrom, Chief Commercial Officer at BNY Mellon. "Starting with asset servicing, our ongoing partnership is expanding to include our investment management distribution platform and exemplifies how BNY Mellon's market-leading suite of solutions can support our clients at every stage of their lifecycle. In our 240^th year of business, we are proud to leverage centuries of expertise as we partner with clients to understand their unique objectives and innovate to expand their capabilities."

"We're excited to evolve our relationship with BNY Mellon and see a huge opportunity to partner with the firm's Investment Management business," commented John DiRocco, Chief Operating Officer at CIFC. "With its global distribution footprint, local knowledge and experience working with firms like ours, BNY Mellon is an ideal partner as we look to the next stage of our international growth."

The partnership comes to fruition at a time when the private credit market is benefiting from cyclical and secular growth trends; European institutions are under-allocated, and demand from investors is increasing globally.

"Our clients continue to look for innovative investment solutions across both public and private markets, specifically US private credit." added Matt Oomen, Global Head of Distribution at BNY Mellon Investment Management. "This partnership gives our clients exposure to the benefits US private credit has to offer, whilst enabling CIFC to access our extensive, deep investor relationships across the regions, as well as some of the largest pools of capital available."

Media contacts

BNY Mellon Investment Management  
Anneliese Diedrichs
+44 7930 135 524
anneliese.diedrichs@bnymellon.com    

Vivi McCann
+44 7985-029-826 
Vivianne.mccann@bnymellon.com 

Notes to editors

About BNY Mellon
BNY Mellon is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For 240 years we have partnered alongside our clients, putting our expertise and platforms to work to help them achieve their ambitions. Today we work with over 90% of Fortune 100 companies and nearly all the top 100 banks globally to access the money they need. We support governments in funding local projects and work with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of December 31, 2023, we oversee $47.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management. 

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). We are headquartered in New York City, employ over 50,000 people globally and have been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on www.bnymellon.com. Follow us on LinkedIn or visit our Newsroom for the latest company news. 

About BNY Mellon Investment Management
BNY Mellon Investment Management is one of the world's largest asset managers, bringing to clients the best of both worlds: specialist expertise from seven investment firms offering solutions across every major asset class, backed by the strength, stability, and global presence of BNY Mellon. Additional information on BNY Mellon Investment Management is available on www.bnymellonim.com. 

About CIFC and LBC Credit Partners
Founded in 2005, CIFC is an alternative credit specialist offering investment solutions across CLOs, corporate, structured, opportunistic credit and direct lending strategies, seeking to deliver consistently attractive risk-adjusted returns to investors globally. The firm leverages its fundamental-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.

In December 2021, CIFC acquired LBC Credit Partners, expanding its alternative global credit platform into the private credit market. With the acquisition, CIFC currently manages over $41 billion in assets and employs more than 200 professionals in the U.S. and Europe. To learn more, follow CIFC on LinkedIn or visit www.cifc.com  or www.lbccredit.com.

This Press Release is issued to members of the press and media and the information contained herein should not be construed as investment advice or a recommendation of any investment strategy. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorized. 

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may also be used as a generic term to reference the corporation as a whole or its various subsidiaries generally. 

Important information
Unless otherwise specified herein, all information in this Press Release has been sourced by BNY Mellon as of 20 March 2024. This Press Release is qualified for issuance in the UK, Switzerland and Europe and is for information purposes only. The views, opinions, assumptions or estimates contained herein are as of such date and are subject to change without notice. Any forecast, projection, simulation, or target is indicative and not guaranteed. Where content has been obtained or derived from sources outside BNY Mellon, such sources are believed to be reliable and current, however, BNY Mellon cannot guarantee the adequacy, accuracy, or completeness of such content. The material has not been reviewed by any regulatory authority in any jurisdiction. 

In the UK, this Press Release is issued by BNY Mellon Investment Management EMEA Limited (BNYMIM EMEA) to members of the financial press and media and the information contained herein should not be construed as investment advice. Registered office of BNYMIM EMEA: BNY Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorized and regulated by the Financial Conduct Authority. A BNY Mellon Company. 

In Europe (ex-Switzerland), this Press Release is issued by BNY Mellon Fund Management (Luxembourg) S.A. (BNY MFML) to members of the financial press and media and the information contained herein should not be construed as investment advice. BNY MFML is a public limited company (société anonyme) incorporated and existing under Luxembourg law under registration number B28166 and having its registered address at 2-4 Rue Eugène Ruppert L-2453 Luxembourg. Regulated by the Commission de Surveillance du Secteur Financier (CSSF). A BNY Mellon Company. 

In Switzerland, this Press Release is issued by BNY Mellon Investments Switzerland GmbH to members of the financial press and media and the information contained herein should not be construed as investment advice. BNY Mellon Investments Switzerland GmbH, Bärengasse 29, CH-8001 Zürich, Switzerland.  

 

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SOURCE BNY Mellon

FAQ

What partnership did BNY Mellon (BK) announce?

BNY Mellon announced an expanded partnership with CIFC, allowing BNY Mellon clients access to CIFC's U.S. direct lending capabilities.

What does the expanded partnership aim to achieve?

The partnership aims to leverage BNY Mellon's global distribution network to offer CIFC's strategy to clients in EMEA and APAC.

Who commented on the partnership from BNY Mellon?

Cathinka Wahlstrom, Chief Commercial Officer at BNY Mellon, commented on the partnership.

Who commented on the partnership from CIFC?

John DiRocco, Chief Operating Officer at CIFC, commented on the partnership.

What market trends are benefiting the private credit market?

The private credit market is benefiting from cyclical and secular growth trends, with European institutions under-allocated and increasing demand from investors globally.