TSL Express Daily News

CIFC Funding 2022-II Deal Parties Contribute Over $225,000 to the TEAK Fellowship

NEW YORK--(BUSINESS WIRE)--CIFC Asset Management LLC (“CIFC”), an alternative credit specialist serving institutional investors globally with more than $38 billion in assets under management, today announced the second annual donation made on behalf of the CLO Initiative for Change, the firm’s philanthropic program in connection with collateralized loan obligations (“CLOs”) issued by CIFC. In support of educating and empowering students to reach their full potential regardless of financial means, CIFC has partnered with the deal parties of its latest CLO, CIFC Funding 2022-II, including RBC Capital Markets, Appleby (Cayman) Ltd, Allen & Overy LLP, Milbank LLP, BNY Mellon, and Locke Lord LLP, to make a collective contribution of over $225,000 to the TEAK Fellowship (“TEAK”). In addition to the financial contribution, CIFC team members will partner with TEAK to provide mentorship and/or educational support this year and potentially thereafter.

Founded in 1998 by Justine Stamen Arrillaga, TEAK is a free, ten-year college prep, access, and success program for middle school, high school, and college students located in New York City. Beginning the summer after sixth-grade, TEAK accompanies high-achieving, low-income students on journeys of academic and emotional preparation and mentorship. In addition to helping these students achieve entry into the nation's most prestigious high schools and colleges, TEAK provides its Fellows with access to internships and professional coaches, ultimately helping to create career opportunities to which these individuals may not have otherwise been aware. TEAK’s ten-year program starts in 7th grade and continues through college graduation. In 2004, TEAK began to broaden its reach by increasing enrollment from 25 to 30 students per cohort. In 2019, TEAK further broadened its reach by recruiting classes of 45 instead of 30. Every single Fellow has matriculated to a four-year college; of these, 89% have entered top-tier schools, averaging 30% into an Ivy League school each year. Now with its 24th cohort, the total number of Fellows in the program is currently 311. The CLO Initiative for Change’s financial contribution and mentorship support will help with TEAK’s continued goal of expansion in student capacity and services to the program each year.

Mark Sanofsky, Managing Director at CIFC and a member of the firm’s Diversity & Inclusion Committee, said, “As we mark the second year of the CLO Initiative for Change, our mission remains the same: to raise awareness for and advance the work of incredible organizations creating lasting change in our communities. TEAK does just that by engaging underprivileged students in rigorous, comprehensive programs that harness education and mentorship to unlock opportunity and transform lives. We are grateful to RBC and our other deal partners for joining us in this important effort and look forward to working hands-on with TEAK in the years ahead.”

Chris Heron at RBC Capital Markets added, “We are thrilled to once again collaborate with CIFC on the CLO Initiative for Change to support and bring awareness to incredible organizations like TEAK, which are leveling the playing field for learners in our community. The RBC team has long supported TEAK, and are proud to deepen our partnership through this charitable contribution.”

Dr. Denise Brown-Allen, Executive Director at TEAK, concluded, “TEAK was founded to provide aspiring young scholars across New York City access to excellent educational opportunities, in spite of their financial hardships, to achieve their full potential. Economic circumstances should never limit a student’s intellectual growth or determine a student’s future. We are grateful for CIFC’s and the CLO Initiative for Change’s support, which will enable TEAK to further expand the number of students we serve and fulfill our mission to uplift the next generation of leaders and impact the community at large.”

Launched in 2021, CIFC’s CLO Initiative for Change is dedicated to supporting organizations driving social, economic or environmental change. The partnership with TEAK is the second donation made on behalf of the program, which last year contributed $145,000 to Black Girls CODE in support of racial equity and economic progress in the Black community.

About CIFC

Founded in 2005, CIFC Asset Management LLC is a global credit specialist offering investment solutions across CLOs, corporate, structured, opportunistic and private credit strategies, designed with a goal to deliver consistently attractive risk-adjusted returns to investors. 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 $38 billion in assets and employs more than 185 professionals in the U.S. and Europe. For more information, visit www.cifc.com.

About CIFC’s Diversity & Inclusion Committee

CIFC’s Diversity & Inclusion Committee, which is led by senior leadership of the firm, is focused on advancing diversity and inclusion in the workplace. The Committee’s mission is to increase awareness and establish strategies and operating plans that incorporate business alignment, leadership accountability and measured success in key areas. CIFC recognizes that diversity of backgrounds -- be it gender, ethnicity, experience, or other -- contributes to diversity of thought and a deeper understanding of the world and of the countries and companies in which it invests. CIFC believes this leads to better insight, increased creativity, more informed risk-taking and decision making, and stronger business and investment results for clients and stakeholders.

Contacts

Media

U.S.
Amanda Shpiner/Sam Fisher
Gasthalter & Co.
(212) 257-4170
CIFC@gasthalter.com

U.K.
Martin Stott
Bulletin PR
+44 (0)115 907 8413