IBI Investment House, an investment house located in Israel, launched IBI CLO Strategies Fund, a fund investing in collateralized loan obligation (CLO) debt, equity and warehouses. The fund signed a cooperation agreement with CIFC Asset Management, 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.
“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,” Dave Lubetzky, CEO of IBI, said. “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 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. Huang and Andrews each possess more than two decades of experience in structured finance and investment banking and are supported by CIFC’s robust credit research team comprised of 27 analysts.
“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,” Steve Vaccaro, CEO and chief investment officer of CIFC, said. “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.”
