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Berkshire Global Advisors acted as financial advisor to LBC Credit Partners
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  • Berkshire Global Advisors acted as financial advisor to LBC Credit Partners

  • Date: December 2021
  • Sector: Private Markets – Private Equity / Credit
  • Sub-Sector: Credit
  • Region: North America
  • Seller AUM: $3 Billion
  • Seller Details:
    LBC Credit Partners provides middle market and lower middle market financing solutions supporting sponsored and non-sponsored transactions throughout the U.S. across a broad range of industries. With over $3 billion of capital commitments, the firm has provided in excess of $8.2 billion to over 270 issuers throughout their 17-year history.

    Buyer Details:
    Founded in 2005, CIFC Asset Management LLC is a global credit specialist offering investment solutions across CLOs, corporate, structured, and opportunistic credit strategies, designed 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 $35 billion in assets and employs more than 130 professionals in the U.S. and Europe.

    Transaction Summary:
    The addition of LBC allows CIFC to further expand their credit platform across corporate, structured and opportunistic credit strategies. LBC has historically offered attractive, risk-adjusted and customizable opportunities to investors given the ability to achieve yield with relatively low-correlation and low-volatility to an overall portfolio. This strong track record coupled with robust sourcing capabilities, drive a robust deal pipeline and will help CIFC continue to generate attractive returns across the entire credit spectrum.

    As a result of the acquisition, LBC’s team and investment funds will become part of the CIFC platform as a subsidiary and continue to trade as LBC. LBC’s investment strategy, senior management, origination, underwriting and research, and portfolio management processes will remain unchanged. LBC will also retain its offices in the Philadelphia area and Chicago and four regional origination offices in New York, Cleveland, Atlanta, and Los Angeles.