CIFC, RBC Capital Markets, Appleby (Cayman) Ltd, Allen & Overy LLP, and Milbank LLP Contribute $225,000 to Support High-Achieving, Low-Income Students with Academic Preparation and Mentorship

NEW YORK, March 27, 2024 – CIFC Asset Management LLC (“CIFC”), an alternative credit specialist serving institutional investors globally with more than $42 billion in assets under management, today announced the third 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. For this donation, CIFC has partnered with the deal parties of its latest CLO, CIFC Funding 2024-II, including RBC Capital Markets, Appleby (Cayman) Ltd, Allen & Overy LLP, and Milbank LLP, to make a collective contribution of $225,000 to the TEAK Fellowship (“TEAK”). This donation is the second $225,000 financial contribution CIFC’s CLO Initiative for Change has made to TEAK, a free, outcomes-driven academic and career access program for students located in New York City, and builds upon CIFC’s existing partnership with the organization.

Founded in 1998 by Justine Stamen Arrillaga, TEAK empowers exceptional middle school, high school, and college students to achieve their full potential regardless of their financial situation. TEAK’s programming, which includes academic support, mentoring, college success planning, leadership training, career guidance and intensive after school and summer classes, helps to ensure students are well positioned to thrive in their high schools, graduate from college, pursue their professional goals, and positively impact the world. In 2022, CIFC partnered with TEAK to host a weeklong summer workshop at CIFC’s New York City office for prospective college students interested in pursuing a career in the financial services industry. For the past two summers, TEAK Changemaker Fellows have immersed themselves in the workshop, which included a series of educational presentations and team building activities focused on life at CIFC and career opportunities in investment management. This workshop, which CIFC will host again this summer, coupled with the CLO Initiative for Change’s second financial contribution to TEAK, will allow TEAK to continue to unlock access to outstanding education and transformative experiences for students.

Mark Sanofsky, Managing Director at CIFC and a member of the firm’s Diversity, Equity & Inclusion Committee, said, “Over the past two years, we have developed a strong partnership with TEAK, an outstanding organization that believes motivation and potential, not economic circumstances, should determine a student’s future. Through our summer workshops, we have seen first-hand the impact TEAK can have on the lives of New York City students and are proud to deepen our partnership with the organization. We would like to thank our CIFC Funding 2024-II deal parties for making this meaningful donation possible again this year.”

Chris Heron, Head of CLO Syndication and CLO Warehouse Financing at RBC Capital Markets, added,

“RBC is honored to continue to support TEAK in its mission to empower the next generation of leaders through educational equity. We are also grateful to CIFC for offering us the opportunity to participate in the CLO Initiative for Change consistently since the start of the philanthropic program three years ago."

Dr. Denise Brown-Allen, Executive Director at TEAK, concluded, “Since our founding, TEAK has sought to transform the lives of students and communities at large. To accomplish this goal, we have created programming that provides students access to life-changing learning experiences and opportunities to explore career paths that they may have never considered. We are thrilled to expand our partnership with CIFC and its CLO Initiative for Change and look forward to leveraging this generous donation to the benefit of our Fellows and their academic aspirations.”

Since launching in 2021, CIFC’s CLO Initiative for Change has donated nearly $600,000 to support organizations driving social, economic, or environmental change. Today’s donation to TEAK is the third donation made on behalf of the program and the second donation to TEAK by the program. Other beneficiaries of the program include Black Girls CODE.