New York CLO manager moves to Volckerise deal

By Will Caiger-Smith
11 Sep 2014

One of the largest CLO managers in the US has sent out a proposal to make a legacy deal from 2012 complaint with the Volcker rule, according to people familiar with the situation.

In response to pressure from bank investors, who are prohibited from holding many legacy CLOs by the Volcker rule, CIFC Asset Management has contacted holders of CIFC Funding 2012-III with a Volckerisation proposal, the people said.

The targeted deal has a current balance of $516.1m and comes ...

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