This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Deerfield Capital Corp. And CIFC Close Merger

Stocks in this article: DFR

CHICAGO and NEW YORK, April 13, 2011 /PRNewswire/ -- Deerfield Capital Corp. (NASDAQ: DFR) and CIFC today announced the closing of their merger. The newly combined company will now operate under the name CIFC Deerfield Corp. (the "Company").  

Peter Gleysteen, Chief Executive Officer, stated, "The merger brings together a terrific array of capabilities, professionals and financial resources to better serve investors worldwide and meet the expectations of our shareholders. This merger is about growth and the unprecedented opportunities we see for asset management products, especially ones backed by senior secured corporate loans. In fact, one of the Company's first decisions is to proceed with a new CLO, and work is already underway as we look forward to growing the company."  

"CIFC Deerfield Corp. represents the consolidation of investment leaders with a focus toward increased value for stockholders and continuing asset management expertise for clients," added Jonathan Trutter, Vice Chairman. "We are gratified that, with an overwhelming vote in favor of this transaction, stockholders have indicated that they share our vision for the future."

About the Company

The Company is one of the largest and most established credit asset management firms globally, and its CIFC collateralized loan obligation (CLO) fund family has market-leading performance in the U.S.-managed CLO segment.  The Company currently serves over 250 institutional investors in North America, Europe, Asia and Australia, and manages approximately $15.4 billion of client assets on a pro forma basis as of January 1, 2011, including CLO assets under management of $11.6 billion.  Based in New York, the Company also has operations in Chicago.  

Safe Harbor Statement

Certain statements in this press release constitute forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These include statements regarding future results or expectations and can generally be identified by the use of words such as "believes," "anticipates," "expects," "estimates," "intends," "may," "plans," "projects," "will" and similar expressions, or the negative of these words. Such forward-looking statements are based on facts and conditions as they exist at the time such statements are made. Forward-looking statements are predictions as to future facts and conditions, the accurate prediction of which is difficult and involve the assessment of events beyond the control of the Company and its subsidiaries. Caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, including the risk that the assumptions on which the forward-looking statements are based prove to be inaccurate, actual results may differ materially from expectations or projections. For example, there can be no assurance that the Company will realize the expected benefits of the merger. For additional information regarding risks that may cause the Company's actual results to differ materially from those described in the forward-looking statements, see the Company's proxy statement with respect to the merger filed on March 15, 2011, Annual Report on Form 10-K for the year ended December 31, 2010, Quarterly Reports on Form 10-Q and other public filings with the Securities and Exchange Commission. Readers of this press release are cautioned to consider these risks and uncertainties and not to place undue reliance on any forward-looking statements. The Company does not undertake any obligation to update any forward-looking statement, whether written or oral, relating to matters discussed in this press release, except as may be required by applicable securities laws.  

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs