European CLO PM rumoured to be joining CIFC from large asset manager

CIFC Asset Management looks to have made a major breakthrough in its bid to establish a European credit business with the $17 billion asset manager rumoured to be hiring Dan Robinson from Apollo Global Management. London-based Robinson has been at Apollo for the last three years, heading the firm’s European performing credit business. In this role he was managing European CLOs, among other leveraged loan and high yield bond strategies. Spokespeople for both Apollo and CIFC decline to comment on the matter.
 
The precise nature of Robinson’s role at CIFC is not yet known, but given his experience in European credit management he is likely to have a central role in CIFC’s London office. Prior to joining Apollo, Robinson had been at Oaktree Capital Management for 12 years. He covered bonds, loans and distressed assets during his time there and in his last few years he developed Oaktree’s European CLO platform.
 
CIFC opened its London office in May bringing in Muzinich’s Joshua Hughes as its head of European marketing. The launch of a debut 2.0 European CLO is set to be the first product launched by CIFC on the continent with Deutsche Bank responsible for putting this transaction together.
 
The forthcoming European CLO is not CIFC’s first experience of managing a euro-denominated deal. Back in 2010 CIFC (then known as Commercial Industrial Finance Corp) merged with US credit manager Deerfield Capital Management and this resulted in the new firm (which retained CIFC’s branding) acquiring Deerfield’s sole European CLO, Gillespie CLO I. The CLO was sold to BNP Paribas Asset Management in 2012 and subsequently redeemed in August 2015.
 
Today, more than three-quarters of CIFC’s AUM is locked in US CLOs. But in recent years it has sought to diversify its product range, adding a structured products division and, more recently, a high yield credit business.
 
By Sayed Kadiri