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fabulous‘ former senior executives from Deutsche Bank and Goldman Sachs, agreed to acquire New York-based private debt investment manager CIFC LLC (NASDAQ: CIFC) for $333 million in cash, with backing from the Qatari royal family’s Supreme Universal Holdings Ltd. The move comes five weeks after the Qatari royal family’s Paramount Services Holdings and Supreme Universal Holdings, each raised their respective stakes in Deutsche Bank to nearly 5 percent, concurrently followed by the bank’s nomination of Stefan Simon, a partner at the German law firm Flick Gocke Schaumburg, to its supervisory board, heeding the Qatari shareholders’ advice. FAB’s offer price of $11.46 per share represents a premium of more than 60% over CIFC’s closing share price on August 19, 2016, and a premium of nearly 160% over the January 27, 2016 closing share price, the day prior to CIFC’s announcement of its pursuit of strategic alternatives. Founded in 2005 and based in New York, CIFC is a $14 billion private debt manager specializing in U.S. corporate loan strategies. CIFC has over 75 employees, including more than 30 dedicated investment professionals. The firm serves more than 200 institutional investors globally and is one of the largest managers of collateralized loan obligations (CLOs) in North America. FAB is a global alternative investment platform that focuses on originating, structuring and actively managing investments across all asset classes, sectors and geographies. FAB, which stands for Faissola, Ariburnu and Al-Bassam, was founded by the firm’s eponymous team of capital markets and investment management experts Michele Faissola, Dalinc Ariburnu and Nizar Al-Bassam. “We are pleased to have reached this agreement with FAB, which follows a thorough review of strategic and financial alternatives that generated interest from over a dozen suitors,” said CIFC chairman Jeffrey S. Serota. “CIFC is a leading private debt investment platform and one of the largest CLO managers in the industry and we are thrilled that this acquisition marks our first foray into the U.S. credit markets,” said FAB co-founding partner Michele Faissola. “CIFC’s highly experienced investment team, institutional infrastructure and blue-chip client base, make them an ideal partner for us as we look to access the U.S. market for our clients. Our clients are committed to capitalizing on both current and future investment opportunities in the U.S. and we view CIFC as our beachhead into these exciting opportunities.” “The depth and breadth of the team Steve and his partner, Oliver Wriedt, have built was a key consideration in our decision to choose the CIFC platform as our first major investment geared at accessing the U.S. market,” added FAB co-founding partner Nizar Al-Bassam. The deal has been approved by CIFC’s board of directors. Columbus Nova, CIFC’s majority shareholder, has agreed to vote its shares in favor of the transaction. The deal is subject to CIFC’s shareholders’ approval, regulatory approvals and other customary closing conditions, and is expected to close this calendar year. J.P. Morgan Securities LLC is serving as exclusive financial advisor to CIFC and Dechert LLP and Latham & Watkins LLP are serving as legal counsel. Moelis & Company LLC is acting as exclusive financial advisor to FAB, and Weil, Gotshal & Manges LLP and Ernst & Young LLP are serving as legal advisor and accounting & tax advisor, respectively. Before co-founding FAB, and until April 2016, Al-Bassam was Head of Central and Eastern Europe, Middle East, and Africa for Capital Markets & Treasury Solutions, Sales, Investment Banking and Commercial Banking Coverage at Deutsche Bank. He was a member of various governance and management committees at Deutsche Bank, including Global Capital Markets & Treasury Solutions Executive Committee, Global Emerging Markets Management Committee and the European Corporate Finance Management Committee. He also served on the boards of a number of companies, including Abraaj Capital, Deutsche Gulf Finance and Saffar Holdings. Ariburnu previously served as a senior partner and global co-head of fixed income, currency and commodity sales at Goldman Sachs, where he served as member of Goldman Sachs’ European Management Committee, Partnership Committee, and Securities Division Global Executive Committee. Before that, he was Global Head of Emerging Markets Group at Deutsche Bank and a member of the Securities Division Global Executive Committee. Faissola previously served as Head of Deutsche Asset & Wealth Management, one of the four divisions of the bank, managing total client assets of almost $1.3 trillion. He was also a member of the Deutsche Bank Group Executive Committee. In this role he supervised a team of over 6,000 people in 33 countries. He was also chairman of the DWS Asset Management (Frankfurt) and chairman of Deutsche Bank Switzerland. Photo: HH Sheikh Tamim bin Hamad Al Thani, Emir of Qatar. (Courtesy, Georgetown University)]]>