CIFC to buy middle-market lending platform

CIFC Asset Management has agreed to acquire LBC Credit Partners, a leading middle market direct lending platform with over $3 billion of assets under management.

The deal provides a direct lending business that complements and further diversifies CIFC’s multi-strategy credit platform. The $35 billion CIFC grew its asset base by $5 billion in 2021, not including this transaction.

The acquisition is expected to close by year-end and the terms were not disclosed in the company announcement.

LBC’s focus on U.S. middle market and lower middle market direct lending . . .

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