BNY Mellon, a worldwide financial services corporation, has boosted the cooperation between alternative credit expert CIFC and BNY Mellon Investment Management (BNY Mellon IM).

As a result of this expanded agreement, which builds on the long-standing connection between BNY Mellon and CIFC, clients in EMEA and APAC will have access to CIFC’s US direct lending strategy through BNY Mellon IM’s worldwide distribution platform.

Cathinka Wahlstrom, chief commercial officer at BNY Mellon stated: “CIFC has been a valued client of BNY Mellon’s for over 10 years. Starting with asset servicing, our ongoing partnership is expanding to include our investment management distribution platform and exemplifies how BNY Mellon’s market-leading suite of solutions can support our clients at every stage of their lifecycle. In our 240th year of business, we are proud to leverage centuries of expertise as we partner with clients to understand their unique objectives and innovate to expand their capabilities.”

John DiRocco, chief operating officer at CIFC shared: “We’re excited to evolve our relationship with BNY Mellon and see a huge opportunity to partner with the firm’s Investment Management business. With its global distribution footprint, local knowledge and experience working with firms like ours, BNY Mellon is an ideal partner as we look to the next stage of our international growth.”

The collaboration is launched during a period of time when the private credit market is tapping into both secular and cyclical growth trends; European institutions are under allocated, and investor demand is rising globally.

“Our clients continue to look for innovative investment solutions across both public and private markets, specifically U.S. private credit.” added Matt Oomen, global head of distribution at BNY Mellon Investment Management.

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“This partnership gives our clients exposure to the benefits US private credit has to offer, whilst enabling CIFC to access our extensive, deep investor relationships across the regions, as well as some of the largest pools of capital available.”