CIFC Corp. (DFR) announced plans to enter into a 5 year strategic relationship with GE (GE) Capital's Bank Loan business. A commercial council comprised of senior members of both GE Capital and CIFC will be formed and meet regularly to assist in the exploration of business opportunities between the two firms, and to facilitate third party investment advisory referrals. GE Capital will receive 1M shares of CIFC common stock, warrants to purchase 2M shares of a newly created class of non-voting CIFC preferred stock, and $4.88M in cash from CIFC. The transaction is expected to close in September.
- GE Capital