Money Management

CIFC co-CEO departs

Oliver Wriedt, co-CEO of CIFC, has decided to leave the firm "to pursue other opportunities," confirmed spokeswoman Amanda Klein in an email. She declined to disclose where he is going.

Effective immediately, Steve Vaccaro, co-founder, chief investment officer and co-CEO, is now sole CEO.

"CIFC is continuing to evolve to best meet our clients' needs through expanded product offerings, and I am pleased to continue to lead the team through our next phase of growth and development," Mr. Vaccaro said in a news release announcing the move. "We appreciate the hard work, contribution and vision that Oliver brought to CIFC over the past six years and wish him well in his future endeavors."

CIFC, a New York-based credit manager specializing in U.S. corporate and structured credit strategies, has roughly $18 billion in assets under management.