CIFC recruited three executives from Millennium Management to focus on U.S. high-yield bond investments within its corporate credit business, a spokeswoman confirmed.
Jason Horowitz was named head of U.S. high-yield bond investments at CIFC, while Brandon Hole has joined the U.S. high-yield bond team as managing director and Eric Seiden was named executive director. The positions are new.
Under Mr. Horowitz's leadership, the New York-based team will develop domestic high-yield investment strategies as part of CIFC's plan to expand its high-yield investment business. Mr. Horowitz reports to Steve Vaccaro, CEO and chief investment officer of CIFC, while Messrs. Hole and Seiden report to Mr. Horowitz.
Mr. Horowitz was a portfolio manager at Millennium Management for a long/short corporate credit hedge fund with an emphasis on U.S. high yield, while Mr. Hole was a senior analyst and Mr. Seiden was a trader. A Millennium spokesman could not be immediately reached to provide additional information.
CIFC has $26 billion in assets under management.