CIFC (formerly CIFC Deerfield) grazes on a green pasture of investments. Through subsidiaries, the specialty finance company invests in and manages client assets such as asset-backed securities, bank loans, and government securities. It offers some 30 investment products, including separately managed accounts and a private investment fund. CIFC has more than $11 billion of assets under management. Nearly 90% of its portfolio was once devoted to residential mortgage-backed securities (RMBS), but CIFC broadened its investment mix in the wake of the mortgage meltdown. In 2011 Deerfield Capital merged with Commercial Industrial Finance Corp. to create CIFC Deerfield. Shortly later, it changed its name to CIFC.
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| Income Statement | 2011 | 2010 | 2009 |
|---|---|---|---|
| Revenue | $-278.606 | $15.474 | $143.626 |
| Gross Profit | $0.0 | $0.0 | $0.0 |
| Operating Income | $-336.774 | $-80.86 | $64.333 |
| Net Income | $-32.592 | $85.921 | $66.898 |
| Diluted EPS | $-1.82 | $7.81 | $9.93 |
| Cash Flow (mil) | 2011 | 2010 | 2009 |
|---|---|---|---|
| Cash at the beginning of the year | $50.106 | $48.711 | $32.791 |
| Net Operating Cash | $460.998 | $256.635 | $-137.188 |
| Net Investing Cash | $191.259 | $63.002 | $197.434 |
| Net Financing Cash | $-666.404 | $-318.282 | $-44.306 |
| Net Change in Cash | $-14.133 | $1.395 | $15.92 |
| Cash at end of the year | $35.973 | $50.106 | $48.711 |
| Capital Expenditure | $-0.093 | $-1.673 | $-0.015 |
| Assets (mil) | 2011 | 2010 | 2009 |
|---|---|---|---|
| Current Assets | |||
| Cash | $35.973 | $50.106 | $48.711 |
| Net Receivables | $48.169 | $70.733 | $23.033 |
| Inventories | $ | $ | $ |
| Other Income Assets | $ | $ | $ |
| Asset Summary | |||
| Total Current Assets | $ | $ | $ |
| Net Fixed Assets | $1.697 | $1.921 | $6.505 |
| Other Noncurrent Assets | $8440.895 | $4890.901 | $713.717 |
| Total Assets | $8442.592 | $4892.822 | $720.222 |
| Liabilities (mil) | 2011 | 2010 | 2009 |
|---|---|---|---|
| Current Liabilities | |||
| Accounts Payable | $ | $ | $ |
| Short Term Debt | $ | $ | $ |
| Other Current Liabilities | $ | $ | $ |
| Liability Summary | |||
| Total Current Liabilities | $ | $ | $ |
| Long Term Debt | $7790.292 | $4005.815 | $413.329 |
| Other Noncurrent Liabilities | $532.672 | $461.455 | $317.572 |
| Total Liabilities | $8322.964 | $4467.27 | $730.901 |
| Stakeholder's Equity (mil) | 2011 | 2010 | 2009 |
|---|---|---|---|
| Equity | |||
| Preferred Stock Equity | $0.0 | $0.0 | $ |
| Common Stock Equity | $119.628 | $425.552 | $-10.679 |
| Equity Summary | |||
| Total Equity | $119.628 | $425.552 | $-10.679 |
| Shares Outstanding | 20.26 | 11.0 | 6.45 |