CIFC Corp. (Nasdaq: CIFC) saw its stock soar 22.32% Thursday after the No.1 ranked U.S. CLO manager by deals under management announced it had retained JPMorgan to explore a possible sale of the company.

Shares in the alternative asset manager, based in New York, were up $0.98 to $5.37, after revealing it was engaging JPMorgan “in exploring a range of strategic alternatives to enhance shareholder value and to capitalize on its industry-leading platform,” the company stated in a release. The alternatives include a sale of the company or a partial stake in the firm to an investor to accelerate growth and business diversification efforts.

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