Primus Guaranty completed the sale of its third-party asset management subsidiary CypressTree Investment Management to Commercial Industrial Finance Corp. (CIFC). Terms of the transaction were not disclosed.

CypressTree both manages and subadvises around $2.6 billion of high yield and leveraged loan assets in seven CLOs and two other funds. The collateral management contracts for the CLOs and the two other funds were included in the sale.

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