Columbus Nova Credit Investments Management S-4/A 8 Jun 16 Registration of securities issued in business combination transactions (amended) Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2016
Document Information [Line Items]
Entity Registrant Name	CIFC Corp.
Entity Central Index Key	1,313,918
Document Type	S-4/A
Document Period End Date	Mar. 31, 2016
Amendment Flag	true
Amendment Description	The files have been amended to account for the updated financial statements and footnotes included in the S-4 Registration Statement.
Entity Filer Category	Smaller Reporting Company

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents		$ 52,011	$ 57,968	$ 41,461	$ 59,290
Restricted cash and cash equivalents		1,694	1,694
Investment in subsidiaries		0	0
Investments		77,347	70,696
Receivables		8,925	7,075
Prepaid and other assets		2,817	1,973
Deferred tax assets, net		43,110	44,425		55,475
Equipment and improvements, net		4,562	4,866		5,194
Intangible assets, net		5,393	6,857		15,074
Goodwill		76,000	76,000
Subtotal		271,859	271,554
Assets		1,728,079	1,747,203
LIABILITIES
Due to brokers		0	61
Distributions Payable		8,670	0
Accrued and other liabilities		12,451	18,397
Contingent Liabilities		8,142	8,338
Long-term debt		156,237	156,161
Subtotal		185,500	182,957
Liabilities		1,551,611	1,568,401
EQUITY
Common Stock, Value, Issued		25	25
Treasury Stock, Value		435	0
Additional paid-in capital		994,766	992,419
Retained earnings (deficit)		(825,656)	(821,491)
Stockholders' Equity Attributable to Parent		168,700	170,953
TOTAL EQUITY		176,468	178,802	$ 198,558	$ 521,902
TOTAL LIABILITIES AND EQUITY		1,728,079	1,747,203
Consolidated Entities
ASSETS
Restricted cash and cash equivalents		80,592	94,018
Due from brokers		24,293	25,910
Investments		1,346,963	1,351,403
Receivables		4,185	4,109
Prepaid and other assets		187	209
Assets	[1]	1,456,220	1,475,649
LIABILITIES
Due to brokers		49,350	71,603
Accrued and other liabilities		229	193
Interest payable		4,474	5,090
Long-term debt		1,312,058	1,308,558
Liabilities	[1]	1,366,111	1,385,444
Consolidated Funds
EQUITY
Noncontrolling interests in Consolidated Funds (Note 2)		$ 7,768	$ 7,849
[1]	The assets of the Consolidated Entities would not be available to the Company's general creditors, and as a result, the Company does not consider them its assets. Additionally, the investors in the debt and residual interests of the Consolidated Entities have no recourse to the Company's general assets. Therefore, this debt is not the Company's obligation.

CONSOLIDATED BALANCE SHEETS (VI

CONSOLIDATED BALANCE SHEETS (VIE) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Restricted cash and cash equivalents		$ 1,694	$ 1,694
Investments		77,347	70,696
Receivables		8,925	7,075
Prepaid and other assets		2,817	1,973
Assets		1,728,079	1,747,203
Due to brokers		0	61
Accrued and other liabilities		12,451	18,397
Liabilities		1,551,611	1,568,401
Consolidated VIEs
Restricted cash and cash equivalents		80,592	94,018
Due from brokers		24,293	25,910
Investments		1,346,963	1,351,403
Receivables		4,185	4,109
Prepaid and other assets		187	209
Assets	[1]	1,456,220	1,475,649
Due to brokers		49,350	71,603
Accrued and other liabilities		229	193
Interest payable		4,474	5,090
Long-term Debt, at Fair Value		1,312,058	1,308,558
Liabilities	[1]	$ 1,366,111	$ 1,385,444
[1]	The assets of the Consolidated Entities would not be available to the Company's general creditors, and as a result, the Company does not consider them its assets. Additionally, the investors in the debt and residual interests of the Consolidated Entities have no recourse to the Company's general assets. Therefore, this debt is not the Company's obligation.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common shares issued	25,574,061	25,314,756
Common stock, shares outstanding	25,498,765	25,314,756
Treasury stock, shares	75,296	0
Common stock, shares authorized	500,000,000	500,000,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Revenues
Management & Incentive fees	$ 19,815	$ 21,614
Interest income from investments	933	2,607
Total net revenues	39,738	26,977
Expenses
Employee compensation and benefits	9,514	8,564
Share-based compensation	2,381	1,680
Professional Fees	2,072	1,926
General and administrative expenses	2,517	2,297
Depreciation and amortization	1,296	2,409
Impairment of intangible assets	531	281	$ 1,800
Interest expense	1,957	494
Operating Expenses	29,076	19,663
Other Income (Expense) and Gain (Loss)
Net gain (loss) on investments	271	1,193
Net gain (loss) on liabilities	(364)	(713)
Net other gain (loss)	(4,877)	1,455
Net income (loss)
Income (loss) before income taxes	5,785	8,769
Income Tax Expense (Benefit)	(1,278)	(3,087)	$ 25,239	$ 22,158
Net income (loss)	4,507	5,682
Net Income (Loss) Attributable to Parent	$ 4,505	$ 5,428
Earnings (loss) per share
Earnings Per Share, Basic	$ 0.18	$ 0.21
Earnings (loss) per share, Diluted	$ 0.17	$ 0.20
Weighted-average number of shares outstanding -
Weighted Average Number of Shares Outstanding, Basic	25,355,064	25,279,226
Weighted Average Number of Shares Outstanding, Diluted	25,809,402	26,572,416
Common Stock, Dividends, Per Share, Declared	$ 0.34	$ 0.10
Consolidated Entities
Revenues
Interest income	$ 18,990	$ 2,756
Expenses
Interest expense	8,420	744
Operating Expenses	388	1,268
Other Income (Expense) and Gain (Loss)
Net gain (loss) on investments	2,600	2,797
Net gain (loss) on liabilities	(7,384)	(2,260)
Net Gain (Loss) on other investments and derivatives	0	438
Net income (loss)
Net (income) loss attributable to noncontrolling interest in Consolidated Entities	$ (2)	$ (254)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Net income (loss)	$ 4,507	$ 5,682
Other comprehensive income (loss)	0	0
Comprehensive income (loss)	4,507	5,682
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	4,505	5,428
Consolidated Entities
Net (income) loss attributable to noncontrolling interest in Consolidated Entities	$ (2)	$ (254)
CIFC LLC
Net income (loss)			$ 965	$ (12,323)
Other comprehensive income (loss)			0	0
Comprehensive income (loss)			965	(12,323)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent			334	8,381
CIFC LLC | Consolidated Entities
Net (income) loss attributable to noncontrolling interest in Consolidated Entities			(631)	20,704
CIFC Corp
Net income (loss)			1,015	(12,323)
Other comprehensive income (loss)			0	0
Comprehensive income (loss)			1,015	(12,323)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent			384	8,381
CIFC Corp | Consolidated Entities
Net (income) loss attributable to noncontrolling interest in Consolidated Entities			$ (631)	$ 20,704

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY Statement - USD ($) $ in Thousands	Total	CIFC LLC	Common Stock [Member]	Treasury Stock	Common stock par [Member]	Treasury stock Par [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Retained Earnings, Appropriated [Member]
Beginning Balance at Dec. 31, 2013		$ 151,260
Net income (loss)		8,381
Share-based compensation, net		2,697
Exercise of options		617
Dividends, Cash		(9,218)
Ending Balance at Dec. 31, 2014	$ 521,902	176,320			$ 25	$ (914)	$ 988,904	$ (811,695)	$ 210,818	$ 134,764
Treasury stock, shares at Dec. 31, 2014				(130,000)
Ending Balance, Common shares at Dec. 31, 2014			25,193,000
Adoption of ASU 2015-02 (Note 3)	(332,270)								(204,393)	(127,877)
Adoption of ASU 2014-13 (Note 3)	(6,887)									(6,887)
Net income (loss)	5,682	5,428						5,428	254	0
Share-based compensation, net	1,415	1,415					1,415
Exercise of options	129	129					129
Share-based compensation, net			83,000
Exercised options Shares			25,000
Contribution from noncontrolling interests	12,100								12,100
Distributions to noncontrolling interests	(970)								(970)
Dividends, Cash	(2,543)	(2,543)						(2,543)
Ending Balance at Mar. 31, 2015	198,558	180,749			25	(914)	990,448	(808,810)	17,809	0
Treasury stock, shares at Mar. 31, 2015				(130,000)
Ending Balance, Common shares at Mar. 31, 2015			25,301,000
Beginning Balance, Common shares at Dec. 31, 2014			25,193,000
Treasury stock, shares at Dec. 31, 2014				(130,000)
Beginning Balance at Dec. 31, 2014	$ 521,902	176,320			25	(914)	988,904	(811,695)	210,818	134,764
Adoption of ASU 2015-02 (Note 3)									(204,393)	(127,877)
Adoption of ASU 2014-13 (Note 3)										(6,887)
Net income (loss)		334
Repurchases of common shares		(1,151)
Share-based compensation, net		5,286
Exercise of options		(56)
Dividends, Cash		(10,130)
Ending Balance at Dec. 31, 2015	$ 178,802	170,953			25	0	992,419	(821,491)	7,849	0
Treasury stock, shares at Dec. 31, 2015	0			0
Ending Balance, Common shares at Dec. 31, 2015			25,315,000
Net income (loss)	$ 4,507	4,505						4,505	2
Repurchases of common stock, shares			0	75,000
Repurchases of common shares	(435)	(435)				(435)
Share-based compensation, net	2,135	2,135					2,135
Exercise of options	212	212					212
Share-based compensation, net			209,000
Exercised options Shares			50,000
Distributions to noncontrolling interests	(83)								(83)
Dividends, Cash	(8,670)	(8,670)						(8,670)
Ending Balance at Mar. 31, 2016	$ 176,468	$ 168,700			$ 25	$ (435)	$ 994,766	$ (825,656)	$ 7,768	$ 0
Treasury stock, shares at Mar. 31, 2016	75,296			75,000
Ending Balance, Common shares at Mar. 31, 2016			25,574,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 4,507	$ 5,682
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization of debt issuance costs and other	76	22
Share-based compensation	2,381	1,680
Net (gain) loss on investments and contingent liabilities / other (gain) loss	93	(480)
Depreciation and amortization	1,296	2,409
Impairment of intangible assets	531	281	$ 1,800
Deferred income tax expense (benefit)	1,315	(150)
Excess tax benefits from share-based payment arrangements	230	(8)
Net gain (loss) on liabilities	364	713
Changes in operating assets and liabilities:
Due from brokers	0	(974)
Receivables	(1,850)	461
Prepaid and other assets	(848)	(1,003)
Due to brokers	(61)	6,245
Accrued and Other Liabilities	(5,461)	(6,954)
Net cash provided by (used in) operating activities	(7,237)	(10,351)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of investments	(16,134)	(13,193)
Sales of investments	9,712	35,301
Purchases of equipment and improvements	(61)	(403)
Net cash provided by (used in) investing activities	6,943	(33,168)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchases of common shares	(435)	0
Proceeds from the exercise of options	241	121
Payments for tax from the delivery of restricted stock units	(45)	(265)
Payments on contingent liabilities	(999)	(1,559)
Excess tax benefits from share-based payment arrangements	(230)	8
Net cash provided by (used in) financing activities	(5,663)	25,690
Net increase (decrease) in cash and cash equivalents	(5,957)	(17,829)
Cash and cash equivalents	57,968	59,290	59,290
Cash and cash equivalents	52,011	41,461	$ 57,968
SUPPLEMENTAL DISCLOSURE:
Cash paid for interest	949	481
Cash paid for income taxes	2,182	1,500
Exercise of share options and RSUs	36	32
Consolidated Entities
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Net (gain) loss on investments	(2,600)	(2,797)
Net gain (loss) on liabilities	7,384	2,260
Net other (gain) loss	0	(438)
Changes in operating assets and liabilities:
Due from brokers	1,616	10,348
Purchases of investments	(114,723)	(143,714)
Sales of investments	121,766	69,139
Receivables	(52)	(438)
Due to brokers	(22,253)	48,068
Accrued and Other Liabilities	32	0
Interest payable	(616)	10
CASH FLOWS FROM INVESTING ACTIVITIES:
Change in restricted cash and cash equivalents	13,426	(54,873)
CASH FLOWS FROM FINANCING ACTIVITIES:
Contributions from noncontrolling interests	0	12,100
Distributions to noncontrolling interests	(83)	(970)
Proceeds from issuance of long-term debt	3,830	84,100
Payments made on long-term debt	(7,942)	(67,845)
SUPPLEMENTAL DISCLOSURE:
Cash paid for interest	17,196	1,375
Deconsolidation of net assets	0	(22,578)
Paid-in-Kind Interest	$ 15	$ 26

ORGANIZATION AND BUSINESS

ORGANIZATION AND BUSINESS	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	Organization and Business Organization — CIFC LLC (together with its subsidiaries, "CIFC" or the "Company") is a Delaware limited liability company headquartered in New York City. The Company is a private debt manager specializing in secured U.S. corporate loan strategies. The Company's primary business is to provide investment management services for institutional investors, including pension funds, hedge funds, asset management firms, banks, insurance companies and other types of institutional investors around the world. Fee Earning Assets Under Management (“Fee Earning AUM” or “AUM”) refers to the principal balance, net asset value or value of assets managed by the Company on which the Company earns management and/or incentive fees. The Company's AUM is primarily comprised of Collateralized Loan Obligations ("CLOs"). In addition, the Company manages credit funds and other loan-based products (together, "Non-CLO products" and together with CLOs, "Funds"). The Company manages these credit products through opportunistic investment strategies where the Company seeks to generate current income and/or capital appreciation, primarily through senior secured corporate loan investments (“SSCLs”) and, to a lesser extent, other investments. The Company also manages Collateralized Debt Obligations (“CDOs”), which it does not expect to issue in the future. The Company has three primary sources of revenue: management fees, incentive fees and investment income. Management fees are generally based on a percentage of AUM of the Funds. Incentive fees are earned based on the performance of the Funds. Investment income represents interest income and realized/unrealized gains and losses on investments in the products sponsored by the Company and third parties. On December 31, 2015, CIFC Corp., the formerly publicly traded entity, completed a series of transactions (the "Reorganization Transaction") to become a subsidiary of CIFC LLC. The series of transactions changed the Company's top-level form of organization from a corporation to a limited liability company. As of January 1, 2016, the Company was taxed as a partnership. The Reorganization Transaction was a transaction between entities under common control; therefore, the prior year comparative Condensed Consolidated Financial Statements include the Consolidated Balance Sheet, Statement of Operations, Comprehensive Income (Loss), Equity and Cash Flows as of and for the three months ended March 31, 2015 of CIFC Corp.	Organization and Business Organization —On December 31, 2015, CIFC Corp. completed a series of transactions (or the "Reorganization Transaction") to become a subsidiary of CIFC LLC, a publicly traded limited liability company ("PTP"). CIFC LLC (together with its subsidiaries, "CIFC" or the "Company") is a Delaware limited liability company headquartered in New York City. The series of transactions changed the Company's top-level form of organization from a corporation to a limited liability company. This allows the Company to be taxed as partnership rather than a corporation for U.S. Federal tax purposes and allows it to minimize entity-level taxation on investment income. As part of the Reorganization Transaction, CIFC Corp. distributed ownership of certain of its subsidiary entities holding certain investment assets to CIFC LLC and retained non-voting Series A Preferred Units ("Preferred Units") issued by certain wholly-owned subsidiaries of CIFC LLC (see Note 16 ). Each share of common stock of CIFC Corp. outstanding immediately prior to the Reorganization Transaction was converted into the right to receive one common share representing a limited liability company interest in CIFC LLC. Further, CIFC LLC assumed all obligations under the CIFC Corp. 2011 Stock Option and Incentive Plan (the "Stock Incentive Plan"). All the terms and conditions that were in effect immediately prior to the Reorganization Transaction under each outstanding equity award assumed by CIFC LLC will continue in full force and effect after the Reorganization Transaction, except that the interests issuable under each such award will be common shares of CIFC LLC instead of common stock of CIFC Corp. CIFC Corp. remains the issuer and primary obligor of our Junior Subordinated Notes and the Senior Notes (see below). Further, CIFC LLC and certain other subsidiaries of CIFC LLC have provided full and unconditional guarantees of the obligations of CIFC Corp. under the Junior Subordinated Notes and the Senior Notes. In 2013, DFR Holdings LLC ("DFR Holdings") purchased 10,090,909 shares of the Company's outstanding common shares and 2,000,000 warrants. In 2014, DFR Holdings exercised its right to convert $25.0 million aggregate principal amount of convertible notes into 4,132,231 of common shares (see Note 11 , 12 and 16 ). As of December 31, 2015 , DFR Holdings owned approximately 18.8 million of the Company’s common shares which is approximately 74% of the Company's outstanding shares (approximately 70% on a fully diluted basis). Business —The Company is a private debt manager specializing in secured U.S. corporate loan strategies. The Company's primary business is to provide investment management services for institutional investors, including pension funds, hedge funds, asset management firms, banks, insurance companies and other types of institutional investors around the world. Fee Earning Assets Under Management (“Fee Earning AUM” or “AUM”) refers to the principal balance, net asset value or value of assets managed by the Company on which the Company earns management and/or incentive fees. The Company's AUM is primarily comprised of Collateralized Loan Obligations ("CLOs"). In addition, the Company manages credit funds and other loan-based products (together, "Non-CLO products" and together with CLOs, "Funds"). The Company manages these credit products through opportunistic investment strategies where the Company seeks to generate current income and/or capital appreciation, primarily through senior secured corporate loan investments (“SSCLs”) and, to a lesser extent, other investments. The Company also manages Collateralized Debt Obligations (“CDOs”), which it does not expect to issue in the future. Management internally views and manages the business as one reportable segment. The Company operates as a single operating segment as managed by CIFC's Co-Presidents, who are considered the Company's chief operating decision makers ("CODM"). The CODM bears the ultimate responsibility for, and is actively engaged in, the allocation of resources and the evaluation of the Company's operating and financial results. The Company has concluded that CIFC has a single operating segment based on the following: • The Company is managed under a functionally-based organizational structure with the head of each function reporting directly to the CODM; • The Company's CODM allocates resources and makes other operating decisions based on specific business opportunities; and • The Company has an integrated investment process through which the Investment Research, Portfolio Management and Trading teams support all the products that the Company offers. The Company has three primary sources of revenue: management fees, incentive fees and investment income. Management fees are generally based on a percentage of AUM of the Funds. Incentive fees are earned based on the performance of the Funds. Investment income represents interest income and realized/unrealized gains and losses on investments in the products sponsored by us and third parties.

BASIS OF PRESENTATION AND PRINC

BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation Basis of Presentation —The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in conformity with the instructions to Form 10-Q and Article 10-01 of Regulation S-X for interim financial statements. Accordingly, they do not include all information and footnotes required by generally accepted accounting principles in the United States of America ("GAAP") for complete financial statements. The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Management believes that estimates utilized in the preparation of the Condensed Consolidated Financial Statements are prudent and reasonable. Actual results could differ from those estimates and such differences could be material. These accompanying unaudited Condensed Consolidated Financial Statements and related Notes should be read in conjunction with the Consolidated Financial Statements and related Notes included in the 2015 Annual Report. In the opinion of management, the accompanying Condensed Consolidated Financial Statements contain all adjustments, consisting of normal recurring adjustments necessary for a fair statement of the results for the interim periods presented. Such operating results may not be indicative of the expected results for any other interim periods or the entire year. Certain prior year amounts in the Condensed Consolidated Financial Statements and the related notes have been reclassified to conform to current period presentation. During late 2015, we adopted certain Accounting Standard Updates ("ASU") issued by the Financial Accounting Standards Board (FASB) such as the deconsolidation of certain CLOs and Funds (or ASU 2015-02) and the valuation of financial assets and liabilities of Consolidated CLOs (or ASU 2014-13) which were applied on a modified retroactive basis. As such, the Condensed Consolidated Financial Statements and the related notes for the three months ended March 31, 2015 have been re-presented to reflect the impact of these adoptions (see the 2015 Annual Report). Further, other reclassified items include a detailed break out of line items for net results of Consolidated Entities, Employee compensation and benefits, Share-based compensation, and General and administrative expenses on the Condensed Consolidated Statements of Operations as well as Contributions from and Distributions to noncontrolling interests on the Condensed Consolidated Statements of Cash Flows and Condensed Consolidated Statements of Equity. Principles of Consolidation —The Condensed Consolidated Financial Statements include the financial statements of CIFC and its wholly-owned subsidiaries, the entities in which the Company has a controlling interest ("Consolidated Funds") and VIEs for which the Company is deemed to be the primary beneficiary (together with Consolidated Funds, the "Consolidated Entities"). All intercompany balances and transactions have been eliminated upon consolidation. This consolidation, particularly with respect to the Consolidated Entities, significantly impacts the Company's Condensed Consolidated Financial Statements. Consolidated Entities —Consolidated Entities includes the operating results of the Consolidated Funds and the Consolidated VIEs. As of both March 31, 2016 and December 31, 2015 , the Company held $81.8 million of investments in its Consolidated Entities. Consolidated VOEs —The Company consolidates entities in which it has a controlling voting interest. As of March 31, 2016 and December 31, 2015 , the Company did not consolidate any entities under the voting interest model. Consolidated VIEs —The Company also consolidates variable interest entities in which it is deemed the primary beneficiary. These Consolidated VIEs generally include certain CLOs (collectively, the "Consolidated CLOs"), warehouses, loan investment products, and other similar legal entities. Tactical Income Fund —The Company invests in and manages an open-end credit fund that invests primarily in second-lien loans (the "Tactical Income Fund"). The Company consolidated the Tactical Income Fund. Under the consolidation rules, limited partnerships where investors lack the right to remove the general partners are deemed VIEs. The Company is deemed the primary beneficiary as it cannot be removed as the investment manager and has a significant financial interest in the fund. As of March 31, 2016 and December 31, 2015 , the Company held an investment of $33.6 million and $33.2 million , respectively, and for both periods the limited partners held $7.8 million . Limited partners' interests were reported in "Noncontrolling interests in Consolidated Funds" on the Condensed Consolidated Balance Sheet. Consolidated CLOs and Other —As of March 31, 2016 and December 31, 2015 , the Company consolidated 2 CLOs and 2 credit funds (including Tactical Income Fund). Warehouses — From time to time, the Company will create special purpose vehicles ("SPVs") to warehouse SSCLs in advance of sponsoring new CLOs or other funds. The Company may contribute equity to the new SPVs which are typically levered three to five times depending on the terms agreed to with the warehousing counterparties. When the related CLO or Fund is sponsored, typically around three to nine months later, the warehouse is “terminated,” with it concurrently repaying the related financing and returning to the Company its equity contribution, net of gains and losses, if any. Since the launch of the Warehouse Fund (see below), the Company's direct investments in warehouses it manages have been limited. As of both March 31, 2016 and December 31, 2015 , the Company did not consolidate any warehouses but held variable interests in 3 warehouses for which it was not deemed to be the primary beneficiary. Unconsolidated VOEs — Warehouse Fund — In December 2014, the Company launched a closed-end structured credit fund that invests primarily in equity interests of warehouses managed by CIFC (the "Warehouse Fund"). As of March 31, 2016 and December 31, 2015 , the carrying value of the Company's investment, as the general partner of the fund, was $14.7 million and $13.9 million , respectively. Co-Investment Fund — During 2013, the Company launched a closed-end structured credit fund that invests primarily in residual tranches of CLOs and, to a lesser extent, warehouses, managed by CIFC (the "Co-Investment Fund"). As of March 31, 2016 and December 31, 2015 , the carrying value of the Company's investment, as the general partner of the fund, was $11.8 million and $12.1 million , respectively. The limited partners of both the Warehouse Fund and the Co-Investment Fund may remove the general partner's presumption of control, and as such, the Company did not consolidate these funds. The Company's investments in these funds were recorded in "Investments" on the Company's Condensed Consolidated Balance Sheets. Unconsolidated VIEs— Senior Secured Corporate Loan Fund —The Company invests in and manages an open-end credit fund that invests in performing U.S. SSCLs (the "Senior Secured Corporate Loan Fund") to provide capital appreciation and risk-adjusted returns to its investors. The Company does not consolidate the Senior Secured Corporate Loan Fund. Under the consolidation rules, limited partnerships where investors lack the right to remove the general partners, are deemed VIEs, however, the Company is not deemed the primary beneficiary as it does not have a significant financial interest in the fund. As of March 31, 2016 and December 31, 2015 , the carrying value of the Company's investment was $5.5 million and $5.4 million , respectively. As of March 31, 2016 , the Company had variable interests in 26 CLOs, 8 CDOs, and 2 Non-CLO products (including the Senior Secured Corporate Loan Fund), which the Company managed, that were not consolidated (collectively the "Unconsolidated VIEs") as the Company was not deemed to be the primary beneficiary of the Unconsolidated VIEs. As of December 31, 2015 , the Company's unconsolidated VIEs included 28 CLOs, 8 CDOs and 2 Non-CLO products (including the Senior Secured Corporate Loan Fund). The Company's maximum exposure to loss on Unconsolidated VIEs includes its investment, management fee receivables and future management fees collectible by the Company. As of March 31, 2016 and December 31, 2015 the Company invested $39.5 million and $29.0 million , respectively, in Unconsolidated VIEs and the Company's management fee receivables were $4.5 million and $4.1 million , respectively.	Basis of Presentation and Principles of Consolidation Basis of Presentation —The Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP"). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Management believes that estimates utilized in the preparation of the Consolidated Financial Statements are prudent and reasonable. Actual results could differ from those estimates and such differences could be material. Certain prior year amounts in the Consolidated Financial Statements and the related notes have been re-presented to conform to current period presentation and provide additional details. These items include detailed break out of line items for Net Results of Consolidated Entities (Note 6 ), Employee compensation and benefits, share-based compensation, and General and administrative expenses on the Consolidated Statements of Operations as well as Contributions from and Distributions to noncontrolling interests on the Consolidated Statements of Cash Flows and Consolidated Statements of Equity. The Reorganization Transaction was a transaction between entities under common control, therefore, the Company included in this Form 10-K the Consolidated Financial Statements of both CIFC LLC and CIFC Corp. For the Consolidated Financial Statements of CIFC LLC, the prior year comparative Consolidated Financial Statements includes the Consolidated Balance Sheet, Statement of Operations, Comprehensive Income (Loss), Equity and Cash Flows as of and for the year ended December 31, 2014 of CIFC Corp. Principles of Consolidation —The Consolidated Financial Statements include the financial statements of CIFC and its wholly-owned subsidiaries, the entities in which the Company has a controlling interest ("Consolidated Funds") and variable interest entities ("VIEs" or "Consolidated VIEs") for which the Company is deemed to be the primary beneficiary (together with Consolidated Funds, the "Consolidated Entities"). The Company adopted the amendments of Accounting Standard Update "ASU" 2015-02, Consolidation (Topic 810) - Amendments to the Consolidation Analysis ("ASU 2015-02") (see Note 3 ). All intercompany balances and transactions have been eliminated upon consolidation. This consolidation, particularly with respect to the Consolidated Entities, significantly impacts the Company's Consolidated Financial Statements. Consolidated Entities —As a result of the Reorganization Transaction (Notes 1 & 16 ), disclosures below relate to CIFC LLC as of December 31, 2015 and 2014 and CIFC Corp. as of December 31, 2014 . Consolidated Entities includes the operating results of the Consolidated Funds and the Consolidated VIEs. As of December 31, 2015 and 2014 , the Company held $81.8 million and $62.6 million , respectively, of investments in its Consolidated Entities. Consolidated VOEs —The Company consolidates entities in which it has a controlling voting interest. As of December 31, 2015 , the Company did not consolidate any entities under the voting interest model. As of December 31, 2014, the Company had consolidated the Tactical Income Fund and the Senior Secured Corporate Loan Fund under this model. Effective January 1, 2015, pursuant to the adoption of ASU 2015-02, our consolidation assessment changed. See below & Note 3 . Consolidated VIEs —The Company also consolidates variable interest entities in which it is deemed the primary beneficiary. These Consolidated VIEs generally include certain CLOs (collectively, the "Consolidated CLOs"), warehouses, loan investment products, and other similar legal entities (see Note 3 for further details). Tactical Income Fund —The Company invests in and manages an open-end credit fund that invests primarily in second-lien loans (the "Tactical Income Fund"). Under the new rules, limited partnerships where investors lack the right to remove the general partners, are deemed VIEs. The Company is deemed the primary beneficiary as it cannot be removed as the investment manager and has a significant financial interest in the fund. As of December 31, 2015 and 2014 , the Company held an investment of $33.2 million and $11.0 million , respectively, and the limited partners held $7.8 million and $6.5 million , respectively. Limited partners' interests were reported in "Noncontrolling interests in Consolidated Funds" on the Consolidated Balance Sheet. Consolidated CLOs and Other —As of December 31, 2015 , the Company consolidated 2 CLOs and 2 credit funds (including Tactical Income Fund). As of December 31, 2014 , the Company consolidated 31 CLOs. See Note 4 . The adoption of ASU 2015-02, resulted in the deconsolidation of 30 CLOs as of January 1, 2015. Warehouses — From time to time, the Company will create special purpose vehicles ("SPVs") to warehouse SSCLs in advance of sponsoring new CLOs or other funds. The Company may contribute equity to the new SPVs which are typically levered three to five times depending on the terms agreed to with the warehousing counterparties. When the related CLO or Fund is sponsored, typically around three to nine months later, the warehouse is “terminated,” with it concurrently repaying the related financing and returning to the Company its equity contribution, net of gains and losses, if any. Since the launch of the Warehouse Fund (see below), the Company's direct investments in warehouses it manages have been limited. During the year ended December 31, 2015 , the Company consolidated and deconsolidated two warehouses. During the year ended December 31, 2014 , the Company consolidated seven warehouse(s) and deconsolidated six warehouse(s). As of December 31, 2015 , the Company did not consolidate any warehouse, and as of December 31, 2014 , the company consolidated one warehouse. Unconsolidated VOEs — Warehouse Fund — In December 2014, the Company launched a closed-end structured credit fund that invests primarily in equity interests of warehouses managed by CIFC (the "Warehouse Fund"). As of December 31, 2015 and 2014 , the carrying value of the Company's investment, as the general partner of the fund, was $13.9 million and $10.6 million , respectively. Co-Investment Fund — During 2013, the Company launched a closed-end structured credit fund that invests primarily in residual tranches of CLOs and, to a lesser extent, warehouses, managed by CIFC (the "Co-Investment Fund"). As of December 31, 2015 and 2014 , the carrying value of the Company's investment, as the general partner of the fund, was $12.1 million and $16.6 million , respectively. The limited partners of both the Warehouse Fund and the Co-Investment Fund may remove the general partner's presumption of control, and as such, the Company did not consolidate these funds. The adoption of ASU 2015-02, did not change our consolidation conclusion. The Company's investments in these funds were recorded in "Investments" on the Company's Consolidated Balance Sheets. Unconsolidated VIEs— Senior Secured Corporate Loan Fund —The Company invests in and manages an open-end credit fund that invests in U.S. performing senior secured corporate loans (the "Senior Secured Corporate Loan Fund") to provide capital appreciation and risk-adjusted returns to its investors. Pursuant to the adoption of ASU 2015-02, the Company deconsolidated this fund on a modified retroactive basis (or as of January 1, 2015). Under the new rules, limited partnerships where investors lack the right to remove the general partners, are deemed VIEs. The Company is not deemed the primary beneficiary because it does not have a significant financial interest in the fund. As of December 31, 2015 , the Company held an investment of $5.4 million in the fund which was reported in "Investments" on the Company's Consolidated Balance Sheet. As of December 31, 2014 , the Company held an investment of $5.2 million and the limited partners held an investment of $204.5 million . Limited partners' interests were reported in "Noncontrolling interests in Consolidated Funds" on the Consolidated Balance Sheet. As of December 31, 2015 , the Company had variable interests in 28 CLO, 8 CDOs, and 2 Non-CLO products (including the Senior Secured Corporate Loan Fund), which the Company managed, that were not consolidated (collectively the "Unconsolidated VIEs") as the Company was not deemed to be the primary beneficiary of the Unconsolidated VIEs. As of December 31, 2014 , the Company's unconsolidated VIEs included 1 CLO, 8 CDOs and 4 Non-CLO products. The adoption of ASU 2015-02, resulted in the deconsolidation of 30 CLOs as of January 1, 2015. The Company's maximum exposure to loss on Unconsolidated VIEs includes its investment, management fee receivables and future management fees collectible by the Company. As of December 31, 2015 , the Company invested $29.0 million in Unconsolidated VIEs and the Company's management fee receivables were $4.1 million . As of December 31, 2014 , the Company had no investments in its Unconsolidated VIEs and the Company's management fee receivables were $0.3 million .

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING UPDATES	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Summary of Significant Accounting Policies and Recent Accounting Updates As of March 31, 2016 , the Company's significant accounting policies, which are detailed in the 2015 Annual Report have not changed. Recent Accounting Updates In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718) ("ASU 2016-09") , which is intended to simplify several aspects of the accounting for share-based payment award transactions. Specifically, ASU 2016-09 aims to simplify the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The guidance will be effective for fiscal years beginning after December 15, 2016, including interim periods within that year. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) ("ASU 2016-02") , to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of 12 months) on the balance sheet as a lease liability and a right-of-use asset (as defined). ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with earlier application permitted. Upon adoption, the lessee will apply the new standard retrospectively to all periods presented or retrospectively using a cumulative effect adjustment in the year of adoption. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606), Deferral of the Effective Date ("ASU 2015-14") . The ASU amends the effective date of ASU 2014-09 for all entities by one year. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09") , which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The standard clarifies the required factors that an entity must consider when recognizing revenue and also requires additional disclosures. With the issuance of ASU 2015-14 the new effective date for the Company is January 1, 2018. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15") . The guidance will explicitly require management to assess an entity's ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. The new standard will be effective in the first annual period ending after December 15, 2016. Earlier adoption is permitted. The Company does not believe this guidance will have a material impact on its Consolidated Financial Statements.	Summary of Significant Accounting Policies and Recent Accounting Updates Consolidation — VIEs —In February 2015, the Financial Accounting Standards Board ("FASB") issued ASU 2015-02. The amendments changed the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. As of September 30, 2015, the Company elected to early adopt this guidance on a modified retroactive basis (as of January 1, 2015) (see below). Under the consolidation guidelines, the Company evaluates whether (a) it holds a variable interest in an entity, (b) the entity is a variable interest entity ("VIE") and (c) the Company is the primary beneficiary ("PB") of the VIE. An entity is a VIE if it meets any of the following criteria: total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated support; holders of equity investment at risk (as a group) lack the power to direct the activities of the entity that significantly impact economic performance or the obligation to absorb losses or right to receive residual returns of the entity; and voting rights of some investors are disproportionate to their obligation to absorb losses/receive returns and substantially all of the activities are on behalf of the investor with disproportionately few voting rights. Further a reporting entity is deemed to be the PB if (i) it has the power to direct the activities of the entity that most significantly impact the economic performance ("power criteria") and (ii) it holds a controlling financial interest ("economic criteria"). Generally, the Company determines whether it is the PB of a VIE through a qualitative assessment; however, when deemed necessary, a quantitative assessment may also be performed. This consolidation assessment is performed upon inception of the relationship and reconsidered when certain events have occurred. Prior to the adoption of ASU 2015-02, incentive or performance fees received by the Company for its investment management services were considered variable interests. Pursuant to the adoption of ASU 2015-02, incentive or performance fees that are customary and commensurate of the level of services provided, and where the Company does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, would not be considered variable interests. As such, certain CLOs, CDOs and warehouses, where the Company held direct interests or indirect interests through related parties, were considered variable interests and a consolidation analysis was performed. Further, CLOs, CDOs and warehouses generally meet the VIE criteria as they have minimal equity at risk. For CLOs, the Company's investment management services meet the power criteria of the PB consideration. In certain cases, when it was determined that the Company's investment in the CLO was significant, the Company met the economic criteria and consolidated the CLO. To determine significance, the Company evaluated its right to receive and obligation to absorb the VIE's expected future gains and losses. The expected future gains and losses of the VIE are determined based on an internally developed discounted cash flows model that utilizes both observable and unobservable inputs. Significant inputs to the models include the structure of the VIE and estimates related to loan default rates, recovery rates, projected call dates, prepayment rates and discount rates. As of December 31, 2015 and January 1, 2015 (adoption date), the Company consolidated 2 and 1 CLO(s), respectively, for which it was deemed to be the PB. For warehouses, where the Company's investment management services meet the power criteria and where the Company contributes significant equity to a warehouse, the Company may meet both the power and economic criterion and consolidate the warehouse. As of December 31, 2015 , the Company did not consolidate any warehouses and as of January 1, 2015 (adoption date), the Company consolidated 1 warehouse. However, during the twelve months ended December 31, 2015 , the Company consolidated 2 warehouses which were opened and closed during the reporting period. Upon adoption of the new consolidation rules, the granting of substantive kick-out rights is a key consideration in determining whether a limited partnership, or similar entity, is a VIE and whether or not that entity should be consolidated. Consequently, the adoption of ASU 2015-02, resulted in the deconsolidation of the Senior Secured Corporate Loan Fund (see Note 2 ). Entities that do not qualify as VIEs are generally assessed for consolidation as voting interest entities under the voting interest model (see below). Performance of these consolidation assessments requires the exercise of judgment. Consolidation — VOEs —The Company consolidates all entities that it controls through a majority voting interest (or "VOE"). Appropriated Retained Earnings (Deficit) of Consolidated VIEs— Prior to the adoption of ASU 2014-13 (see below), appropriated retained earnings (deficit) of Consolidated VIEs represented the excess fair value of the Consolidated CLO or CDOs' assets over the Consolidated CLO or CDOs' liabilities upon initial consolidation and was subsequently adjusted each reporting period for the net income (loss) attributable to the Consolidated VIEs. Non-Controlling Interests in Consolidated Funds— “Noncontrolling interests in Consolidated Funds” represents the component of equity in Consolidated Funds held by third party investors. During each reporting period, these interests are adjusted by the third party's performance allocation and additional subscriptions or redemptions as permitted by the applicable governing agreement(s). The third party’s performance is reported in “Net (income) loss attributable to noncontrolling interests in Consolidated Entities.” Business Combinations —Upon the acquisition of a business, the Company records all assets acquired and liabilities assumed at their estimated fair values, including intangible assets and goodwill. Strategic transaction related costs are expensed as incurred. Intangible Assets —The Company's intangible assets consist primarily of contractual rights to earn future management fees from CLOs. The Company determined that all intangible assets held are comprised of assets with finite lives and are amortized on a straight line basis or based on a ratio of expected discounted cash flows of the contracts. Intangible assets with finite lives are tested for impairment if events or changes in circumstances indicate that the assets may not be recoverable. If the Company determines the carrying value of an intangible asset is not recoverable it will record an impairment charge to the extent its carrying value exceeds its estimated fair value. Impairments of intangible assets are recorded in "Impairment of intangible assets" on the Consolidated Statements of Operations. See Note 9 for further details. Goodwill —The excess of the cost of an acquired entity over the net of the amounts assigned to assets acquired (including identifiable intangible assets) and liabilities assumed is recorded as goodwill. Goodwill represents the excess cost of a business acquisition over the fair value of the net assets acquired and is not amortized. Goodwill has been recognized as a result of strategic mergers and acquisitions. The Company reviews goodwill periodically, at least on an annual basis on November 30th of each year, to determine whether the carrying value of goodwill is impaired. If goodwill is deemed to be impaired, the difference between the carrying amount reflected in the Consolidated Financial Statements and the estimated fair value is recognized as an expense in the period in which the impairment occurs. The Company has one reporting unit for which goodwill is tested for impairment. See Note 9 for further details. Contingent Consideration and Contingent Liabilities —Contingent consideration and contingent liabilities assumed in business combinations are recorded at fair value and measured at fair value at each reporting date with changes in fair value recorded within "Net gain (loss) on contingent liabilities" on the Consolidated Statements of Operations. See Note 10 for further details. Fair Value Measurements and Presentation —The Company categorizes its financial instruments carried at fair value into a three-level fair value hierarchy based on the transparency of the inputs to the valuation of the asset or liability as of the measurement date. A financial instrument’s categorization within the valuation hierarchy is determined by the lowest level of input that is significant to the fair value measurement. The assessment of significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. The three levels are defined as follows: • Level 1 —inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Financial instruments included in Level 1 are generally equity securities or derivatives listed on an exchange with active markets. The Company held no Level 1 financial instruments during the periods presented. • Level 2 —inputs to the valuation methodology include quoted prices for similar financial instruments in active markets, quoted prices for identical financial instruments in inactive markets, and inputs that are observable for the financial instrument, either directly or indirectly, for substantially the full term of the financial instrument. The Company's financial instruments generally included in this category are loans where asset valuations are provided by third-party pricing services (loan valuations provided by third-party pricing services based on a composite price determined using fewer than two quotes are classified as Level 3), corporate bonds and investments in CLOs and CDOs where asset valuations are provided by third-party pricing services, and total return swaps on warehouses. • Level 3 —inputs to the valuation methodology include significant unobservable inputs to the fair value measurement. This includes situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. The Company's financial instruments generally included in this category are corporate bonds, investments in CLOs, CDOs and loans where valuations are provided by third-party pricing services based on a composite price determined using fewer than two quotes, loans where asset valuations are not provided by third-party pricing services and whose fair value is determined using the Company's comparable companies pricing model or other pricing models, warrants, long-term debt of the Consolidated CLOs (including the subordinated notes). Long-term debt of the Consolidated VIEs is no longer measured using a third-party pricing service due to the adoption of ASU 2014-13 effective January 1, 2015 (see below). Determination of Fair Values —Fair value is the price a market participant would receive in the sale of an asset, or pay to transfer a liability, in an orderly transaction at the measurement date. Where available, fair value is based on observable market prices or parameters or is derived from such prices or parameters. Where observable prices or inputs are not available, valuation models are utilized. These valuation models involve estimation and judgment, the degree of which is dependent on both the price transparency for the instruments or market and the instruments’ complexity. Assets and liabilities recorded at fair value in the Consolidated Financial Statements are categorized for disclosure purposes based on the level of judgment associated with the inputs used to measure their value as described above. Transfers between levels of the fair value hierarchy are recognized at the end of the reporting period. Many financial instruments have bid and ask prices that can be observed in the marketplace. Bid prices reflect the highest price that market participants are willing to pay for an asset. Ask prices represent the lowest price market participants are willing to accept for an asset. For financial instruments whose inputs are based on bid-ask prices, the Company's policy is to take the mid-point in the bid-ask spread to value these financial instruments as a practical expedient for determining fair value permissible under the guidance. Fair value is a market-based measure considered from the perspective of the market participant who holds the asset or owes the liability rather than an entity-specific measure. Therefore, when market assumptions are not readily available, assumptions are set to reflect those that the Company believes market participants would use in pricing the financial instrument at the measurement date. The availability of observable inputs can vary depending on the financial instrument and is affected by a variety of factors, including, for example, the type of product, age of the product, whether the product is traded on an active exchange or in the secondary market and, current market conditions. Determinations of fair value require more judgment to the extent that the valuation is based on inputs that are either less observable or unobservable in the market. Accordingly, the degree of judgment exercised in determining fair value is greatest for financial instruments classified as Level 3. The fair value process is monitored by the Valuation Committee. The Valuation Committee is chaired by the Co-President and the Chief Investment Officer and is comprised of investment, finance, and portfolio control professionals. The purpose of the committee is to oversee the pricing policy and procedures by ensuring objective and reliable valuation practices and pricing of financial instruments, as well as addressing fair valuation issues and approving changes to valuation methodologies and pricing sources. Meetings are held at least quarterly to discuss and analyze the significant assumptions utilized in the Company's internally developed models and to review the valuations provided by third-party pricing services for reasonableness. The Company engages reputable third-party pricing services and regularly reviews the valuation methodologies provided by those third-party pricing services to ensure the fair value measurement provided by those services. Fair Value Option —The Company has elected the fair value option for (i) its investments in the CLO, warehouses and credit funds it manages and (ii) the financial assets and the financial liabilities of the Consolidated Entities. For investments in CLO, warehouse and credit funds where the Company is not required to consolidate, the unrealized appreciation or depreciation and realized gains and losses on the investments are recorded in the Consolidated Statements of Operations within "Net gain (loss) on investments." For Consolidated Entities, prior to the adoption of ASU 2014-13, the measurement difference between the fair value of the financial assets and the fair value of the financial liabilities resulted in net gains (losses) that were reported in the Company's consolidated operating results. Unrealized appreciation or depreciation and realized gains and losses on assets and liabilities of Consolidated VIEs were recorded in the Consolidated Statements of Operations within "Net gain (loss) on Investments-Consolidated Entities" and "Net gain (loss) on Liabilities-Consolidated Entities." The adoption of the new measurement guidance eliminated the non-economic measurement differences and the associated income volatility. Financial Instruments held by Consolidated VIEs —Prior to the adoption of ASU 2014-13 (as defined below), the Company elected the fair value option for the consolidated assets and liabilities of the CLOs and warehouses. These assets are considered trading securities and therefore are not held at amortized cost. Accordingly, the measurement difference between the fair value of the financial assets and the fair value of the financial liabilities resulted in net gains (losses) that were reported in the Company's Consolidated Statements of Operations within "Net gain (loss) on Investments-Consolidated Entities" and "Net gain (loss) on Liabilities-Consolidated Entities." Upon adoption of ASU 2014-13, the Company has elected to use the measurement alternative for measuring financial assets and financial liabilities of the Company's CLOs and warehouses. The Company determined that financial assets of its CLOs and warehouses are generally more observable. The assets underlying the Company's managed CLOs and warehouses are SSCLs which are generally traded on an active over-the-counter system where generally multiple broker quotes can be obtained at the measurement date. The CLO debt market is also actively traded; however, quotations are available on a limited scale in comparison to the financial assets. Further, there is no active market for warehouse debt. As a result, the financial assets of the consolidated CLOs and warehouses are measured at fair value and the financial liabilities are measured in consolidation as: (1) the sum of the fair value of the financial assets and the carrying value of any non-financial assets that are incidental to the operations of the CLOs less (2) the sum of the fair value of any beneficial interests retained by the reporting entity (other than those that represent compensation for services) and the Company’s carrying value of any beneficial interests that represent compensation for services. The resulting amount is allocated to the individual financial liabilities (other than the beneficial interest retained by the Company). ASU 2014-13 was applied on a modified retroactive basis (as of January 1, 2015) (see below). Under the measurement alternative, the Company’s Consolidated Statement of Operations reflects the Company’s economic interests in the consolidated CLOs and warehouses including (i) changes in the fair value of the beneficial interests retained by the Company and (ii) beneficial interests that represent compensation for its investment management services. Revenue Recognition — Management and Incentive Fees —The Company earns management and incentive fees from the Funds it manages. These management fees are paid periodically in accordance with the terms of the individual management agreements for as long as the Company manages the Funds. The management fees paid to the Company by these Funds are the Company's primary source of revenue. Management fees typically consist of fees based on the amount of assets held in the Funds. Management fees are recognized as revenue when earned. The Company does not recognize incentive fees until all contingencies have been removed. Revenue Recognition — Interest Income from Investments —From time to time, the Company will invest in investment products it manages. “Interest income from investments” includes interest revenue from these investments and a portion of equity distributions earned from the Company’s investment in the residual interests of CLOs. For the CLOs and warehouses that the Company does not consolidate, interest income is recognized using the effective interest method and reported in "Interest income from investments" on the Condensed Consolidated Statement of Operations. Interest income on consolidated CLOs/warehouses is reported on the Condensed Consolidated Statements of Operations in "Interest income-Consolidated Entities" (Note 6 ). Consolidated Entities’ Assets — Receivables/Revenues —Interest income is accrued regularly on the SSCLs held by the Consolidated Entities. The Company has elected to account for all assets of the Consolidated Entities under the fair value option. At the end of each reporting period, past due or non-accrual status receivables (interest only) are written-off or adjusted in the fair value of the respective fund. Long-Term Debt — Pursuant to the adoption of ASU 2015-03 (see below), the Company's Junior Subordinated and Senior Notes are recorded net of debt issuance costs. Debt issuance costs will amortize on a straight line basis as interest expense over the life of the debt. The Convertible Notes were recorded at a discount, which were being amortized as interest expense over the life of the debt. The Convertible Notes were converted during 2014 . Consolidated Entities’ Long-Term Debt —Subordinated notes of the Consolidated Entities have certain characteristics of equity and are recorded as debt on the Consolidated Balance Sheets as they have stated maturities. The maturities indicate a date on which they are mandatorily redeemable and redemption is required only upon liquidation or termination of the CLO and not upon liquidation or termination of the Company. Interest expense of Consolidated Entities is recorded in "Interest Expense - Consolidated Entities" on the Consolidated Statements of Operations. Cash and Cash Equivalents —Cash and cash equivalents include cash on hand, cash held in banks and liquid investments with original maturities of 90 days or less. Restricted Cash and Cash Equivalents —Restricted cash and cash equivalents represent amounts held by third parties for settlement of certain obligations and cash, subject to certain restrictions, held in non-recourse entities (including Consolidated Entities). Due from Brokers and Due to Brokers —Amounts due from brokers and due to brokers generally represent unsettled trades. Amounts due from brokers and due to brokers are recorded as assets and liabilities, respectively. Equipment and Improvements —Equipment and Improvements are stated at cost, net of accumulated depreciation. Depreciation is generally recorded using the straight-line method over the estimated useful lives of the various classes of equipment. Leasehold improvements are amortized over the shorter of their estimated useful lives or the remaining life of the lease using the straight-line method. The Company does not consider renewal options when determining the amortization of leasehold improvements unless renewal is considered reasonably assured at the inception of the lease. Equipment and Improvements are periodically reviewed for indications of impairment and written down to fair value if impaired. Income Taxes —Current federal income taxes are recognized based on amounts estimated to be payable or recoverable as a result of taxable income for the current year. Deferred tax assets and liabilities are recognized for the future income tax consequences (temporary differences) attributable to the difference between the carrying amounts of assets and liabilities and their respective income tax bases. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which temporary differences are expected to be recovered or settled. The Company recognizes the effect of changes in income tax laws or rates on deferred tax assets and liabilities in the period that includes the enactment date. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets to the amount that is more likely than not to be realized. Components of deferred tax assets, liabilities and valuation allowance are included in Note 15 . GAAP provides guidelines for how uncertain tax positions should be recognized, measured, presented and disclosed in the Consolidated Financial Statements. Uncertain tax positions disclosure, if any, are included in Note 15 . The Company accrues interest and penalties, if applicable, in income tax expense. Tax years that remain open to examination by major tax jurisdictions include 2011 through the current year. Share-Based Compensation —Compensation cost for share-based awards are generally measured based on the grant-date fair value of the award. Share-based awards that do not require future service (i.e. vested awards) are expensed immediately. Share-based awards that require future service or performance conditions are amortized over the relevant service period. The Company communicates "target awards" at the beginning of the performance period and the final payouts are determined when performance criterion are met at the end of the performance period. Amortization is recognized as "Share-based compensation" in the Consolidated Statements of Operations. See Note 12 for the required disclosure relating to share-based compensation. Earnings Per Share —Basic earnings per share is calculated by dividing net income (loss) attributable to the Company by the weighted-average number of shares outstanding for the period. Diluted earnings per share adjusts basic earnings per share by the dilution that would have occurred had all contingent issuances of shares that would have individually reduced earnings per share occurred at either the beginning of the period or the time of issuance of the potentially dilutive securities, if those securities were issued during the period. The Company uses the treasury stock method to determine the dilutive effect of stock options, warrants and unvested restricted stock units ("RSUs") and the if-converted method to determine the dilutive effects of the Convertible Notes. During 2014, the Convertible Notes were converted. See Note 14 for the computation of earnings per share. Recent Accounting Updates Adopted Guidance: In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest (Topic 835-30), Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”), which requires debt issuance costs to be presented on the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. The standard does not affect the recognition and measurement of debt issuance costs. The standard is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. The new guidance will be applied on a retrospective basis. The Company early adopted ASU 2015-03 and presented debt issuance costs related to its recourse debt as a direct deduction on the carrying value of the associated debt liability. As part of the retroactive adoption, as of December 31, 2014, the Company reclassified $1.8 million of Junior Subordinated Note debt issuance costs from Prepaid and other assets to a contra liability account as a direct deduction of the net carrying value of Long-term debt (Note 11 ). In May 2015, the FASB issued ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (“ASU 2015-07”). Under the guidance, investments measured at net asset value (“NAV”), as a practical expedient for fair value, are excluded from the fair value hierarchy. Instead, an entity is required to include those investments as a reconciling line item so that the total fair value amount of investments in the disclosure is consistent with the amount on the balance sheet. Further, entities must provide additional disclosures for investments for which they elect to use the NAV practical expedient to determine fair value. This guidance is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years and early adoption is permitted. The ASU should be applied retrospectively to all periods presented. The Company early adopted ASU 2015-07 and excluded from the fair value hierarchy table investments in its unconsolidated credit funds that are measured at NAV as a practical expedient as of December 31, 2015 and 2014 (Note 5 ). In February 2015, the FASB issued ASU 2015-02. The guidance amends the current consolidation guidance and ends the deferral granted to investment companies from applying the VIE guidance. The revised consolidation guidance, among other things, (i) modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or VOEs, (ii) eliminated the presumption that a general partner should consolidate a limited partnership, and (iii) modifies the consolidation analysis of reporting entities that are involved with VIEs through fee arrangements and related party relationships. The standard is effective for the Company beginning on January 1, 2016, however, early adoption is allowed. The Company early adopted ASU 2015-02 on a modified retroactive basis. Upon adoption, as of January 1, 2015, the Company deconsolidated 30 CLOs and the Senior Secured Corporate Loan Fund from its Consolidated Financial Statements. As of January 1, 2015, the Company made a non-cash adjustment to deconsolidate Consolidated Entities' assets of $12.6 billion and Consolidated Entities' liabilities of $12.3 billion . This resulted in a cumulative effect adjustment of $127.9 million to beginning "Appropriated retained earnings (deficit) of Consolidated VIEs" and $204.4 million to beginning "Noncontrolling interests in Consolidated Funds". The Company's investment in unconsolidated CLOs and the Senior Secured Corporate Loan fund have been reported in "Investments" on the Consolidated Balance Sheet as of December 31, 2015 . The Consolidated Financial Statements reflect the impact of this adoption as of January 1, 2015. In August 2014, the FASB issued ASU 2014-13, Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity (a consensus of the FASB Emerging Issues Task Force) (“ASU 2014-13”) which provides guidance on measuring the financial assets and financial liabilities of a consolidated collateralized financing entity (“CFE”), such as CLOs and warehouses. Entities may make an election to measure the CFE on the basis of either the fair value of the CFE’s financial assets or financial liabilities, whichever is deemed more observable. This will eliminate the non-economic measurement differences between financial assets and financial liabilities and the associated income volatility. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 for public companies and early adoption is permitted. The adoption can be applied on a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the annual period of adoption or retrospectively to all relevant prior periods. In conjunction with the adoption of ASU 2015-02 (see above and Note 2 ), the Company has also elected to early adopt ASU 2014-13 on a modified retroactive basis. As of January 1, 2015, ASU 2014-13 was applied to the consolidated CLOs (Note 2 ). This resulted in a cumulative effect adjustment of $6.9 million to beginning "Appropriated retained earnings (deficit) of Consolidated VIEs". Guidance not yet adopted: In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606), Deferral of the Effective Date . The ASU amends the effective date of ASU 2014-09 for all entities by one year. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The standard clarifies the required factors that an entity must consider when recognizing revenue and also requires additional disclosures. With the issuance of ASU 2014-15 the new effective date for the Company is beginning January 1, 2018. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern . The guidance will explicitly require management to assess an entity's ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. The new standard will be effective in the first annual period ending after December 15, 2016. Earlier adoption is permitted. The Company does not believe this guidance will have a material

CONSOLIDATED VIEs (Notes)

CONSOLIDATED VIEs (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Consolidated Variable Interest Entities
Consolidated VIEs	Consolidated VIEs Although the Company consolidates all the assets and liabilities of the Consolidated VIEs (including the Consolidated CLOs, warehouses and other investment products), its maximum exposure to loss is limited to its investments and beneficial interests in the Consolidated VIEs and the receivables of management fees from the Consolidated VIEs. All of these items are eliminated upon consolidation. The assets of each of the Consolidated VIEs are administered by the trustee of each fund solely as collateral to satisfy the obligations of the Consolidated VIEs. If the Company were to liquidate, the assets of the Consolidated VIEs would not be available to the Company's general creditors, and, as a result, the Company does not consider them its assets. Additionally, the investors in the debt and residual interests of the Consolidated VIEs have no recourse to the Company's general assets. Therefore, this debt is not the Company's obligation. The following table summarizes the Company's total maximum exposure to loss on these Consolidated VIEs, as follows (1): March 31, 2016 December 31, 2015 (In thousands) Maximum exposure to loss: Investments and beneficial interests (2) $ 81,944 $ 81,752 Receivables 394 605 Total maximum exposure to loss $ 82,338 $ 82,357 Explanatory Notes: ________________________________ (1) In addition, exposure to loss includes future management fees on the Consolidated VIEs, which are not included in the table. (2) Investments made in our Consolidated VIEs are eliminated in consolidation.	Consolidated VIEs Although the Company consolidates all the assets and liabilities of the Consolidated VIEs (including the Consolidated CLOs, warehouses and other investment products), its maximum exposure to loss is limited to its investments and beneficial interests in the Consolidated VIEs and the receivables of management fees from the Consolidated VIEs. All of these items are eliminated upon consolidation. The assets of each of the Consolidated VIEs are administered by the trustee of each fund solely as collateral to satisfy the obligations of the Consolidated VIEs. If the Company were to liquidate, the assets of the Consolidated VIEs would not be available to the Company's general creditors, and as a result, the Company does not consider them its assets. Additionally, the investors in the debt and residual interests of the Consolidated VIEs have no recourse to the Company's general assets. Therefore, this debt is not the Company's obligation. The following table summarizes the Company's total maximum exposure to loss on these Consolidated VIEs, as follows (1): CIFC LLC CIFC Corp. CIFC LLC & CIFC Corp. December 31, 2015 December 31, 2014 (In thousands) Maximum exposure to loss: Investments and beneficial interests (2) $ 81,752 $ — $ 46,651 Receivables 605 — 4,200 Total maximum exposure to loss $ 82,357 $ — $ 50,851 Explanatory Notes: ________________________________ (1) In addition, exposure to loss excludes future management fees on the Consolidated VIEs, which are not included in the table. (2) Investments made in our Consolidated VIEs are eliminated in consolidation.

FAIR VALUE

FAIR VALUE	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	Fair Value Assets and Liabilities Measured at Fair Value on a Recurring Basis Fair Value Hierarchy — The following table summarizes the assets and liabilities carried at fair value on a recurring basis, by class and level: March 31, 2016 December 31, 2015 Level 1 Level 2 Level 3 NAV Estimated Fair Value Level 1 Level 2 Level 3 NAV Estimated Fair Value (In thousands) (In thousands) Assets Investments: Credit Funds $ — $ — $ — $ 31,977 $ 31,977 $ — $ — $ — $ 31,411 $ 31,411 Structured products & other — 1,558 43,812 — 45,370 — 1,768 37,517 — 39,285 Subtotal — 1,558 43,812 31,977 77,347 — 1,768 37,517 31,411 70,696 Consolidated Entities: Loans (1) — 1,052,484 292,559 — 1,345,043 — 1,067,539 281,868 — 1,349,407 Structured products & other — 802 1,118 — 1,920 — 840 1,156 — 1,996 Total Consolidated Entities — 1,053,286 293,677 — 1,346,963 — 1,068,379 283,024 — 1,351,403 Total Assets $ — $ 1,054,844 $ 337,489 $ 31,977 $ 1,424,310 $ — $ 1,070,147 $ 320,541 $ 31,411 $ 1,422,099 Liabilities Contingent liabilities $ — $ — $ 8,142 $ — $ 8,142 $ — $ — $ 8,338 $ — $ 8,338 Total Liabilities $ — $ — $ 8,142 $ — $ 8,142 $ — $ — $ 8,338 $ — $ 8,338 Explanatory Note: ______________________________ (1) As of both March 31, 2016 and December 31, 2015 , the total aggregate unpaid principal balance of loans was $1.4 billion .See Note 9 for total contractual principal amounts. Changes in Level 3 Recurring Fair Value Measurements — The following tables summarize by class the changes in financial assets and liabilities measured at fair value classified within Level 3 of the valuation hierarchy. Net realized and unrealized gains (losses) for Level 3 financial assets and liabilities measured at fair value are included in the Consolidated Statements of Operations. Level 3 Financial Assets For the Three Months Ended March 31, 2016 Investments Investment Assets of Consolidated Entities Structured Products & Other Total Loans Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 37,517 $ 37,517 $ 281,868 $ 1,156 $ 283,024 Transfers into Level 3 (1) — — 95,421 — 95,421 Transfers out of Level 3 (2) — — (84,551 ) — (84,551 ) Net realized/unrealized gains (losses) (3) (1,307 ) (1,307 ) (933 ) (38 ) (971 ) Purchases (3) 15,721 15,721 24,480 — 24,480 Sales (3) (8,000 ) (8,000 ) (9,899 ) — (9,899 ) Settlements (3) (119 ) (119 ) (13,827 ) — (13,827 ) Estimated fair value, end of period $ 43,812 $ 43,812 $ 292,559 $ 1,118 $ 293,677 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ (213 ) $ (213 ) $ (1,967 ) $ (38 ) $ (2,005 ) Level 3 Financial Assets For the Three Months Ended March 31, 2015 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Transfers into Level 3 (1) — — — 2,327 — — 2,327 Transfers out of Level 3 (2) (3) — — — (8,477 ) — — (8,477 ) Transfers in (out) due to deconsolidation (2)(3) — 23,614 23,614 (2,476,625 ) (478 ) (67,383 ) (2,544,486 ) Net realized/unrealized gains (losses) (3) — (197 ) (197 ) 497 — (101 ) 396 Purchases (3) — 7,138 7,138 26,643 — 2,188 28,831 Sales (3) — (5,296 ) (5,296 ) (11,336 ) — — (11,336 ) Settlements (3) — — — (5,933 ) — — (5,933 ) Estimated fair value, end of period $ 967 $ 32,863 $ 33,830 $ 44,983 $ — $ 4,677 $ 49,660 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ — $ 3 $ 3 $ 82 $ — $ (101 ) $ (19 ) Explanatory Notes: ______________________________ (1) Transfers in represent loans currently valued by a third-party pricing service using composite prices determined using less than two quotes, an internally developed pricing model or broker quotes and that were previously marked by a third-party pricing service using composite prices determined from two or more quotes. (2) Transfers out represent loans previously valued by an internally developed pricing model, broker quotes, or a third-party pricing service using composite prices determined using less than two quotes and are now being marked by a third-party pricing service using composite prices determined from two or more quotes. (3) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out, net realized/unrealized gains (losses), purchases, sales and settlements for the three months ended March 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Level 3 Financial Liabilities For the Three Months Ended March 31, 2016 For the Three Months Ended March 31, 2015 Contingent Liabilities Total Contingent Liabilities Long-term Debt of Consolidated Entities Total (In thousands) Estimated fair value, beginning of period $ 8,338 $ 8,338 $ 12,668 $ 12,049,034 $ 12,061,702 Transfer in due to consolidation (2)(3) — — — (12,049,034 ) (12,049,034 ) Net realized/unrealized (gains) losses (2) 364 364 713 — 713 Settlements (2)(4) (560 ) (560 ) (1,558 ) — (1,558 ) Estimated fair value, end of period $ 8,142 $ 8,142 $ 11,823 $ — $ 11,823 Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period $ 364 $ 364 $ 713 $ — $ 713 Explanatory Notes: __________________________ (1) Represents the Company's sales of its residual interests in the Consolidated CLOs. The sale removes the requirement to consolidate the CLOs, therefore, debt and/or subordinated notes of the CLOs are no longer eliminated in consolidation. (2) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out, net realized/unrealized gains (losses), purchases, sales and settlements for the three months ended March 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. (3) Pursuant to the adoption of ASU 2014-13, the Long-term Debt of Consolidated Entities have been remeasured in accordance with the new guidance. (4) For Contingent Liabilities, amount represents payments made and due related to the contingent liabilities from the merger with Legacy CIFC (Note 8 ). Fair Value Methodologies of Financial Instruments The following is a description of the Company's valuation methodologies for financial instruments measured at fair value by class as required by ASC Topic 820, including the general classification of such instruments pursuant to the valuation hierarchy. Credit Funds —Amounts include the Company's investment in unconsolidated credit funds where the Company co-invests with third-party investors. The fair value of investments in credit funds are generally determined based on the Company's proportionate share of the net asset value ("NAV") of the fund. Investors in the Company’s open-ended credit funds may redeem their interests, at any time, within 30 days after notice. Investors in the Company’s closed-end credit funds generally cannot redeem. The Company estimates that closed-end funds are expected to liquidate over 2 to 5 years. The Company has no unfunded commitments in its open-ended and closed-end credit funds. The Company's investments in credit funds have been excluded from the fair value hierarchy table. Loans —Loans are generally valued via a third-party pricing service. The value represents a composite of the mid-point in the bid-ask spread of broker quotes or is based on the composite price of a different tranche of the same or similar security if broker quotes are unavailable for the specific tranche the Company owns. The third-party pricing service provides the number of quotes used in determining the composite price, a factor that the Company uses in determining the observability level of the inputs to the composite price. When the fair value of the loan investments is based on a composite price determined using two or more quotes the composite price is considered to be based on significant observable inputs and classified as Level 2 within the fair value hierarchy. When the fair value of certain loan investments is based on a composite price determined using less than two quotes, the composite price is considered to be based on significant unobservable inputs. In these instances, the Company performs certain procedures on a sample basis to determine that composite prices approximate fair market value. Alternative methodologies are used to value the loans such as a comparable company pricing model (an internally developed model using composite or other observable comparable market inputs) or an internally developed model using data including unobservable market inputs. Accordingly, loans valued using alternative methodologies are classified as Level 3 within the fair value hierarchy. Structured Products & Other —Structured Products and Other primarily represents the fair value of investments in CIFC and third-party managed CLOs and warehouses. These assets are generally valued via a third-party pricing service. The inputs to the valuation include recent trade information, discount rates, forward yield curves, and loan level information (including loan loss, recovery and default rates, prepayment speeds and other security specific information obtained from the trustee and other service providers related to the product being valued). Although the inputs used in the third-party pricing service's valuation model are generally obtained from active markets, the third-party pricing service does not provide a detailed analysis for each security valued. The Company performs certain procedures on a sample basis to determine that prices approximate fair market value. When a value from a third-party pricing service is unavailable, the value may be based on an internally developed discounted cash flow model which includes unobservable market inputs or by broker quote. Inputs to the internally developed model include the structure of the product being valued, estimates related to loan default, recovery and discount rates. Accordingly these assets are classified as Level 3 within the fair value hierarchy. In addition, included in Structured Products and Other are (i) equity securities not listed for trading on a national exchange ("Non-listed Equity Securities") received on certain loan restructurings within our portfolio and (ii) on occasion, warehouse total return swaps ("TRS," Note 6 ). Similar to the fair value of loans, Non-listed Equity Securities are valued using a third-party pricing service. When the fair value of a Non-listed Equity Security is determined using two or more quotes, it is classified as Level 2 within the fair value hierarchy, and when the fair value is determined using less than two quotes, it is classified as Level 3 within the fair value hierarchy. The fair value of a warehouse TRS is calculated as the sum of (i) the change in fair value of the reference obligations (SSCLs are valued at a composite of the mid-point in the bid-ask spread of broker quotes) since they became reference obligations, (ii) net realized gains (losses) on reference obligations sold during the period and (iii) interest income earned on the reference obligations, less an amount equal to LIBOR plus an agreed upon margin on the outstanding notional amount of the reference obligations. The warehouse TRS values are classified as Level 2 within the fair value hierarchy. Contingent Liabilities —The fair value of contingent liabilities is based on a discounted cash flow model. The model is based on projections of the relevant future management fee cash flows and utilizes both observable and unobservable inputs in the determination of fair value. Significant inputs to the valuation model include the structure of the underlying CLO and estimates related to loan default, recovery and discount rates. Contingent liabilities are classified as Level 3 within the fair value hierarchy. Long-Term Debt of the Consolidated CLOs & Warehouses —Long-term debt of the Consolidated CLOs and warehouses consists of debt and subordinated notes of the Consolidated CLOs and warehouses. Financial liabilities are measured as: (1) the sum of the fair value of the financial assets and the carrying value of any non-financial assets that are incidental to the operations of the CLOs less (2) the sum of the fair value of any beneficial interests retained by the reporting entity (other than those that represent compensation for services) and the Company’s carrying value of any beneficial interests that represent compensation for services. Quantitative Information about Level 3 Assets & Liabilities The disclosure provided below provides quantitative information about the significant unobservable inputs used in the valuation of the contingent liabilities of Legacy CLOs (see Note 9 ). March 31, 2016 March 31, 2016 December 31, 2015 Impact of Increase in Input on Fair Value Financial Liabilities Fair Value (in thousands) Valuation Technique Significant Unobservable Input Range Range Contingent Liabilities $ 8,142 Discounted cash flows Discount rate (2) 8.1%-13.0% 6.7%-12.0% Decrease Default rate (3) 2.0% 2.0% Decrease Recovery rate (3) 70% 70% Increase Pre-payment rate (3) 25% 40% Decrease Reinvestment spread of assets above LIBOR 3.3%-4.0% 3.0-3.8% Increase Reinvestment price of assets 100.0 100.0 Increase Explanatory Notes: ____________________________ (1) The impact of a decrease in input would have the opposite impact to the fair value as that presented in the table. (2) The discount rate varies by type of management fee (senior management fee, subordinated management fee, or incentive fee), the priority of that management fee in the waterfall of the CLO and the relative risk associated with the respective management fee cash flow projections. Amounts are presented as a spread over LIBOR . (3) Generally an increase in the default rate would be accompanied by a directionally opposite change in assumption for the recovery and pre-payment rates. Carrying Value and Estimated Fair Value of Financial Assets and Liabilities The Company has not elected the fair value option for certain financial liabilities. A summary of the carrying value and estimated fair value of those liabilities are as follows: As of March 31, 2016 As of December 31, 2015 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value (In thousands) Financial liabilities: Long-term debt: Junior Subordinated Notes (1) $ 118,282 $ 52,549 $ 118,259 $ 57,371 Senior Notes (2) $ 37,955 $ 40,000 $ 37,902 $ 40,000 Explanatory Note: ________________________________ (1) The Junior Subordinated Notes include both the March and October Junior Subordinated Notes (Note 9 ). The estimated fair values of the Junior Subordinated Notes were determined using a discounted cash flow model which utilizes significant unobservable inputs, including discount rates, yield and forward LIBOR curve assumptions. This methodology is classified as Level 3 within the fair value hierarchy. (2) On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which are publicly registered and fair valued using the issuance price. The carrying value of all of the following approximate the fair value of the financial instruments and are considered Level 1 in the fair value hierarchy: cash and cash equivalents, restricted cash and cash equivalents, receivables and due to brokers. In addition, amounts in the Consolidated Entities related to, restricted cash and cash equivalents, due from brokers, receivables and due to brokers also approximate the fair value of the instruments and are all considered Level 1 in the fair value hierarchy. Investments of the Consolidated Entities are diversified over multiple industries. In addition, applicable agreements governing CLOs and warehouses outline industry concentration limits. Management does not believe the Company has any significant concentration risks.	Fair Value Assets and Liabilities Measured at Fair Value on a Recurring Basis Fair Value Hierarchy — The following table summarizes the assets and liabilities carried at fair value on a recurring basis, by class and level: CIFC LLC December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 NAV Estimated Fair Value Level 1 Level 2 Level 3 NAV Estimated Fair Value (In thousands) (In thousands) Assets Investments: Credit Funds (1) $ — $ — $ — $ 31,411 $ 31,411 $ — $ — $ — $ 27,169 $ 27,169 Loans — — — — — — 2,959 967 — 3,926 Structured products & other — 1,768 37,517 — 39,285 — — 7,604 — 7,604 Subtotal — 1,768 37,517 31,411 70,696 — 2,959 8,571 27,169 38,699 Consolidated Entities: Loans (2) — 1,067,539 281,868 — 1,349,407 — 9,184,488 2,517,887 — 11,702,375 Corporate bonds — — — — — — — 478 — 478 Structured products & other — 840 1,156 — 1,996 — — 69,973 — 69,973 Total Consolidated Entities — 1,068,379 283,024 — 1,351,403 — 9,184,488 2,588,338 — 11,772,826 Total Assets $ — $ 1,070,147 $ 320,541 $ 31,411 $ 1,422,099 $ — $ 9,187,447 $ 2,596,909 $ 27,169 $ 11,811,525 Liabilities Contingent liabilities $ — $ — $ 8,338 $ — $ 8,338 $ — $ — $ 12,668 $ — $ 12,668 Consolidated Entities: Long-term debt (2) — — — — — — — 12,049,034 — 12,049,034 Total Consolidated Entities — — — — — — — 12,049,034 — 12,049,034 Total Liabilities $ — $ — $ 8,338 $ — $ 8,338 $ — $ — $ 12,061,702 $ — $ 12,061,702 CIFC Corp. December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 NAV Estimated Fair Value Level 1 Level 2 Level 3 NAV Estimated Fair Value (In thousands) (In thousands) Assets Investments: Credit Funds (1) $ — $ — $ — $ — $ — $ — $ — $ — $ 27,169 $ 27,169 Loans — — — — — — 2,959 967 — 3,926 Structured products & other — — 739 — 739 — — 7,604 — 7,604 Subtotal — — 739 — 739 — 2,959 8,571 27,169 38,699 Consolidated Entities: Loans (2) — — — — — — 9,184,488 2,517,887 — 11,702,375 Corporate bonds — — — — — — — 478 — 478 Structured products & other — — — — — — — 69,973 — 69,973 Total Consolidated Entities — — — — — — 9,184,488 2,588,338 — 11,772,826 Total Assets $ — $ — $ 739 $ — $ 739 $ — $ 9,187,447 $ 2,596,909 $ 27,169 $ 11,811,525 Liabilities Contingent liabilities $ — $ — $ 8,338 $ — 8,338 $ — $ — $ 12,668 $ — $ 12,668 Consolidated Entities: Long-term debt (2) — — — — — — — 12,049,034 — 12,049,034 Total Consolidated Entities — — — — — — — 12,049,034 — 12,049,034 Total Liabilities $ — $ — $ 8,338 $ — $ 8,338 $ — $ — $ 12,061,702 $ — $ 12,061,702 Explanatory Note: ______________________________ (1) Pursuant to the adoption of ASU 2015-07, disclosure of assets measured at NAV as a practical expedient in the fair value hierarchy is no longer required. (2) As of December 31, 2015 and 2014 , the total aggregate unpaid principal balance of loans was $1.4 billion and $12.0 billion , respectively. See Note 11 for total contractual principal amounts. As of December 31, 2015 , Long-term debt of the Consolidated VIEs was no longer measured using a third-party pricing service due to the adoption of ASU 2014-13 (Note 3 ). Changes in Level 3 Recurring Fair Value Measurements — The following tables summarize by class the changes in financial assets and liabilities measured at fair value classified within Level 3 of the valuation hierarchy. Net realized and unrealized gains (losses) for Level 3 financial assets and liabilities measured at fair value are included in the Consolidated Statements of Operations. CIFC LLC Level 3 Financial Assets For the Year Ended December 31, 2015 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Transfers into Level 3 (1) — — — 51,012 — — 51,012 Transfers out of Level 3 (2) — — — (69,435 ) — (1,803 ) (71,238 ) Transfers in due to consolidation or acquisition — — — 143,856 — — 143,856 Transfers out due to consolidation or acquisition — (12,546 ) (12,546 ) — — — — Transfers in (out) due to deconsolidation (2)(3) — 23,614 23,614 (2,476,625 ) (478 ) (67,383 ) (2,544,486 ) Transfers between classes — (2,613 ) (2,613 ) — — 2,613 2,613 Net realized/unrealized gains (losses) (3) 33 (6,828 ) (6,795 ) (16,747 ) — (143 ) (16,890 ) Purchases (3) 990 63,060 64,050 246,256 — 1,129 247,385 Sales (3) (1,990 ) (28,715 ) (30,705 ) (95,305 ) — (3,230 ) (98,535 ) Settlements (3) — (6,059 ) (6,059 ) (19,031 ) — — (19,031 ) Estimated fair value, end of period $ — $ 37,517 $ 37,517 $ 281,868 $ — $ 1,156 $ 283,024 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ — $ (5,689 ) $ (5,689 ) $ (4,875 ) $ — $ (163 ) $ (5,038 ) CIFC Corp. Level 3 Financial Assets For the Year Ended December 31, 2015 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Transfers into Level 3 (1) — — — 51,012 — — 51,012 Transfers out of Level 3 (2) — — — (69,435 ) — (1,803 ) (71,238 ) Transfers in due to consolidation or acquisition — — — 143,856 — — 143,856 Transfers out due to consolidation or acquisition — (12,546 ) (12,546 ) — — — — Transfers in (out) due to deconsolidation (2)(3) — 23,614 23,614 (2,476,625 ) (478 ) (67,383 ) (2,544,486 ) Transfers between classes — (2,613 ) (2,613 ) — — 2,613 2,613 Net realized/unrealized gains (losses) (3) 33 (6,828 ) (6,795 ) (16,747 ) — (143 ) (16,890 ) Purchases (3) 990 63,060 64,050 246,256 — 1,129 247,385 Sales (3) (1,990 ) (28,715 ) (30,705 ) (95,305 ) — (3,230 ) (98,535 ) Settlements (3) — (6,059 ) (6,059 ) (19,031 ) — — (19,031 ) Reorganization Transaction - Transfers out to CIFC LLC $ — $ (36,778 ) $ (36,778 ) $ (281,868 ) $ — $ (1,156 ) $ (283,024 ) Estimated fair value, end of period $ — $ 739 $ 739 $ — $ — $ — $ — Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ — $ (78 ) $ (78 ) $ — $ — $ — $ — CIFC LLC and CIFC Corp. Level 3 Financial Assets For the Year Ended December 31, 2014 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 510 $ — $ 510 $ 1,706,290 $ 16,220 $ 93,516 $ 1,816,026 Transfers into Level 3 (1) — — — 355,793 — — 355,793 Transfers out of Level 3 (2) (3) — — — (296,059 ) — — (296,059 ) Transfers in due to consolidation or acquisition 1,008 — 1,008 32,523 — 5,321 37,844 Transfers between classes (498 ) — (498 ) 498 — — 498 Net realized/unrealized gains (losses) (3) (53 ) (311 ) (364 ) (55,695 ) 350 9,136 (46,209 ) Purchases (3) — 7,915 7,915 1,884,265 — 1,910 1,886,175 Sales (3) — — — (412,444 ) (16,092 ) (19,022 ) (447,558 ) Settlements (3) — — — (697,284 ) — (20,888 ) (718,172 ) Estimated fair value, end of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ (23 ) $ (311 ) $ (334 ) $ (46,579 ) $ (28 ) $ 679 $ (45,928 ) Explanatory Notes: ______________________________ (1) Transfers in represent loans currently valued by a third-party pricing service using composite prices determined using less than two quotes, an internally developed pricing model or broker quotes and that were previously marked by a third-party pricing service using composite prices determined from two or more quotes. (2) Transfers out represent loans previously valued by an internally developed pricing model, broker quotes, or a third-party pricing service using composite prices determined using less than two quotes and are now being marked by a third-party pricing service using composite prices determined from two or more quotes. (3) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out for the year ended December 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Net realized/unrealized gains (losses), purchases, sales and settlements for the twelve months ended December 31, 2015 , also reflect the deconsolidation. CIFC LLC and CIFC Corp. Level 3 Financial Liabilities For the Year Ended December 31, 2015 For the Year Ended December 31, 2014 Contingent Liabilities Long-term Debt of Consolidated Entities Total Contingent Liabilities Long-term Debt of Consolidated Entities Total (In thousands) Estimated fair value, beginning of period $ 12,668 $ 12,049,034 $ 12,061,702 $ 16,961 $ 10,484,975 $ 10,501,936 Sale of investments in Consolidated CLOs (1) — — — — 20,601 20,601 Transfer in due to consolidation — — — — 101,694 101,694 Transfer out due to deconsolidation or sale (2)(3) — (12,049,034 ) (12,049,034 ) — — — Net realized/unrealized (gains) losses (2) 2,210 — 2,210 2,932 8,995 11,927 Purchases (2) — — — — 70,567 70,567 Issuances (2) — — — — 4,526,984 4,526,984 Settlements (2)(4) (6,540 ) — (6,540 ) (7,225 ) (3,164,782 ) (3,172,007 ) Estimated fair value, end of period $ 8,338 $ — $ 8,338 $ 12,668 $ 12,049,034 $ 12,061,702 Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period $ 2,210 $ — $ 2,210 $ 2,932 $ 230,011 $ 232,943 Explanatory Notes: __________________________ (1) Represents the Company's sales of its residual interests in the Consolidated CLOs. The sale removes the requirement to consolidate the CLOs, therefore, debt and/or subordinated notes of the CLOs are no longer eliminated in consolidation. (2) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out for the year ended December 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Net realized/unrealized gains (losses), purchases, sales and settlements for the twelve months ended December 31, 2015 , also reflect the deconsolidation. (3) Pursuant to the adoption of ASU 2014-13, the Long-term Debt of Consolidated Entities have been remeasured in accordance with the new guidance. (See Note 3 for details). (4) For Contingent Liabilities, amount represents payments made and due related to the contingent liabilities from the merger with Legacy CIFC (Note 10 ). Fair Value Methodologies of Financial Instruments The following is a description of the Company's valuation methodologies for financial instruments measured at fair value by class as required by ASC Topic 820, including the general classification of such instruments pursuant to the valuation hierarchy. Credit Funds —Amounts include the Company's investment in unconsolidated credit funds where the Company co-invests with third-party investors. The fair value of investments in credit funds are generally determined based on the Company's proportionate share of the net asset value ("NAV") of the fund. Investors in the Company’s open-ended credit funds may redeem their interests, at any time, within 30 days after notice. Investors in the Company’s closed-end credit funds generally cannot redeem. The Company estimates that closed-end funds are expected to liquidate over 2 to 5 years. The Company has no unfunded commitments in its open-ended and closed-end credit funds. Pursuant to the adoption of ASU 2015-07, the Company's investments in credit funds have been excluded from the fair value hierarchy table. See Note 3 . Loans —Loans are generally valued via a third-party pricing service. The value represents a composite of the mid-point in the bid-ask spread of broker quotes or is based on the composite price of a different tranche of the same or similar security if broker quotes are unavailable for the specific tranche the Company owns. The third-party pricing service provides the number of quotes used in determining the composite price, a factor that the Company uses in determining the observability level of the inputs to the composite price. When the fair value of the loan investments is based on a composite price determined using two or more quotes the composite price is considered to be based on significant observable inputs and classified as Level 2 within the fair value hierarchy. When the fair value of certain loan investments is based on a composite price determined using less than two quotes, the composite price is considered to be based on significant unobservable inputs. In these instances, the Company performs certain procedures on a sample basis to determine that composite prices approximate fair market value. Alternative methodologies are used to value the loans such as a comparable company pricing model (an internally developed model using composite or other observable comparable market inputs) or an internally developed model using data including unobservable market inputs. Accordingly, loans valued using alternative methodologies are classified as Level 3 within the fair value hierarchy. Corporate Bonds —Corporate bonds are generally valued via a third-party pricing service. The inputs to the valuation include recent trades, discount rates and forward yield curves. Although the valuation model inputs used by third-party pricing services are generally obtained from active markets and are observable, third-party pricing services do not provide sufficient visibility into their pricing models. When a value is unavailable, the Company uses an internally developed discounted cash flow model that includes unobservable market inputs or broker quotes. Accordingly corporate bonds are classified as Level 3 within the fair value hierarchy. Structured Products & Other —Structured Products and Other primarily represents the fair value of investments in CIFC and third-party managed CLOs and warehouses. These assets are generally valued via a third-party pricing service. The inputs to the valuation include recent trade information, discount rates, forward yield curves, and loan level information (including loan loss, recovery and default rates, prepayment speeds and other security specific information obtained from the trustee and other service providers related to the product being valued). Although the inputs used in the third-party pricing service's valuation model are generally obtained from active markets, the third-party pricing service does not provide a detailed analysis for each security valued. The Company performs certain procedures on a sample basis to determine that prices approximate fair market value. When a value from a third-party pricing service is unavailable, the value may be based on an internally developed discounted cash flow model which includes unobservable market inputs or by broker quote. Inputs to the internally developed model include the structure of the product being valued, estimates related to loan default, recovery and discount rates. Accordingly these assets are classified as Level 3 within the fair value hierarchy. The adoption of ASU 2015-02, resulted in the deconsolidation of 30 CLOs and the Senior Secured Corporate Loan fund on a modified retrospective basis (as of January 1, 2015). As of December 31, 2015 , the Company consolidated 2 CLOs, and 2 credit funds. In addition, included in Structured Products and Other are (i) equity securities not listed for trading on a national exchange ("Non-listed Equity Securities") received on certain loan restructurings within our portfolio and (ii) on occasion, warehouse total return swaps ("TRS", Note 7 ). Similar to the fair value of loans, Non-listed Equity Securities are valued using a third-party pricing service. When the fair value of a Non-listed Equity Security is determined using two or more quotes, it is classified as Level 2 within the fair value hierarchy, and when the fair value is determined using less than two quotes, it is classified as Level 3 within the fair value hierarchy. The fair value of a warehouse TRS is calculated as the sum of (i) the change in fair value of the reference obligations (SSCLs are valued at a composite of the mid-point in the bid-ask spread of broker quotes) since they became reference obligations, (ii) net realized gains (losses) on reference obligations sold during the period and (iii) interest income earned on the reference obligations, less an amount equal to LIBOR plus an agreed upon margin on the outstanding notional amount of the reference obligations. The warehouse TRS values are classified as Level 2 within the fair value hierarchy. Contingent Liabilities —The fair value of contingent liabilities is based on a discounted cash flow model. The model is based on projections of the relevant future management fee cash flows and utilizes both observable and unobservable inputs in the determination of fair value. Significant inputs to the valuation model include the structure of the underlying CLO and estimates related to loan default, recovery and discount rates. Contingent liabilities are classified as Level 3 within the fair value hierarchy. Long-Term Debt of the Consolidated CLOs & Warehouses —Long-term debt of the Consolidated CLOs and warehouses consists of debt and subordinated notes of the Consolidated CLOs and warehouses. Prior to the adoption of ASU 2014-13, the fair value of the debt and subordinated notes of the Consolidated CLOs or warehouses were valued via a third-party pricing service. The inputs to the valuation included recent trade information, discount rates, forward yield curves, and loan level information (including loan loss, recovery and default rates, prepayment speeds and other security specific information obtained from the trustee and other service providers related to the product being valued). Although the inputs used in the third-party pricing service's valuation model were generally obtained from active markets, the third-party pricing service does not provide a detailed analysis for each security valued. The Company performed certain procedures on a sample basis to determine that prices approximated fair market value. When a value from a third-party pricing service was unavailable, the value was based on an internally developed discounted cash flow model which included unobservable market inputs or by broker quote. Inputs to the internally developed model included the structure of the product being valued, estimates related to loan default, recovery and discount rates. Accordingly, the fair value of the debt and subordinated notes of the Consolidated CLOs or Warehouses were classified as Level 3 within the fair value hierarchy. Pursuant to the adoption ASU 2014-13, the fair value of the financial liabilities are no longer measured using a third party pricing service and are excluded from the fair value hierarchy. Financial liabilities are measured as: (1) the sum of the fair value of the financial assets and the carrying value of any non-financial assets that are incidental to the operations of the CLOs less (2) the sum of the fair value of any beneficial interests retained by the reporting entity (other than those that represent compensation for services) and the Company’s carrying value of any beneficial interests that represent compensation for services (Note 3 ). Quantitative Information about Level 3 Assets & Liabilities The disclosure provided below provides quantitative information about the significant unobservable inputs used in the valuation of the contingent liabilities of Legacy CLOs (see Note 10 ). December 31, 2015 December 31, 2015 December 31, 2014 Impact of Increase in Input on Fair Value Financial Liabilities Fair Value (in thousands) Valuation Technique Significant Unobservable Input Range Range Contingent Liabilities $ 8,338 Discounted cash flows Discount rate (2) 6.7% -12.0% 1.2%-12.5% Decrease Default rate (3) 2.0% 2.0% Decrease Recovery rate (3) 70% 70% Increase Pre-payment rate (3) 40% 35-40% Decrease Reinvestment spread of assets above LIBOR 3.0% -3.8% 3.0-3.8% Increase Reinvestment price of assets 100.0 100.0 Increase Explanatory Notes: ____________________________ (1) The impact of a decrease in input would have the opposite impact to the fair value as that presented in the table. (2) The discount rate varies by type of management fee (senior management fee, subordinated management fee, or incentive fee), the priority of that management fee in the waterfall of the CLO and the relative risk associated with the respective management fee cash flow projections. Amounts are presented as a spread over LIBOR . (3) Generally an increase in the default rate would be accompanied by a directionally opposite change in assumption for the recovery and pre-payment rates. Carrying Value and Estimated Fair Value of Financial Assets and Liabilities The Company has not elected the fair value option for certain financial liabilities. A summary of the carrying value and estimated fair value of those liabilities are as follows: As of December 31, 2015 As of December 31, 2014 Carrying Value Estimated Fair Value Carrying Value (3) Estimated Fair Value (In thousands) Financial liabilities: Long-term debt: Junior Subordinated Notes (1)(3) $ 118,259 $ 57,371 $ 118,170 $ 57,314 Senior Notes (2)(3) $ 37,902 $ 40,000 n/a n/a Explanatory Note: ________________________________ (1) The Junior Subordinated Notes include both the March and October Junior Subordinated Notes (Note 11 ). The estimated fair values of the Junior Subordinated Notes were determined using a discounted cash flow model which utilizes significant unobservable inputs, including discount rates, yield and forward LIBOR curve assumptions. This methodology is classified as Level 3 within the fair value hierarchy. (2) On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which is carried at its outstanding principal balance net of debt issuance costs (Note 11 ). The estimated fair value of the Senior Notes approximates issuance price from November 2, 2015. (3) Pursuant to the adoption of ASU 2015-03 the carrying value has been adjusted to reflect the presentation of debt issuance costs as a direct deduction from the related liability for all periods presented in accordance with amended guidance on simplifying the presentation of such costs. The carrying value of all of the following approximate the fair value of the financial instruments and are considered Level 1 in the fair value hierarchy: cash and cash equivalents, restricted cash and cash equivalents, due from brokers, receivables and due to brokers. In addition, amounts in the Consolidated Entities related to due from brokers, restricted cash and cash equivalents, receivables and due to brokers also approximate the fair value of the instruments and are all considered Level 1 in the fair value hierarchy. Investments of the Consolidated Entities are diversified over multiple industries. In addition, applicable agreements governing CLOs and warehouses outline industry concentration limits. Management does not believe the Company has any significant concentration risks.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Total Return Swap —During the three months ended March 31, 2015 , the Company, through a warehouse SPV, entered into a TRS agreement with a third-party bank, in lieu of financing. Under the TRS agreement, the Company received the income on the reference obligations (including gains on terminated reference obligations) and paid the counterparty an amount equal to three month LIBOR plus a margin on the outstanding notional amount of the reference obligations and losses on terminated reference obligations. The Company also consolidated this warehouse SPV as it was a VIE in which the Company was deemed the primary beneficiary (Note 2 ). During the year ended December 31, 2015 the warehouse agreement was terminated in conjunction with the issuance of a CLO. During the three months ended March 31, 2016 , the Company recognized $(0.3) million net (loss) related to other derivative instruments and during the three months ended March 31, 2015 , the Company recognized net income of $0.4 million related to the TRS agreement.	Derivative Instruments and Hedging Activities Total Return Swap —During the year ended December 31, 2015 , the Company, through a warehouse SPV, entered into a TRS agreement with a third-party bank, in lieu of financing. Under the TRS agreement, the Company received the income on the reference obligations (including gains on terminated reference obligations) and paid the counterparty an amount equal to three month LIBOR plus a margin on the outstanding notional amount of the reference obligations and losses on terminated reference obligations. The Company also consolidated this warehouse SPV as it was a VIE in which the Company was deemed the primary beneficiary (Note 2 ). The adoption of ASU 2015-02 did not change our consolidation assessment. During the year ended December 31, 2015 , the warehouse agreement was terminated in conjunction with the issuance of a CLO. During the year ended December 31, 2014 , the Company, through a warehouse SPV, entered into a separate TRS agreement with a third-party bank which was terminated in the same year. The Company recognized net income related to the TRS agreements and other derivative instruments during the years ended December 31, 2015 and 2014 of $3.6 million and $2.0 million , respectively.

INTANGIBLE ASSETS (Notes)

INTANGIBLE ASSETS (Notes)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	Intangible Assets Intangible assets are comprised of the following: Weighted-Average Remaining Estimated Useful Life Gross Carrying Amount (1) Accumulated Amortization (2) Net Carrying Amount (In years) (In thousands) March 31, 2016: Investment management contracts 2.1 $ 40,405 $ 37,527 $ 2,878 Referral arrangement 3.5 3,810 2,286 1,524 Non-compete agreements 2.0 1,284 917 367 Trade name 5.0 1,250 626 624 Total intangible assets $ 46,749 $ 41,356 $ 5,393 December 31, 2015: Investment management contracts 2.4 $ 71,113 $ 67,040 $ 4,073 Referral arrangement 3.8 3,810 2,096 1,714 Non-compete agreements 2.2 1,535 1,122 413 Trade name 5.2 1,250 593 657 Total intangible assets $ 77,708 $ 70,851 $ 6,857 Explanatory Notes: _________________________________ (1) Gross carrying amounts as of March 31, 2016 have been reduced to reflect fully impaired and amortized assets. (2) During the three months ended March 31, 2016 and 2015 , the Company recorded amortization expense on its intangible assets of $0.9 million and $2.1 million , respectively. The following table presents expected amortization expense of the existing intangible assets: (In thousands) 2016 (nine months remaining) $ 1,651 2017 1,726 2018 1,449 2019 411 2020 125 Thereafter 31 $ 5,393 During the three months ended March 31, 2016 and 2015, the Company received notice from holders of certain CLOs exercising their right to call the CLOs for redemption. As a result of these calls, the Company recorded impairment charges of $0.5 million and $0.3 million , respectively, to fully impair intangible assets associated with these management contracts.

CONTINGENT LIABILITIES (Notes)

CONTINGENT LIABILITIES (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Business Combination, Contingent Consideration Arrangements [Abstract]
CONTINGENT LIABILITIES AT FAIR VALUE	Contingent Liabilities —In addition to the consideration paid in connection with the merger with Commercial Industrial Finance Corp. ("Legacy CIFC") (the "Merger"), the Company was required to pay CIFC Parent Holdings LLC ("CIFC Parent") a portion of incentive fees earned on six CLOs managed by CIFC Asset Management LLC (the "Legacy CIFC CLOs"). The terms of these payments were as follows: (i) the first $15.0 million of incentive fees received (which was fulfilled in 2013), (ii) 50% of any incentive fees in excess of $15.0 million in aggregate received from the Legacy CIFC CLOs by the combined company over ten years from April 13, 2011 (the "Merger Closing Date") and (iii) payments relating to the present value of any such incentive fees from the Legacy CIFC CLOs that remain payable to the combined company after the tenth anniversary of the Merger Closing Date. During both the three months ended March 31, 2016 and 2015 , the Company made total payments of $1.0 million related to these contingent liabilities. As of March 31, 2016 , there are no remaining payments under item (i) and the Company made cumulative payments of $ 16.6 million under (ii) to date. In addition, the Company also assumed contingent liabilities during the Merger that primarily represent contingent consideration related to Legacy CIFC’s acquisition of CypressTree Investment Management, LLC ("CypressTree") in December 2010. The assumed contingent liabilities are based on a fixed percentage of certain management fees from the CypressTree CLOs. These fixed percentages vary by CLO. The minimum fixed percentage was 39% since July 2013. As of March 31, 2016 , there were no payments due. During the three months ended March 31, 2015 , the Company made payments of $0.6 million , related to these contingent liabilities.	Contingent Liabilities —In addition to the consideration paid in connection with the merger with Commercial Industrial Finance Corp. ("Legacy CIFC") (the "Merger"), the Company was required to pay CIFC Parent Holdings LLC ("CIFC Parent") a portion of incentive fees earned on six CLOs managed by CIFC Asset Management LLC (the "Legacy CIFC CLOs"). The terms of these payments were as follows: (i) the first $15.0 million of incentive fees received (which was fulfilled in 2013), (ii) 50% of any incentive fees in excess of $15.0 million in aggregate received from the Legacy CIFC CLOs by the combined company over ten years from April 13, 2011 (the "Merger Closing Date") and (iii) payments relating to the present value of any such incentive fees from the Legacy CIFC CLOs that remain payable to the combined company after the tenth anniversary of the Merger Closing Date. During the years ended December 31, 2015 and 2014 , the Company made total payments of $2.5 million and $6.6 million , respectively, related to these contingent liabilities. As of December 31, 2015 , there are no remaining payments under item (i) and the Company made cumulative payments of $ 15.6 million under (ii) to date. In addition, the Company also assumed contingent liabilities during the Merger that primarily represent contingent consideration related to Legacy CIFC’s acquisition of CypressTree Investment Management, LLC ("CypressTree") in December 2010. The assumed contingent liabilities are based on a fixed percentage of certain management fees from the CypressTree CLOs. These fixed percentages vary by CLO. The minimum fixed percentage was 39% since July 2013. During the year ended December 31, 2015 , the Company made its final payment of $1.1 million satisfying its contingent consideration. During the year ended December 31, 2014 , the Company made payments of $0.6 million , related to these contingent liabilities. Deferred Purchase Payments —In March 2010, the Company entered into an acquisition and investment agreement with DFR Holdings and CNCIM pursuant to which it agreed to acquire all of the equity interests in Columbus Nova Credit Investments Management, LLC ("CNCIM") from DFR Holdings. The consideration for the CNCIM acquisition included deferred purchase payments totaling $7.5 million in cash payable in five equal annual installments beginning in December 2010. During the year ended December 31, 2014 , the Company paid its final installment of $1.5 million , leaving no amounts outstanding under this agreement.

LONG-TERM DEBT (Notes)

LONG-TERM DEBT (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
LONG-TERM DEBT	Long-Term Debt The following table summarizes the long-term debt: March 31, 2016 December 31, 2015 Par Carrying Value Weighted Average Borrowing Rate Weighted Average Remaining Maturity Par Carrying Value Weighted Average Borrowing Rate Weighted Average Remaining Maturity (In thousands) (In years) (In thousands) (In years) Recourse Debt: March Junior Subordinated Notes (1) $ 95,000 $ 93,476 3.20 % 19.6 $ 95,000 $ 93,456 2.90 % 19.8 October Junior Subordinated Notes (2) 25,000 24,806 4.12 % 19.6 25,000 24,803 3.82 % 19.8 Senior Notes (3) 40,000 37,955 8.50 % 9.6 40,000 37,902 8.50 % 9.8 Total Recourse Debt $ 160,000 $ 156,237 4.67 % 17.1 $ 160,000 $ 156,161 4.44 % 17.3 Non-Recourse Consolidated Entities' debt: Consolidated CLOs and Other (4) $ 1,360,725 $ 1,312,058 0.03 % 9.0 $ 1,385,226 $ 1,308,558 0.02 % 9.1 Total Non-recourse Debt $ 1,360,725 $ 1,312,058 0.03 % 9.0 $ 1,385,226 $ 1,308,558 0.02 % 9.1 Explanatory Notes: _______________________________ (1) March Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 2.58% until maturity on October 30, 2035. Prior to April 30, 2015, these notes bore interest at an annual rate of 1% . (2) October Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 3.50% and mature on October 30, 2035. (3) The Senior Notes bear interest at 8.5% and mature on October 30, 2025. As of January 1, 2016, the Company temporarily did not meet certain registration requirements under the indenture (and associated agreements) and incurred additional interest of 25 basis points per annum for the period ended March 31, 2016. Each 90 days thereafter interest will increase by 25 basis points (capped at 1% per annum) until cured. The Company has cured these conditions and expects the additional interest to end in July 2016. (4) The subordinated notes of the Consolidated CLOs do not have a stated interest rate and have been excluded from the calculation of the weighted average borrowing rate. As of March 31, 2016 and December 31, 2015 , long-term debt of the Consolidated CLOs and Other includes $151.7 million and $153.1 million of credit fund debt, respectively. Non-Recourse Consolidated Entities' Debt —The debt and equity holders only have recourse to the total assets of the respective Consolidated Entity's assets. Consolidated Entities— As of March 31, 2016 , the Company consolidated 2 CLOs and 2 credit funds (Note 2 ). During the three months ended March 31, 2016 , the Consolidated Entities distributed $4.9 million to the holders of their subordinated notes. During the three months ended March 31, 2015 , the Consolidated Entities paid down $16.1 million of their outstanding debt, made net borrowings under revolving credit facilities of $33.1 million , and distributed $0.7 million to the holders of their subordinated notes. The carrying value of the assets of the Consolidated CLOs, which are the only assets to which the Consolidated CLO debt holders have recourse for repayment was $1.2 billion as of both March 31, 2016 and December 31, 2015 , respectively.	Long-Term Debt The following table summarizes the long-term debt of CIFC LLC and CIFC Corp. (1): December 31, 2015 December 31, 2014 Par Carrying Value (2) Weighted Average Borrowing Rate Weighted Average Remaining Maturity Par Carrying Value (2) Weighted Average Borrowing Rate Weighted Average Remaining Maturity (In thousands) (In years) (In thousands) (In years) Recourse Debt: March Junior Subordinated Notes (3) $ 95,000 $ 93,456 2.90 % 19.8 $ 95,000 $ 93,377 1.00 % 20.8 October Junior Subordinated Notes (4) 25,000 24,803 3.82 % 19.8 25,000 24,793 3.73 % 20.8 Senior Notes (5) 40,000 37,902 8.50 % 9.8 — — — % — Total Recourse Debt of CIFC LLC and CIFC Corp. $ 160,000 $ 156,161 4.44 % 17.3 $ 120,000 $ 118,170 1.57 % 20.8 Non-Recourse Consolidated Entities' debt: Consolidated CLOs and Other (6) $ 1,385,226 $ 1,308,558 0.02 % 9.1 $ 12,760,565 $ 11,998,034 1.77 % 8.7 Warehouses (7) — — — % — 51,000 51,000 1.89 % — Total Non-recourse Debt of CIFC LLC $ 1,385,226 $ 1,308,558 0.02 % 9.1 $ 12,811,565 $ 12,049,034 1.77 % 8.7 Total Non-recourse Debt of CIFC Corp. $ — $ — — % 0 $ 12,811,565 $ 12,049,034 1.77 % 8.7 Explanatory Notes: ________________________________ (1) As a result of the Reorganization Transaction (see Note 1 and Note 16 ), CIFC Corp. made a non-cash distribution in kind of certain of its subsidiary entities holding certain investment assets (e.g. investments in CLOs and Funds) to CIFC LLC. As such, as of December 31, 2015 , CIFC Corp. did not consolidate any CLOs. (2) Pursuant to the adoption of ASU 2015-03, the carrying values of recourse debt has been presented net of debt issuance costs. (3) March Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 2.58% until maturity on October 30, 2035. Prior to April 30, 2015, these notes bore interest at an annual rate of 1% . (4) October Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 3.50% and mature on October 30, 2035. (5) The Senior Notes bear interest at 8.5% and mature on October 30, 2025. (6) Pursuant to the adoption of ASU 2014-13, Long-term debt of the Consolidated CLOs has been remeasured in accordance with the new guidance (Notes 3 and 5 ). The subordinated notes of the Consolidated CLOs do not have a stated interest rate and have been excluded from the calculation of the weighted average borrowing rate. As of December 31, 2015 , long-term debt of the Consolidated CLOs includes $153.1 million of credit funds. (7) Long-term debt of warehouses not held by the Company is recorded at fair value. The fair value excludes the preferred shares of warehouses not held by the Company. As warehouses are generally terminated before the end of their terms, they are excluded from the calculation of the weighted average remaining maturity. Recourse Debt Junior Subordinated Notes —The $95.0 million aggregate principal amount of unsecured junior subordinated notes (the "March Junior Subordinated Notes") are governed by a junior subordinated indenture (the "March Note Indenture"), dated March 4, 2010, between the Company and the trustee. The $25.0 million aggregate principal amount of unsecured junior subordinated notes (the "October Junior Subordinated Notes") are governed by a junior subordinated indenture (the "October Note Indenture"), dated October 20, 2010, between the Company and the trustee. The March Note Indenture and October Note Indenture contain certain restrictive covenants including a restricted payments covenant that restricts the Company's ability to pay dividends or make distributions in respect of the Company's equity securities, subject to a number of exceptions and conditions. These covenants also limit CIFC Corp.'s ability to make distributions to its related parties, including CIFC LLC. Senior Notes —On November 2, 2015, CIFC Corp. issued $40.0 million in aggregate principal amount of its 8.5% unsecured senior notes due October 30, 2025 (the “Senior Notes”) guaranteed by CIFC LLC and certain subsidiaries. The Senior Notes indenture includes certain restrictive covenants including a restricted payments covenant that restricts the Company's ability to pay dividends or make distributions in respect of the Company's equity securities, subject to a number of exceptions and conditions. Prior to October 30, 2020 (the "Non-call Date"), we, at our option, may redeem all or a portion of the notes at a redemption price equal to (i) the principal amount of the notes being redeemed plus (ii) accrued and unpaid interest through the date of redemption plus (iii) a make whole payment. Any time on and after October 30, 2020, 2021, 2022, 2023 and thereafter, we, at our option, may redeem, all or a portion of the notes at a redemption price equal to 104.250% , 102.834% , 101.417% , or 100.00% , respectively, of the aggregate principal amount of the notes being redeemed plus accrued and unpaid interest to the date of redemption. Further, upon a change of control event, as defined by the indenture, the issuer must offer to repurchase the notes at 101.00% . Total debt issuance costs related to the issuance of the Senior Notes of $2.1 million was capitalized and recorded as a contra liability, resulting in a reduction of the total principal balance. Debt issuance costs are amortized over the term of the notes. During the year ended December 31, 2015 , the Company recorded an aggregate interest expense of $0.5 million related to these notes. Non-Recourse Consolidated Entities' Debt —The debt and equity holders only have recourse to the total assets of the respective Consolidated Entity's assets. Consolidated Entities— Upon adoption of ASU 2015-02, the Company deconsolidated 30 CLOs on a modified retrospective basis (as of January 1, 2015). As of December 31, 2015 , the Company consolidated 2 CLOs and 2 credit funds (Notes 2 and 3 ). During the year ended December 31, 2015 , the Consolidated Entities issued $484.2 million of debt, paid down $152.5 million of their outstanding debt, made net borrowings under revolving credit facilities of $153.6 million , and distributed $18.3 million to the holders of their subordinated notes. During the year ended December 31, 2014 , the Consolidated Entities issued $3.3 billion of debt, paid down $1.6 billion of their outstanding debt, made net borrowings under revolving credit facilities of $19.6 million , and distributed $230.0 million to the holders of their subordinated notes. The carrying value of the assets of the Consolidated CLOs, which are the only assets to which the Consolidated CLO debt holders have recourse for repayment was $1.2 billion and $12.6 billion as of December 31, 2015 and 2014 , respectively.

EQUITY (Notes)

EQUITY (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
EQUITY	Equity Common Shares— During the three months ended March 31, 2016 and 2015 , the Company declared aggregate distributions of $0.34 and $0.10 per common share, respectively. Subsequent to quarter end, the Company's board of directors declared a cash distribution of $0.25 per share, composed of a $0.10 per share quarterly distribution and a $0.15 per share special distribution. The distribution will be paid on May 24, 2016 to shareholders of record as of the close of business on May 17, 2016 (Note 16 ). In connection with the Reorganization Transaction, two holders of record (the “Dissenting Shareholders”) with approximately 2.0 million shares of common stock of CIFC Corp. in aggregate (“Dissenting Shares”) reserved their right to seek appraisal of their shares (Note 16 ). Distributions payable to the Dissenting Shareholder will be withheld by the Company. Treasury Share/Share Repurchases— During the three months ended March 31, 2016 , the Company repurchased 75,296 common shares in open-market transactions for an aggregate cost (including transaction costs) of $0.4 million with an average price per share of $5.75 . There were no repurchases made during the three months ended March 31, 2015 . As of March 31, 2016 , the Company was authorized to repurchase up to $3.8 million of its common shares under the share repurchase program. Share-based Compensation— As of March 31, 2016 , there was $14.8 million of estimated unrecognized compensation expense related to unvested share options and RSU awards, net of estimated forfeitures. The remaining weighted average vesting periods of share options and RSUs are 0.28 years and 2.79 years, respectively. Share Options — The following table summarizes certain share options activity: Number of Shares Underlying Share Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (In years) (In thousands) Outstanding at December 31, 2015 3,285,313 $ 6.69 4.64 $ 788 Exercised (1) (50,000 ) $ 4.83 Outstanding at March 31, 2016 3,235,313 $ 6.72 4.39 $ 2,659 Exercisable at March 31, 2016 2,980,731 $ 6.56 4.13 $ 2,658 Vested and Expected to vest at March 31, 2016 (2) 3,219,855 $ 6.71 4.38 $ 2,659 Explanatory Notes: ________________________________ (1) During the three months ended March 31, 2016 and 2015 , total intrinsic value of options exercised was $33.5 thousand and $78.5 thousand , respectively. (2) Includes a reduction to outstanding options at period end for expected forfeiture rate over the life of the options. RSUs— For RSU awards that are not entitled to distribution equivalent rights, the fair value of the awards was determined using the Company's grant date common share price less the present value of the expected distributions forgone during the vesting period. For RSU awards that are entitled to distribution equivalent rights, the fair value of the awards was determined using the Company's grant date common share price. During the three months ended March 31, 2016 the Company granted to employees and directors 1,093,015 RSUs. These awards generally vest over 3 years , with 33% vesting at the end of the grant year and the remainder of the award vesting ratably on a quarterly basis for the remaining 2 years (until the last vesting date as stated in the award agreement). The following table summarizes restricted share unit activity: For the Three Months Ended March 31, 2016 Weighted Average Grant Date Fair Value Restricted share units outstanding, beginning of period 2,033,510 $ 7.69 Granted (1)(2) 1,093,015 $ 5.78 Vested (240,611 ) $ 8.09 Forfeited (3) (5,988 ) $ 8.35 Restricted share units outstanding, end of period 2,879,926 $ 6.69 Explanatory Notes: _________________________________ (1) Weighted average grant date fair value excludes 360,000 of performance based RSUs for which performance hurdles will be determined in the future. (2) Shareholder approval is required to increase the number of shares available under the Company’s 2011 Stock and Incentive Plan to accommodate these new grants. (3) The forfeited share-based awards are returned to the grant pool for reissuance under the 2011 Stock Plan.	Equity Common Shares— During each of the years ended December 31, 2015 and 2014 , the Company paid aggregate annual distributions of $0.40 per common share. Subsequent to year end, the Company's board of directors declared an aggregate cash distribution of $0.34 per share; composed of a quarterly cash distribution of $0.10 per share and a special distribution of $0.24 per share issued in order to defray a portion of the U.S. Federal income tax liability of shareholders arising from the Reorganization Transaction. The distribution will be paid on April 15, 2016 to shareholders of record as of the close of business on April 1, 2016 (Note 19 ). During 2014, the Company issued 4,132,231 shares of the Company's common shares on the conversion of $25.0 million of Convertible Notes to DFR Holdings. Treasury Share/Share Repurchases— On March 29, 2012, the Board of Directors ("the Board") approved a $10.0 million share repurchase program. Shares may be repurchased from time to time and in such amounts as market conditions warrant, subject to price ranges set by management and regulatory considerations. The share repurchase program does not have an expiration date. During the year ended December 31, 2015 , the Company repurchased 168,008 common shares in open-market transactions for an aggregate cost (including transaction costs) of $1.2 million with an average price per share of $6.85 . The Company's Board authorized the constructive retirement of all outstanding treasury shares though December 31, 2015 , or 298,452 treasury shares with an aggregate cost of $2.1 million . As a result, the cost of the retired shares were reclassified from Treasury shares to Additional paid-in capital on the Consolidated Balance Sheet. There were no repurchases made during the year ended December 31, 2014 . As of December 31, 2015 , the Company was authorized to repurchase up to 4.2 million of its common shares under the share repurchase program. Share-based Compensation— The Company is authorized to issue up to 6,181,929 common shares pursuant to the CIFC Corp. 2011 Stock Option and Incentive Plan (the “2011 Stock Plan”). Stock options and restricted stock units ("RSUs") are issued under the 2011 Stock Plan. As of December 31, 2015 , an aggregate of 296,540 shares remain available for issuance under the 2011 Stock Plan. During the years ended December 31, 2015 and 2014 , the Company recorded total share-based compensation expense from stock options and RSUs of $5.3 million and $2.6 million , respectively. As of December 31, 2015 , there was $10.0 million of estimated unrecognized compensation expense related to unvested stock option and RSU awards, net of estimated forfeitures. The remaining weighted average vesting period of stock options and RSUs are 0.39 years and 2.71 years, respectively. Stock Options — The following table summarizes certain Stock Options activity: Number of Shares Underlying Share Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (In years) (In thousands) Outstanding at December 31, 2014 3,635,313 $ 6.68 5.16 $ 6,146 Exercised (1) (103,906 ) $ 5.00 Forfeited (2) (159,531 ) $ 7.25 Expired (2) (86,563 ) $ 7.09 Outstanding at December 31, 2015 3,285,313 $ 6.69 4.64 $ 788 Exercisable at December 31, 2015 2,872,540 $ 6.50 4.21 $ 744 Vested and Expected to vest at December 31, 2015 (3) 3,263,392 $ 6.68 4.62 $ 786 Explanatory Notes: ________________________________ (1) During the year ended December 31, 2015 and 2014 , total intrinsic value of options exercised was $0.2 million and $0.3 million , respectively. (2) Forfeited and expired equity-based awards are returned to the grant pool for reissuance under the 2011 Stock Plan. (3) Includes a reduction to outstanding options at period end for expected forfeiture rate over the life of the options. Management estimates the fair value of share-based awards using the Black-Scholes option pricing model. The Company did not grant any stock options during the year ended December 31, 2015 . The weighted average assumptions as of the grant date related to share-based awards (by period issued) are listed in the table below: For the Years Ended December 31, 2014 Expected dividend yield 4.54 % Expected volatility 42.65 % Risk-free interest rate 1.96 % Expected life (years) 5.77 The share-based awards granted generally have exercise prices equal to the fair market value of the share on the date of grant, a contractual term of 10 years and a vesting period of approximately 4 years. In addition to awards with service conditions, certain of the awards also contain performance conditions. The expected dividend yield is the expected annual dividend as a percentage of the fair market value of the shares on the date of grant. The expected dividend yield represents what the Company expected to distribute in the foreseeable future at the grant date. The expected volatility is estimated by considering the historical volatility of the Company's shares, the historical and implied volatility of peer companies and the Company's expectations of volatility for the expected life of the share-based awards. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for an instrument which closely approximates the expected option term. The expected option term is the number of years management estimates that the share-based award will be outstanding prior to exercise. The expected life of the share-based awards issued is determined using the simplified method. RSUs— Each RSU outstanding represents the right to receive one CIFC LLC common share, subject to acceleration upon the occurrence of certain specified events. The number of RSUs may be adjusted, as determined by the Board, in connection with any share dividends, share splits, subdivisions or consolidations of shares (including reverse share splits) or similar changes in the Company's capitalization. RSU awards are generally not entitled to distributions, therefore the fair value of these awards were determined using the Company's grant date common share price less the present value of the expected distributions forgone during the vesting period. For certain awards, RSUs are entitled to dividend equivalent rights and, as such, the fair value of the awards was determined using the Company's grant date common share price. During the years ended December 31, 2015 and 2014 , the Company granted to employees and directors 1,138,787 and 1,318,152 RSUs, respectively. During 2015 and 2014, the Company granted the following RSUs: • an aggregate of 340,000 and 362,070 , respectively, service-based RSUs to certain employees and executives. These awards generally vest over 3 years , with 33% vesting at the end of the grant year and the remainder of the award vesting ratably on a quarterly basis for the remaining 2 years (until the last vesting date as stated in the award agreement). • an aggregate of 720,000 and 180,000 , respectively, performance-based RSUs which cliff vest according to the terms of the RSU agreements. • an aggregate of 65,868 and 76,082 , respectively, service-based RSUs to the Company's directors. The 2015 awards vest no later than July 1, 2016 and the 2014 awards vested on June 5, 2015. • Further, on December 31, 2015, the Company modified its June 13, 2014 service-based RSUs granted to the Company's Co-Presidents. The acceleration of vesting resulted in an additional $0.4 million of share based compensation expense recognized during the current year. The 600,000 service-based RSUs are composed of five tranches of 120,000 , with 20% of the first tranche initially vesting on December 31, 2014, 20% of the second tranche initially vesting on December 31, 2015, 20% of the third tranche initially vesting on December 31, 2016, 20% of the fourth tranche initially vesting on December 31, 2017 and 20% of the fifth tranche initially vesting on December 31, 2018 (each such 20% initial vesting date, the “Initial Vest Date” in respect of such tranche); following the Initial Vest Date in respect of each tranche, 5% of the remaining RSUs will vest quarterly over the four year period following the Initial Vest Date in respect of such tranche. The modification accelerated the vesting of the third, fourth and fifth tranche to occur in full on March 31, 2017, 2018 and 2019, respectively. The first and second tranche of these awards will continue to vest according to the terms of the original RSU agreement. • On October 2, 2014, the Company granted 100,000 service-based RSUs to certain employees which are comprised of five equal 20,000 RSU tranches, with 20% of the first tranche initially vesting on December 31, 2014 and 20% of each of the remaining four tranches initially vesting on one year anniversaries of the initial vesting date of previous tranches (each such 20% initial vesting date, the “Initial Vest Date” in respect of such tranche). Following the Initial Vest Date in respect of each tranche, 5% of the remaining RSUs will vest quarterly over the four year period following the Initial Vest Date in respect of such tranche. • Prior to 2014, the Company granted 15,000 RSUs. These awards vest over four years with 25% initially vesting at the end of the grant year and the remainder of the award vesting annually for the three years remaining (until the last vesting date as stated in the award agreement). The following table summarizes restricted stock unit activity: For the Year Ended December 31, 2015 Weighted Average Grant Date Fair Value Restricted stock units outstanding, beginning of period 1,248,444 $ 8.01 Granted (1) 1,138,787 $ 7.21 Vested (286,592 ) $ 8.07 Forfeited (2) (67,129 ) $ 7.76 Restricted stock units outstanding, end of period 2,033,510 $ 7.69 Explanatory Notes: _________________________________ (1) Weighted average grant date fair value excludes 540,000 of performance based RSUs for which performance hurdles will be determined in the future. (2) The forfeited share-based awards are returned to the grant pool for reissuance under the 2011 Stock Plan. Profits Interests Awards— During June 2011, CIFC Parent (a related party until December 18, 2013) granted certain employees of the Company profits interests in CIFC Parent which are fully vested. The profits interests share in approximately 5% of the residual value of CIFC Parent above a specified value. These liability-based awards were measured at fair value on the grant date and are remeasured at each reporting date, with changes in fair value recorded as compensation expense, until the award is paid (or settled) by CIFC Parent. Management's estimate of the fair value of these awards was based on a discounted cash flow model that includes estimates related to the performance of CIFC Parent. During the years ended December 31, 2015 and 2014 , the Company recorded a non-cash compensation expense of $0.2 million and $0.1 million , respectively, in "Employee compensation and benefits" on the Consolidated Statements of Operations related to the amortization and remeasurement of the value of the awards. Warrants— In December 2013, DFR Holdings purchased warrants (the "DFR Warrants") from GE Capital Equity Investments, Inc. ("GE Capital"). The DFR Warrants generally maintain the same terms as the warrants originally held by GE Capital. The DFR Warrants provide the holder the right to purchase 2.0 million common shares while the original warrants issued to GE Capital provided the holder the right to purchase a newly created class of non-voting share. The DFR Warrants have an exercise price of $6.375 per share, are immediately exercisable and were scheduled to expire on September 24, 2014. The terms of the warrants were extended in 2014 for one year (or September 24, 2015) in exchange for $0.2 million cash. In 2015, the terms of the warrants were extended to January 24, 2017 in exchange for $0.4 million cash. Both extensions were recorded to "Additional paid-in-capital" on the Consolidated Balance Sheet.

EARNINGS (LOSS) PER SHARE (Note

EARNINGS (LOSS) PER SHARE (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	Earnings (Loss) Per Share The following table presents the calculation of basic and diluted earnings (loss) per share ("EPS"): For the Three Months Ended March 31, 2016 (1) 2015 (In thousands, except per share data) Net income (loss) attributable to the Company - basic & diluted $ 4,505 $ 5,428 Weighted-average shares - basic 25,355 25,279 Share options (2) 283 697 Warrants (3) — 458 Unvested RSUs 171 138 Weighted-average shares - diluted 25,809 26,572 Earnings (loss) per share Basic $ 0.18 $ 0.21 Diluted $ 0.17 $ 0.20 Explanatory Notes: ________________________________ (1) Earnings per share basic and diluted has been calculated assuming that the Dissenting Shares are outstanding. Excluding the Dissenting Shares, total weighted-average shares basic and diluted would be 23,328,479 and 23,783,188 , respectively, and earnings per share basic and diluted would be $0.19 (Note 10 and 16 ). (2) For the three months ended March 31, 2016 and 2015 , the Company excluded anti-dilutive share options from the calculation of diluted EPS of $2.0 million and of $0.7 million , respectively. (3) For the three months ended March 31, 2016 , the warrants were anti-dilutive for purposes of EPS. The warrants expire on January 24, 2017 (Note 13 ).	Earnings (Loss) Per Share The following table presents the calculation of basic and diluted earnings (loss) per share ("EPS"): CIFC LLC CIFC Corp. CIFC LLC & CIFC Corp. For the Years Ended December 31, 2015 2015 2014 (In thousands, except per share data) Net income (loss) attributable to the Company - basic & diluted $ 334 $ 384 $ 8,381 Weighted-average shares - basic 25,315 25,315 22,909 Stock options (1) 590 590 674 Warrants (2) 311 311 500 Unvested RSUs 198 198 85 Weighted-average shares - diluted 26,414 26,414 24,168 Earnings (loss) per share Basic $ 0.01 $ 0.02 $ 0.37 Diluted $ 0.01 $ 0.01 $ 0.35 Explanatory Notes: ________________________________ (1) For the years ended December 31, 2015 and 2014 , the Company excluded anti-dilutive stock options from the calculation of diluted EPS of 1.1 million and of 0.8 million , respectively. (2) On September 24, 2015, the term of the warrants was extended to January 24, 2017 (Note 12 ).

INCOME TAXES (Notes)

INCOME TAXES (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes The following table summarizes the Company's tax provision: For the Three Months Ended March 31, 2016 2015 (In thousands) Income (loss) before income taxes $ 5,785 $ 8,769 Income tax expense $ 1,278 $ 3,087 Effective income tax rate (1) 22.1 % 35.2 % Explanatory Note: ________________________________ (1) During 2015, the Company adopted new accounting standards that impacted Income (loss) before income taxes for the three months ended March 31, 2015 (Note 2 ). The change has resulted in the change of the effective income tax rate. In addition, for the three months ended March 31, 2016 and 2015 deferred income tax expense (benefit) was $1.3 million and $(0.2) million , respectively. As a result of the Reorganization Transaction, investment income earned by CIFC is not subject to tax at the entity level. The difference between the statutory tax rate and the effective tax rate, as well as the change in the effective tax rate compared to the prior year was primarily attributable to the Reorganization Transaction and to income/(losses) from non-controlling interests of Consolidated VIEs. The income/(losses) from non-controlling interests of Consolidated VIEs are included in book income/(loss) before income taxes but are not taxable income/(loss) to CIFC. During the three months ended March 31, 2016 , there were no material changes to the Company’s uncertain tax positions and the Company believes there will be no significant increases or decreases to the uncertain tax positions within 12 months of the reporting date.	Income Taxes The Company is treated as a partnership for income tax purposes and is therefore not subject to U.S. federal, state and local income taxes. CIFC Corp., a wholly-owned subsidiary of the Company, is subject to U.S. federal, state and local corporate income taxes. The components of income tax expense (benefit) are as follows: For the Year Ended December 31, 2015 2014 (In thousands) Current: Federal $ 14,777 $ 13,899 State and local (588 ) 4,327 Total current expense 14,189 18,226 Deferred: Federal 4,361 (2,672 ) State and local 6,689 6,604 Total deferred expense (benefit) 11,050 3,932 Total income tax expense (benefit) $ 25,239 $ 22,158 The following table reconciles the Company's effective tax rate to the U.S. federal statutory tax rate: For the Year Ended December 31, 2015 2014 Statutory U.S. federal income tax rate 35.00 % 35.00 % Reconciling items: Income passed through to common shareholders and non-controlling interest holders (1) (0.84 )% 73.69 % State income taxes, net of federal effect (0.67 )% 31.92 % Nondeductible expenses 2.74 % 26.22 % Effect of tax law changes 24.02 % 64.67 % Valuation allowance release — % (2.88 )% PTP Conversion adjustments 35.04 % — % Other 1.04 % (3.32 )% Effective income tax rate (2) 96.33 % 225.30 % Explanatory Notes: ________________________________ (1) Includes income that is not taxable to the Company. Such income is directly taxable to the non-controlling interest holders in the Consolidated CLOs. (2) The effective tax rate is calculated on "Income (loss) before income tax expense (benefit)". The tax effects of temporary differences that result in significant deferred tax assets and deferred tax liabilities are as follows: For the Year Ended December 31, 2015 2014 (In thousands) Deferred tax assets: Intangible assets and goodwill $ 33,160 $ 39,946 State net operating loss carryforwards 16,043 16,530 Federal net operating loss carryforwards 8,607 9,070 Other 6,340 10,872 Gross deferred tax asset 64,150 76,418 Less: Valuation allowance 15,428 15,040 Deferred tax asset 48,722 61,378 Deferred tax liabilities: Long-term debt 2,372 2,663 Other 1,925 3,240 Deferred tax liability 4,297 5,903 Net deferred tax asset $ 44,425 $ 55,475 The Company evaluates its deferred income tax assets to determine if valuation allowances are required. The determination is based on all available evidence using a "more likely than not" standard. The Company’s ability to realize deferred tax assets depends upon the existence of sufficient taxable income of the appropriate character (ordinary vs. capital) within the carryback or carryforward periods. The Company considered all sources of taxable income in its deferred tax asset realization analysis. As of December 31, 2015 and 2014 , the Company recognized a cumulative valuation allowance of $15.4 million and $15.0 million , respectively. The valuation allowance was recorded because management assessed that it is more likely than not that only a portion of the deferred tax asset will be realized. The valuation allowance relates to deferred tax assets for state net operating loss carryforwards. Ownership Changes— The Company experienced an ownership change on June 9, 2010 as a result of the acquisition of CNCIM and on April 13, 2011 as the result of the Merger causing a limitation on the annual use of its NOLs, Net Capital Losses, and certain recognized built-in losses. The annual limitation amount is approximately $1.3 million resulting from the June 9, 2010 ownership change. The Merger resulted in an annual limitation of approximately $9.5 million . However, as of December 31, 2012, the combined federal NOL carryforwards related to Legacy CIFC were fully utilized. For tax purposes, the Company also experienced other ownership changes as a result of transactions undertaken during 2013 and 2014. The Company does not anticipate further restrictions to the Section 382 limitation resulting from these transactions. As of December 31, 2015 , the Company had tax attribute carryforwards for US federal income tax purposes of $24.6 million which will expire in 2034 if not used. As noted above, these tax attributes are subject to the annual limitation of $1.3 million . Losses that exceed the Section 382 Limitation in any year will continue to be allowed as carryforwards for the remainder of the carryforward period; however, if the carryforward period for any losses expires before that loss is fully utilized, the unused portion will provide no future benefit. The Company had NOL carryforwards for state income tax purposes as follows: Illinois - $268.5 million , New York State - $28.3 million , and New York City - $17.4 million , expiring in 2023, 2035, and 2034 respectively. The Company believes that it is more likely than not that Illinois and New York State NOLs will not provide any future benefit. Accordingly, we have recorded full valuation allowances related to these NOLs. In April 2015, New York City enacted tax legislation that is effective retroactively for tax years beginning on or after January 1, 2015. As the result of the legislation, the Company expects a significant decrease in the portion of its income taxable in New York City. The Company recorded an expense of $6.3 million to reflect both a reduction in the value of its deferred tax assets and the establishment of a $0.4 million valuation allowance associated with New York City NOLs as a result of the law change. In addition, the effective tax rate for the year ended December 31, 2014 was impacted by an expense of $6.4 million from the write-down of deferred tax assets related to the New York State law change. As part of the Reorganization Transaction, CIFC Corp. distributed ownership of certain subsidiary entities holding certain investment assets, including investments in CLOs and funds, to CIFC LLC. As a result of the distribution, the Company recorded an expense of $ 3.8 million to reflect a reduction in the value of its deferred tax assets associated with the Reorganization Transaction. CIFC Corp. and its subsidiaries filed income tax returns in the U.S. and various state jurisdictions. As of December 31, 2015 , CIFC Corp.’s 2012 through 2014 U.S. federal income tax returns are open for Internal Revenue Service and state taxing authorities’ examination under the three-year statute of limitations. CIFC Corp. is currently under audit by the Internal Revenue Service for the years ended December 31, 2011 and 2012 and New York City for the years ended December 31, 2011 through December 31, 2013. The Company does not believe that the outcome of these audits will require the Company to record reserves for uncertain tax positions or that the outcome will have a material impact on the Consolidated Financial Statements for the years ended December 31, 2015 and 2014 . The Company recognizes tax positions in the financial statements only when it is more likely than not that the position will be sustained on examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized on settlement. A liability is established for differences between positions taken in a tax return and amounts recognized in the financial statements. During the year ended December 31, 2015 , the Company’s unrecognized tax benefit related to tax positions taken in prior periods increased by $0.3 million , excluding related interest and penalties. If the unrecognized tax benefits were recognized, the annual effective tax rate would reduce by a de minimis amount. The Company does not believe that it will have a material change in its unrecognized tax benefits during the coming year. The Company recognizes interest and penalties accrued related to unrecognized tax positions in General, Administrative, and Other Expenses. During the years ended December 31, 2015 and 2014 , no interest or penalties were accrued.

RELATED PARTY TRANSACTIONS (Not

RELATED PARTY TRANSACTIONS (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	Related Party Transactions DFR Holdings— As of March 31, 2016 and December 31, 2015 , DFR Holdings owned approximately 18.8 million of the Company’s shares which was approximately 74% of the Company's outstanding shares and 70% on a fully diluted basis (in each case including the Dissenting Shares (Note 10 and 16 )). Accordingly, DFR Holdings received cash distributions from the Company (see Note 10 ). In addition, DFR Holdings also holds warrants which provide DFR Holdings the right to purchase 2.0 million voting common shares. These warrants are scheduled to expire on January 24, 2017. Under the Company's consulting agreement with DFR Holdings, DFR Holdings provides CIFC with ongoing advisory services such as the participation in financial, tax and strategic planning/budgeting, investor interface, new product initiatives, fund raising and recruiting. During both the three months ended March 31, 2016 and 2015 , the Company paid $2.0 million and expensed $0.5 million in connection with the consulting agreement. In addition, pursuant to the Third Amended and Restated Stockholders Agreement with DFR Holdings dated December 2, 2013, the Company agreed to nominate to the Company's Board of Directors six directors designated by DFR Holdings (the "DFR Designees"). The number of directors that can be designated by DFR Holdings will be reduced in the event that DFR Holdings decreases its ownership (on a diluted basis) in CIFC. If DFR Holdings' ownership falls below 5% , it will lose the right to designate any director. During both the three months ended March 31, 2016 and 2015 , the DFR Designees earned an aggregate $0.2 million related to their service as directors of CIFC. Other— As of March 31, 2016 and December 31, 2015 , a board member held $1.0 million of income notes in one of the Company's sponsored CLOs, CIFC Funding 2013-II, Ltd., through an entity in which he is a 50% equity holder. Funds— All CIFC investments in credit funds are related party transactions (Note 2 ). As of both March 31, 2016 and December 31, 2015 , key employees and directors of the Company (including related entities) invested an aggregate of $4.7 million in four CIFC managed Funds. Key employees are not charged management or incentive fees, where applicable, on their investment. Directors were charged management and/or incentive fees, where applicable, similar to certain other investors. For all periods presented in 2016 and 2015 , these fees were de minimis.	Related Party Transactions DFR Holdings— As of December 31, 2015 and 2014 , DFR Holdings owned approximately 18.8 million of the Company’s shares. Accordingly, DFR Holdings received quarterly distributions from the Company (see Note 12 ). In addition, the DFR Warrants provide DFR Holdings the right to purchase 2.0 million voting common shares which were scheduled to expire on September 24, 2015. On September 24, 2015, the terms of the warrants were extended to January 24, 2017 in exchange for cash of $0.4 million (Note 12 ). In August 2014, the Company entered into a consulting agreement with DFR Holdings whereby DFR Holdings agreed to provide CIFC with ongoing advisory services such as the participation in financial, tax and strategic planning/budgeting, investor interface, new product initiatives, fund raising and recruiting. During both the years ended December 31, 2015 and 2014 , the Company expensed $2.0 million in connection with the consulting agreement. In addition, pursuant to the Third Amended and Restated Stockholders Agreement with DFR Holdings dated December 2, 2013, the Company agreed to nominate to the Company's Board of Directors six directors designated by DFR Holdings (the "DFR Designees"). The number of directors that can be designated by DFR Holdings will be reduced in the event that DFR Holdings decreases its ownership (on a diluted basis) in CIFC. If DFR Holdings' ownership falls below 5% , it will lose the right to designate any director. During the years ended December 31, 2015 and 2014 , the DFR Designees earned an aggregate $0.7 million and $0.8 million , respectively, related to their services as directors of CIFC. Related party transactions in 2014 included $1.9 million of interest expense paid to DFR Holdings on the Convertible Notes which were subsequently converted into 4,132,231 shares. Other— As of December 31, 2015 and 2014 , a board member held $1.0 million of income notes in one of the Company's sponsored CLOs, CIFC Funding 2013-II, Ltd., through an entity in which he is a 50% equity holder. Funds— All CIFC general partner's investments in credit funds are related party transactions (Note 2 ). As of December 31, 2015 and 2014 , key employees and directors of the Company (including related entities) invested an aggregate of $4.7 million in four CIFC managed Funds. Key employees are not charged management or incentive fees, where applicable, on their investment. Directors were charged management and/or incentive fees, where applicable, similar to certain other investors. For all periods presented in 2015 and 2014 , these fees were de minimis. Investment in Wholly-Owned Subsidiaries of CIFC LLC— As part of the Reorganization Transaction, CIFC Corp. made a non-cash distribution in kind of certain of its subsidiary entities holding certain investment assets (e.g. investments in CLOs and Funds) to other wholly-owned subsidiaries of CIFC LLC. CIFC Corp. (i) made a non-cash distribution in kind of $110.0 million (of which $42.0 million was cash held by CIFC Corp.) and (ii) retained 85,000 non-voting Series A Preferred Units ("Preferred Units") issued by certain wholly-owned subsidiaries of CIFC LLC with a par value of $85.0 million . The Preferred Units will pay annual distributions of 3.5% , must be redeemed or retired by January 29, 2026, and at the election of the holder, are callable four years after issuance at par plus accrued and unpaid distributions. As of December 31, 2015 , CIFC Corp.'s investment in the Preferred Units was reported in "Investment in wholly-owned subsidiaries of CIFC LLC" on the Consolidated Balance Sheet of CIFC Corp. This is an intercompany transaction and has been eliminated upon consolidation of CIFC LLC's Consolidated Financial Statements. Senior Notes— During 2015 , CIFC Corp. issued $40.0 million of Senior Notes which were fully and unconditionally guaranteed by CIFC LLC and certain subsidiaries (see Note 18 ).

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	Commitments and Contingencies Legal Proceedings —In the ordinary course of business, the Company may be subject to legal and regulatory proceedings and examinations that are generally incidental to the Company's ongoing operations. While there can be no assurance of the ultimate disposition of any such proceedings or examinations, the Company does not believe their disposition will have a material adverse effect on the Company's Condensed Consolidated Financial Statements. Lease Commitments —During both the three months ended March 31, 2016 and 2015 , total occupancy expense was $0.4 million . Unfunded Loan Commitments — Certain of the Consolidated Entities have assets which include delayed draw term loans and unfunded revolvers. Unfunded loan commitments represent the estimated fair value of those delayed draw term loans and unfunded revolvers. As of March 31, 2016 and December 31, 2015 , the Consolidated Entities had unfunded loan commitments of $1.3 million and $1.0 million , respectively. The timing and amount of additional funding on these loans are at the discretion of the borrower, to the extent the borrower satisfies certain requirements and provides certain documentation.	Commitments and Contingencies Legal Proceedings —In the ordinary course of business, the Company may be subject to legal and regulatory proceedings and examinations that are generally incidental to the Company's ongoing operations. While there can be no assurance of the ultimate disposition of any such proceedings or examinations, the Company does not believe their disposition will have a material adverse effect on the Company's Consolidated Financial Statements. Lease Commitments —During both the years ended December 31, 2015 and 2014 , total occupancy expense was $1.7 million . The future minimum commitments under the Company's lease agreement are as follows: (In thousands) 2016 $ 1,607 2017 1,607 2018 1,680 2019 1,752 2020 1,752 Thereafter 3,506 $ 11,904 Unfunded Loan Commitments —As part of the Reorganization Transaction (Notes 1 & 16 ), CIFC Corp. made a non-cash distribution in kind of certain of its subsidiary entities holding certain investment assets (e.g. investments in Funds) to CIFC LLC. As of December 31, 2015 , CIFC Corp. did not consolidate any CLOs. Unfunded loan commitments disclosed below relate to CIFC LLC as of December 31, 2015 and 2014 and CIFC Corp. as of December 31, 2014 . Certain of the Consolidated Entities have assets which include delayed draw term loans and unfunded revolvers. Unfunded loan commitments represent the estimated fair value of those delayed draw term loans and unfunded revolvers. As of December 31, 2015 and 2014 , the Consolidated Entities had unfunded loan commitments of $1.0 million and $5.9 million , respectively. The timing and amount of additional funding on these loans are at the discretion of the borrower, to the extent the borrower satisfies certain requirements and provides certain documentation.

FINANCIAL INFORMATION FOR SUBSI

FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS AND NON-GUARANTORS (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Guarantees [Abstract]
Guarantees [Text Block]	Note 15 —Financial Information for Subsidiary Guarantors and Non-Guarantor Subsidiaries under the Company's Senior Notes CIFC Corp. issued Senior Notes which are deemed publicly registered notes. As such, the Company is required to present condensed consolidating financial information for CIFC and its consolidated subsidiaries within the notes to the consolidated financial statements in accordance with the criteria established for parent companies in the SEC’s Regulation S-X, Rule 3-10(f). Obligations under the Senior Notes are fully and unconditionally guaranteed by CIFC and named guarantors (the “Guarantor”). Under the terms of the indenture, certain consolidated entities such as consolidated CLOs, warehouses and funds ("Investment Vehicles") do not guarantee the notes. Further, the indenture provides that so long as entities representing at least 90% of the Company’s consolidated total assets (other than assets represented by Investment Vehicles) are guarantors, the Company may designate entities within its corporate structure as non-guarantor entities ("Unrestricted Entities" and together with Investment Vehicles, "Non-Guarantors"). The following condensed consolidating financial information presents the Consolidating Balance Sheets, Statement of Operations, Comprehensive Income (Loss) and Cash Flows of the Guarantor, Non-Guarantor subsidiaries (or Investment Vehicles) and the eliminations necessary to arrive at the information for the Company on a consolidated basis as of March 31, 2016 and December 31, 2015 , and for each of the three months ended March 31, 2016 and 2015 . The principal elimination entries eliminate investments in subsidiaries and intercompany balances and transactions. Certain immaterial balances have been reclassified in the prior year financial statements to conform to the current year presentation (Note 2 ). Th e condensed consolidating financial information below assumes that the Senior Notes were guaranteed by CIFC as of January 1, 2015. Further, all Consolidated Entities are considered Non-Guarantor subsidiaries. Condensed Consolidating Balance Sheets (Unaudited) March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ 1,094 $ 382 $ 50,535 $ — $ — $ 52,011 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 159,177 — (81,830 ) 77,347 Intercompany investments in subsidiaries 177,449 104,281 113,497 — (395,227 ) — Receivables 154 3,546 7,909 — (2,684 ) 8,925 Prepaid and other assets — 1,172 1,645 — — 2,817 Deferred tax asset, net — 43,110 — — — 43,110 Equipment and improvements, net — — 4,562 — — 4,562 Intangible assets, net — 5,393 — — — 5,393 Goodwill — 66,549 9,451 — — 76,000 Subtotal 178,697 224,433 348,470 — (479,741 ) 271,859 Assets of Consolidated Entities: Restricted cash and cash equivalents — — — 80,592 — 80,592 Due from brokers — — — 24,293 — 24,293 Investments — — — 1,346,963 — 1,346,963 Receivables — — — 4,185 — 4,185 Prepaid and other assets — — — 187 — 187 Total assets of Consolidated Entities — — — 1,456,220 — 1,456,220 TOTAL ASSETS $ 178,697 $ 224,433 $ 348,470 $ 1,456,220 $ (479,741 ) $ 1,728,079 LIABILITIES Distributions payable $ 8,670 $ — $ — $ — $ — $ 8,670 Accrued and other liabilities 1,322 4,172 9,126 — (2,169 ) 12,451 Contingent liabilities — — 8,142 — — 8,142 Long-term debt — 156,237 — — — 156,237 Subtotal 9,992 160,409 17,268 — (2,169 ) 185,500 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — — 49,350 — 49,350 Accrued and other liabilities — — — 623 (394 ) 229 Interest payable — — — 4,595 (121 ) 4,474 Long-term debt — — — 1,360,255 (48,197 ) 1,312,058 Total Non-Recourse Liabilities of Consolidated Entities — — — 1,414,823 (48,712 ) 1,366,111 TOTAL LIABILITIES 9,992 160,409 17,268 1,414,823 (50,881 ) 1,551,611 EQUITY (Note 10) Common shares 25 1 — — (1 ) 25 Intercompany Preferred Units (1) — — 85,000 — (85,000 ) — Treasury shares (435 ) — — — — (435 ) Additional paid-in capital 994,771 885,377 662,399 — (1,547,781 ) 994,766 Retained earnings (deficit) (825,656 ) (821,354 ) (416,197 ) — 1,237,551 (825,656 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY 168,705 64,024 331,202 — (395,231 ) 168,700 Consolidated Fund Equity/Noncontrolling interests (Note 2) — — — 41,397 (33,629 ) 7,768 TOTAL EQUITY 168,705 64,024 331,202 41,397 (428,860 ) 176,468 TOTAL LIABILITIES AND EQUITY $ 178,697 $ 224,433 $ 348,470 $ 1,456,220 $ (479,741 ) $ 1,728,079 Explanatory Note: _________________________________ (1) CIFC Corp. holds 85.0 million of intercompany non-voting series A preferred units that bear an annual rate of 3.5% . Consolidating Balance Sheets (Unaudited) December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ — $ 1,392 $ 56,576 $ — $ — $ 57,968 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 152,455 — (81,759 ) 70,696 Intercompany investments in subsidiaries 170,174 120,896 61,004 — (352,074 ) — Receivables 785 295 27,242 — (21,247 ) 7,075 Prepaid and other assets — 1,621 352 — — 1,973 Deferred tax asset, net — 44,425 — — — 44,425 Equipment and improvements, net — — 4,866 — — 4,866 Intangible assets, net — 6,232 625 — — 6,857 Goodwill — 66,549 9,451 — — 76,000 Subtotal 170,959 241,410 314,265 — (455,080 ) 271,554 Assets of Consolidated Entities: Restricted cash and cash equivalents — — — 94,018 — 94,018 Due from brokers — — — 25,910 — 25,910 Investments — — — 1,351,403 — 1,351,403 Receivables — — — 4,109 — 4,109 Prepaid and other assets — — — 209 — 209 Total assets of Consolidated Entities — — — 1,475,649 — 1,475,649 TOTAL ASSETS $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 LIABILITIES Due to brokers $ — $ 61 $ — $ — $ — $ 61 Accrued and other liabilities 50 24,185 14,808 — (20,646 ) 18,397 Contingent liabilities — — 8,338 — — 8,338 Long-term debt — 156,161 — — — 156,161 Subtotal 50 180,407 23,146 — (20,646 ) 182,957 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — — 71,603 — 71,603 Accrued and other liabilities — — — 631 (438 ) 193 Interest payable — — — 5,257 (167 ) 5,090 Long-term debt — — — 1,357,095 (48,537 ) 1,308,558 Total Non-Recourse Liabilities of Consolidated Entities — — — 1,434,586 (49,142 ) 1,385,444 TOTAL LIABILITIES 50 180,407 23,146 1,434,586 (69,788 ) 1,568,401 EQUITY (Note 10) Common shares 25 25 — — (25 ) 25 Intercompany Preferred Units (1) — — 85,000 — (85,000 ) — Additional paid-in capital 992,425 992,419 528,946 — (1,521,371 ) 992,419 Retained earnings (deficit) (821,541 ) (931,441 ) (322,827 ) — 1,254,318 (821,491 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY 170,909 61,003 291,119 — (352,078 ) 170,953 Consolidated Fund Equity / Noncontrolling interests (Note 2) — — — 41,063 (33,214 ) 7,849 TOTAL EQUITY 170,909 61,003 291,119 41,063 (385,292 ) 178,802 TOTAL LIABILITIES AND EQUITY $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 Explanatory Note: _________________________________ (1) CIFC Corp. holds 85.0 million of intercompany non-voting series A preferred units that bear an annual rate of 3.5% . Consolidating Statements of Operations (Unaudited) For The Three Months Ended March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 21,521 $ — $ (1,706 ) $ 19,815 Interest income from investments — 744 3,217 — (3,028 ) 933 Interest income - Consolidated Entities — — — 18,990 — 18,990 Total net revenues — 744 24,738 18,990 (4,734 ) 39,738 Expenses Employee compensation and benefits — — 9,514 — — 9,514 Share-based compensation 130 130 2,121 — — 2,381 Professional services 308 885 879 — — 2,072 General and administrative expenses 132 644 1,741 — — 2,517 Depreciation and amortization — 839 457 — — 1,296 Impairment of intangible assets — — 531 — — 531 Corporate interest expense — 1,957 744 — (744 ) 1,957 Expenses - Consolidated Entities — — — 2,094 (1,706 ) 388 Interest expense - Consolidated Entities — — — 8,595 (175 ) 8,420 Total expenses 570 4,455 15,987 10,689 (2,625 ) 29,076 Other Gain (Loss) Net gain (loss) on investments — — 1,677 — (1,406 ) 271 Net gain (loss) on contingent liabilities — — (364 ) — — (364 ) Net gain (loss) on investments - Consolidated Entities — — — 2,600 — 2,600 Net gain (loss) on liabilities - Consolidated Entities — — — (10,487 ) 3,103 (7,384 ) Intercompany net gain (loss) on investments in subsidiaries 5,075 5,859 871 — (11,805 ) — Net other gain (loss) 5,075 5,859 2,184 (7,887 ) (10,108 ) (4,877 ) Income (loss) before income taxes 4,505 2,148 10,935 414 (12,217 ) 5,785 Income tax (expense) benefit — (1,278 ) — — — (1,278 ) Net income (loss) 4,505 870 10,935 414 (12,217 ) 4,507 Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (414 ) 412 (2 ) Net income (loss) attributable to CIFC LLC $ 4,505 $ 870 $ 10,935 $ — $ (11,805 ) $ 4,505 Consolidating Statements of Operations (Unaudited) For The Three Months Ended March 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 21,833 $ — $ (219 ) $ 21,614 Interest income from investments — — 2,736 — (129 ) 2,607 Interest income - Consolidated Entities — — 823 1,933 — 2,756 Total net revenues — — 25,392 1,933 (348 ) 26,977 Expenses Employee compensation and benefits — — 8,564 — — 8,564 Share-based compensation — 142 1,538 — — 1,680 Professional services — 1,078 848 — — 1,926 General and administrative expenses — 958 1,339 — — 2,297 Depreciation and amortization — 1,821 588 — — 2,409 Impairment of intangible assets — 281 — — — 281 Corporate interest expense — 494 — — — 494 Expenses - Consolidated Entities — — 15 1,472 (219 ) 1,268 Interest expense - Consolidated Entities — — 231 513 — 744 Total expenses — 4,774 13,123 1,985 (219 ) 19,663 Other Gain (Loss) Net gain (loss) on investments — — 939 — 254 1,193 Net gain (loss) on contingent liabilities — — (713 ) — — (713 ) Net gain (loss) on investments - Consolidated Entities — — 796 2,001 — 2,797 Net gain (loss) on liabilities - Consolidated Entities — — — (1,826 ) (434 ) (2,260 ) Net gain (loss) on other investments and derivatives - Consolidated Entities — — — 438 — 438 Intercompany net gain (loss) on investments in subsidiaries — 13,289 — — (13,289 ) — Net other gain (loss) — 13,289 1,022 613 (13,469 ) 1,455 Income (loss) before income taxes — 8,515 13,291 561 (13,598 ) 8,769 Income tax (expense) benefit — (3,087 ) — — — (3,087 ) Net income (loss) — 5,428 13,291 561 (13,598 ) 5,682 Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (561 ) 307 (254 ) Net income (loss) attributable to CIFC LLC $ — $ 5,428 $ 13,291 $ — $ (13,291 ) $ 5,428 Consolidating Statement of Comprehensive Income (Loss) (Unaudited) For The Three Months Ended March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ 4,505 $ 870 $ 10,935 $ 414 $ (12,217 ) $ 4,507 Other comprehensive income (loss) — — — — — — Comprehensive income (loss) 4,505 870 10,935 414 (12,217 ) 4,507 Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (414 ) 412 (2 ) Comprehensive income (loss) attributable to CIFC LLC $ 4,505 $ 870 $ 10,935 $ — $ (11,805 ) $ 4,505 Consolidating Statement of Comprehensive Income (Loss) (Unaudited) For The Three Months Ended March 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ — $ 5,428 $ 13,291 $ 561 $ (13,598 ) $ 5,682 Other comprehensive income (loss) — — — — — — Comprehensive income (loss) — 5,428 13,291 561 (13,598 ) 5,682 Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (561 ) 307 (254 ) Comprehensive income (loss) attributable to CIFC LLC $ — $ 5,428 $ 13,291 $ — $ (13,291 ) $ 5,428 Consolidating Statement of Cash Flows (Unaudited) For The Three Months Ended March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In Thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 4,505 $ 870 $ 10,935 $ 414 $ (12,217 ) $ 4,507 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 76 — — — 76 Share-based compensation 130 130 2,121 — — 2,381 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — (1,315 ) — 1,408 93 Intercompany net (gain) loss on investments in subsidiaries (5,075 ) (5,859 ) (871 ) — 11,805 — Depreciation and amortization — 839 457 — — 1,296 Impairment of intangible assets — — 531 — — 531 Deferred income tax expense (benefit) — 1,315 — — — 1,315 Excess tax benefits from share-based payment arrangements — 230 — — — 230 Consolidated Entities: Net (gain) loss on investments — — — (2,600 ) — (2,600 ) Net (gain) loss on liabilities — — — 10,487 (3,103 ) 7,384 Changes in operating assets and liabilities: Receivables 631 (3,120 ) 19,335 — (18,696 ) (1,850 ) Prepaid and other assets — 451 (1,299 ) — — (848 ) Due to brokers — (62 ) 1 — — (61 ) Accrued and other liabilities 1,142 (20,015 ) (5,194 ) — 18,606 (5,461 ) Consolidated Entities: Due from brokers — — — 1,616 — 1,616 Purchase of investments — — — (114,723 ) — (114,723 ) Sales of investments — — — 121,766 — 121,766 Receivables — — — (52 ) — (52 ) Due to brokers — — — (22,253 ) — (22,253 ) Accrued and other liabilities — — — (11 ) 43 32 Interest payable — — — (660 ) 44 (616 ) Net cash provided by (used in) operating activities 1,333 (25,145 ) 24,701 (6,016 ) (2,110 ) (7,237 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of investments — — (17,553 ) — 1,419 (16,134 ) Sales of investments — — 12,466 — (2,754 ) 9,712 Intercompany investments in subsidiaries — 22,474 (2,151 ) — (20,323 ) — Purchases of equipment and improvements — — (61 ) — — (61 ) Consolidated Entities: Change in restricted cash and cash equivalents — — — 13,426 — 13,426 Net cash provided by (used in) investing activities — 22,474 (7,299 ) 13,426 (21,658 ) 6,943 CASH FLOWS FROM FINANCING ACTIVITIES: Repurchases of common shares (435 ) — — — — (435 ) Intercompany contributions — 1,891 9,629 24 (11,544 ) — Intercompany distributions — — (32,073 ) (24 ) 32,097 — Proceeds from the exercise of options 241 — — — — 241 Payments for tax from the net delivery of restricted share units (45 ) — — — — (45 ) Payments on contingent liabilities — — (999 ) — — (999 ) Excess tax benefits from share-based payment arrangements — (230 ) — — — (230 ) Consolidated Entities: Distributions to noncontrolling interests — — — (83 ) — (83 ) Proceeds from issuance of long-term debt — — — 3,830 — 3,830 Payments made on long-term debt — — — (11,157 ) 3,215 (7,942 ) Net cash provided by (used in) financing activities (239 ) 1,661 (23,443 ) (7,410 ) 23,768 (5,663 ) Net increase (decrease) in cash and cash equivalents 1,094 (1,010 ) (6,041 ) — — (5,957 ) Cash and cash equivalents at beginning of period — 1,392 56,576 — — 57,968 Cash and cash equivalents at end of period $ 1,094 $ 382 $ 50,535 $ — $ — $ 52,011 Consolidating Statement of Cash Flows (Unaudited) For The Three Months Ended March 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ — $ 5,428 $ 13,291 $ 561 $ (13,598 ) $ 5,682 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 22 — — — 22 Share-based compensation — 142 1,538 — — 1,680 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — (225 ) — (255 ) (480 ) Intercompany net (gain) loss on investments in subsidiaries — (13,289 ) — — 13,289 — Depreciation and amortization — 1,821 588 — — 2,409 Impairment of intangible assets — 281 — — — 281 Deferred income tax expense (benefit) — (150 ) — — — (150 ) Excess tax benefits from share-based payment arrangements — (8 ) — — — (8 ) Consolidated Entities: Net (gain) loss on investments — — (796 ) (2,001 ) — (2,797 ) Net (gain) loss on liabilities — — — 1,826 434 2,260 Net other (gain) loss — — — (438 ) — (438 ) Changes in operating assets and liabilities: Due from brokers — — (974 ) — — (974 ) Receivables — 721 (3,163 ) — 2,903 461 Prepaid and other assets — 486 (1,489 ) — — (1,003 ) Due to brokers — — 6,245 — — 6,245 Accrued and other liabilities — 3,480 (7,920 ) — (2,514 ) (6,954 ) Consolidated Entities: Due from brokers — — 14,459 (4,111 ) — 10,348 Purchase of investments — — (55,017 ) (88,697 ) — (143,714 ) Sales of investments — — 47,462 21,677 — 69,139 Receivables — — (352 ) (86 ) — (438 ) Due to brokers — — (7,882 ) 55,950 — 48,068 Accrued and other liabilities — — 6 384 (390 ) — Interest payable — — (8 ) 18 — 10 Net cash provided by (used in) operating activities — (1,066 ) 5,763 (14,917 ) (131 ) (10,351 ) CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from the sale of management contracts — — — — — — Purchases of investments — — (78,632 ) — 65,439 (13,193 ) Sales of investments — — 57,449 — (22,148 ) 35,301 Intercompany investments in subsidiaries — (123,962 ) — — 123,962 — Intercompany distributions from subsidiaries — 123,962 — — (123,962 ) — Purchases of equipment and improvements — — (403 ) — — (403 ) Consolidated Entities: Change in restricted cash and cash equivalents — — 755 (55,628 ) — (54,873 ) Net cash provided by (used in) investing activities — — (20,831 ) (55,628 ) 43,291 (33,168 ) CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany contributions — — 123,962 — (123,962 ) — Intercompany distributions — — (123,962 ) — 123,962 — Proceeds from the exercise of options — 121 — — — 121 Payments for tax from the net delivery of restricted share units — (265 ) — — — (265 ) Payments on contingent liabilities — — (1,559 ) — — (1,559 ) Excess tax benefits from share-based payment arrangements — 8 — — — 8 Consolidated Entities: Contributions from noncontrolling interests — — — 14,712 (2,612 ) 12,100 Distributions to noncontrolling interests — — — (970 ) — (970 ) Proceeds from issuance of long-term debt — — — 73,777 10,323 84,100 Payments made on long-term debt — — — (16,974 ) (50,871 ) (67,845 ) Net cash provided by (used in) financing activities — (136 ) (1,559 ) 70,545 (43,160 ) 25,690 Net increase (decrease) in cash and cash equivalents — (1,202 ) (16,627 ) — — (17,829 ) Cash and cash equivalents at beginning of period — 2,156 57,134 — — 59,290 Cash and cash equivalents at end of period $ — $ 954 $ 40,507 $ — $ — $ 41,461	Note 18 —Financial Information for Subsidiary Guarantors and Non-Guarantor Subsidiaries under the Company's Senior Notes The Company is required to present condensed consolidating financial information for CIFC LLC and its consolidated subsidiaries within the notes to the consolidated financial statements in accordance with the criteria established for parent companies in the SEC’s Regulation S-X, Rule 3-10(f). During 2015 , CIFC Corp. issued Senior Notes that will be exchangeable for publicly registered notes with identical terms. Obligations under the Senior Notes are fully and unconditionally guaranteed by CIFC LLC and named guarantors (the “Guarantor”). Under the terms of the indenture, certain consolidated entities such as consolidated CLOs, warehouses and funds ("Investment Vehicles") do not guarantee the notes. Further, the indenture provides that entities representing at least 90% of the Company’s consolidated total assets (other than assets represented by Investment Vehicles) are guarantors, the Company may designate entities within its corporate structure as non-guarantor entities ("Unrestricted Entities" and together with Investment Vehicles, "Non-Guarantor"). The following condensed consolidating financial information presents the Consolidating Balance Sheets, Statement of Operations, Comprehensive Income (Loss) and Cash Flows of the Guarantor, Non-Guarantor subsidiaries (or Investment Vehicles) and the eliminations necessary to arrive at the information for the Company on a consolidated basis as of December 31, 2015 and 2014 , and for each year ended December 31, 2015 and 2014 . The principal elimination entries eliminate investments in subsidiaries and intercompany balances and transactions. Certain immaterial balances have been reclassified in the prior year financial statements to conform to the current year presentation (Note 2 ). Th e condensed consolidating financial information below assumes that the Senior Notes were guaranteed by CIFC LLC as of January 1, 2014. Further, all Consolidated Entities are considered Non-Guarantor subsidiaries. CIFC LLC AND ITS SUBSIDIARIES Consolidating Balance Sheets December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ — $ 1,392 $ 56,576 $ — $ — $ 57,968 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 152,455 — (81,759 ) 70,696 Intercompany investments in subsidiaries 170,174 35,896 61,004 — (267,074 ) — Intercompany investment in wholly-owned subsidiaries of CIFC LLC (Note 16) — 85,000 — — (85,000 ) — Receivables 785 295 27,242 — (21,247 ) 7,075 Prepaid and other assets — 1,621 352 — — 1,973 Deferred tax asset, net — 44,425 — — — 44,425 Equipment and improvements, net — — 4,866 — — 4,866 Intangible assets, net — 6,232 625 — — 6,857 Goodwill — 66,549 9,451 — — 76,000 Subtotal 170,959 241,410 314,265 — (455,080 ) 271,554 Assets of Consolidated Entities: Restricted cash and cash equivalents — — — 94,018 — 94,018 Due from brokers — — — 25,910 — 25,910 Investments — — — 1,351,403 — 1,351,403 Receivables — — — 4,109 — 4,109 Prepaid and other assets — — — 209 — 209 Total assets of Consolidated Entities — — — 1,475,649 — 1,475,649 TOTAL ASSETS $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 LIABILITIES Due to brokers $ — $ 61 $ — $ — $ — $ 61 Accrued and other liabilities 50 24,185 14,808 — (20,646 ) 18,397 Contingent liabilities — — 8,338 — — 8,338 Long-term debt — 156,161 — — — 156,161 Subtotal 50 180,407 23,146 — (20,646 ) 182,957 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — — 71,603 — 71,603 Accrued and other liabilities — — — 631 (438 ) 193 Interest payable — — — 5,257 (167 ) 5,090 Long-term debt — — — 1,357,095 (48,537 ) 1,308,558 Total Non-Recourse Liabilities of Consolidated Entities — — — 1,434,586 (49,142 ) 1,385,444 TOTAL LIABILITIES 50 180,407 23,146 1,434,586 (69,788 ) 1,568,401 EQUITY Common shares, par value $0.001: 500,000,000 shares authorized, 25,314,756 issued and 25,314,756 outstanding as of December 31, 2015 25 25 — — (25 ) 25 Intercompany Preferred Units (Note 16) — — 85,000 — (85,000 ) — Treasury shares, at cost: 130,444 shares as of December 31, 2014 — — — — — Additional paid-in capital 992,425 992,419 528,946 — (1,521,371 ) 992,419 Retained earnings (deficit) (821,541 ) (931,441 ) (322,827 ) — 1,254,318 (821,491 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY 170,909 61,003 291,119 — (352,078 ) 170,953 Consolidated Fund Equity / Noncontrolling interests (Note 2) — — — 41,063 (33,214 ) 7,849 TOTAL EQUITY 170,909 61,003 291,119 41,063 (385,292 ) 178,802 TOTAL LIABILITIES AND EQUITY $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 CIFC LLC AND ITS SUBSIDIARIES Consolidating Balance Sheets December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ — $ 2,156 $ 57,134 $ — $ — $ 59,290 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 80,115 — (41,416 ) 38,699 Intercompany investments in subsidiaries 156,053 — — (156,053 ) — Receivables — 721 5,759 — (4,345 ) 2,135 Prepaid and other assets — 2,106 179 — — 2,285 Deferred tax asset, net — 55,475 — — — 55,475 Equipment and improvements, net — — 5,194 — — 5,194 Intangible assets, net — 13,275 1,799 — — 15,074 Goodwill — 66,550 9,450 — — 76,000 Subtotal — 296,336 161,324 — (201,814 ) 255,846 Assets of Consolidated Entities: Restricted cash and cash equivalents — — 6,872 928,544 — 935,416 Due from brokers — — 36,645 83,896 — 120,541 Investments — — 44,083 11,728,743 11,772,826 Receivables — — 281 40,713 — 40,994 Prepaid and other assets — — — 20,682 — 20,682 Total assets of Consolidated Entities — — 87,881 12,802,578 — 12,890,459 TOTAL ASSETS $ — $ 296,336 $ 249,205 $ 12,802,578 $ (201,814 ) $ 13,146,305 LIABILITIES Accrued and other liabilities — 1,846 13,738 — — 15,584 Contingent liabilities — — 12,668 — — 12,668 Long-term debt — 118,170 — — — 118,170 Subtotal — 120,016 26,406 — — 146,422 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — 15,583 375,708 — 391,291 Accrued and other liabilities — — — 5,825 (4,343 ) 1,482 Interest payable — — 163 36,013 (2 ) 36,174 Long-term debt — — 51,000 12,023,272 (25,238 ) 12,049,034 Total Non-Recourse Liabilities of Consolidated Entities — — 66,746 12,440,818 (29,583 ) 12,477,981 TOTAL LIABILITIES — 120,016 93,152 12,440,818 (29,583 ) 12,624,403 EQUITY Common shares, par value $0.001: 500,000,000 shares authorized, 25,323,417 issued and 25,192,973 outstanding as of December 31, 2014 — 25 — — — 25 Treasury shares, at cost: 130,444 shares as of December 31, 2014 — (914 ) — — — (914 ) Additional paid-in capital — 988,904 591,518 — (591,518 ) 988,904 Retained earnings (deficit) — (811,695 ) (435,465 ) — 435,465 (811,695 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY — 176,320 156,053 — (156,053 ) 176,320 Consolidated Fund Equity/Noncontrolling interests (Note 2) — — — 226,996 (16,178 ) 210,818 Appropriated retained earnings (deficit) of Consolidated VIEs (Note 3) — — — 134,764 134,764 TOTAL EQUITY — 176,320 156,053 361,760 (172,231 ) 521,902 TOTAL LIABILITIES AND EQUITY $ — $ 296,336 $ 249,205 $ 12,802,578 $ (201,814 ) $ 13,146,305 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statements of Operations For The Year Ended December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 96,765 $ — $ (4,686 ) $ 92,079 Interest income from investments — — 6,564 — (1,231 ) 5,333 Interest income - Consolidated Entities — — 823 24,283 — 25,106 Total net revenues — — 104,152 24,283 (5,917 ) 122,518 Expenses Employee compensation and benefits — — 32,027 — — 32,027 Share-based compensation — 299 5,251 — — 5,550 Professional services 50 6,411 3,474 — — 9,935 General and administrative expenses — 3,392 6,530 — — 9,922 Depreciation and amortization — 5,543 2,234 — — 7,777 Impairment of intangible assets — 1,501 327 — — 1,828 Corporate interest expense — 3,808 — — — 3,808 Expenses - Consolidated Entities — — 15 15,448 (4,689 ) 10,774 Interest expense - Consolidated Entities — — 232 9,839 (167 ) 9,904 Total expenses 50 20,954 50,090 25,287 (4,856 ) 91,525 Other Gain (Loss) Net gain (loss) on investments — — (6,071 ) — 1,890 (4,181 ) Net gain (loss) on contingent liabilities — — (2,210 ) — — (2,210 ) Net gain (loss) on investments - Consolidated Entities — — 796 (26,910 ) — (26,114 ) Net gain (loss) on liabilities - Consolidated Entities — — — 26,147 (1,401 ) 24,746 Net gain (loss) on other investments and derivatives - Consolidated Entities — — — 2,970 — 2,970 Intercompany net gain (loss) on investments in subsidiaries — 46,577 — — (46,577 ) — Net other gain (loss) — 46,577 (7,485 ) 2,207 (46,088 ) (4,789 ) Income (loss) before income taxes (50 ) 25,623 46,577 1,203 (47,149 ) 26,204 Income tax (expense) benefit — (25,239 ) — — — (25,239 ) Net income (loss) (50 ) 384 46,577 1,203 (47,149 ) 965 Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (1,203 ) 572 (631 ) Net income (loss) attributable to CIFC LLC $ (50 ) $ 384 $ 46,577 $ — $ (46,577 ) $ 334 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statements of Operations For The Year Ended December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 84,201 $ — $ (79,333 ) $ 4,868 Interest income from investments — 1 10,341 — (9,552 ) 790 Interest income - Consolidated Entities — — 2,387 514,865 — 517,252 Total net revenues — 1 96,929 514,865 (88,885 ) 522,910 Expenses Employee compensation and benefits — — 28,805 — — 28,805 Share-based compensation — 274 2,418 — — 2,692 Professional services — 3,964 3,295 — — 7,259 General and administrative expenses — 3,523 7,163 — — 10,686 Depreciation and amortization — 8,512 2,909 — — 11,421 Corporate interest expense — 3,915 321 — — 4,236 Expenses - Consolidated Entities — — 1,025 118,383 (79,334 ) 40,074 Interest expense - Consolidated Entities — — 425 171,513 (7 ) 171,931 Total expenses — 20,188 46,361 289,896 (79,341 ) 277,104 Other Gain (Loss) Net gain (loss) on investments — — 3,664 — (1,190 ) 2,474 Net gain (loss) on contingent liabilities — — (2,932 ) — — (2,932 ) Net gain (loss) on investments - Consolidated Entities — — (803 ) (227,974 ) — (228,777 ) Net gain (loss) on liabilities - Consolidated Entities — — — (18,123 ) 9,127 (8,996 ) Net gain (loss) on other investments and derivatives - Consolidated Entities — — — 2,031 — 2,031 Intercompany net gain (loss) on investments in subsidiaries — 50,726 — — (50,726 ) — Net gain on sale of management contract — — 229 — — 229 Net other gain (loss) — 50,726 158 (244,066 ) (42,789 ) (235,971 ) Income (loss) before income taxes — 30,539 50,726 (19,097 ) (52,333 ) 9,835 Income tax (expense) benefit — (22,158 ) — — — (22,158 ) Net income (loss) — 8,381 50,726 (19,097 ) (52,333 ) (12,323 ) Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — 19,097 1,607 20,704 Net income (loss) attributable to CIFC LLC $ — $ 8,381 $ 50,726 $ — $ (50,726 ) $ 8,381 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Comprehensive Income (Loss) For The Year Ended December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ (50 ) $ 384 $ 46,577 $ 1,203 $ (47,149 ) $ 965 Other comprehensive income (loss) — — — — — — Comprehensive income (loss) (50 ) 384 46,577 1,203 (47,149 ) 965 Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (1,203 ) 572 (631 ) Comprehensive income (loss) attributable to CIFC LLC $ (50 ) $ 384 $ 46,577 $ — $ (46,577 ) $ 334 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Comprehensive Income (Loss) For The Year Ended December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ — $ 8,381 $ 50,726 $ (19,097 ) $ (52,333 ) $ (12,323 ) Other comprehensive income (loss) — — — — — — Comprehensive income (loss) — 8,381 50,726 (19,097 ) (52,333 ) (12,323 ) Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — 19,097 1,607 20,704 Comprehensive income (loss) attributable to CIFC LLC $ — $ 8,381 $ 50,726 $ — $ (50,726 ) $ 8,381 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Cash Flows For The Year Ended December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In Thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (50 ) $ 384 $ 46,577 $ 1,203 $ (47,149 ) $ 965 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 125 — — — 125 Share-based compensation — 299 5,251 — — 5,550 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — 8,281 — (1,890 ) 6,391 Intercompany net (gain) loss on investments in subsidiaries — (46,577 ) — 46,577 — Depreciation and amortization — 5,543 2,234 — — 7,777 Impairment of intangible assets — 1,501 327 — — 1,828 Deferred income tax expense (benefit) — 11,050 — — — 11,050 Excess tax benefits from share-based payment arrangements — 128 — — — 128 Consolidated Entities: Net (gain) loss on investments — — (796 ) 26,910 — 26,114 Net (gain) loss on liabilities — — — (26,147 ) 1,401 (24,746 ) Net other (gain) loss — — — (2,970 ) — (2,970 ) Changes in operating assets and liabilities: Receivables (785 ) 424 (21,480 ) (245 ) 21,179 (907 ) Prepaid and other assets — 481 (168 ) — — 313 Due to brokers — 61 — — — 61 Accrued and other liabilities 50 22,219 (1,928 ) — (20,649 ) (308 ) Consolidated Entities: Due from brokers — — 36,645 (27,647 ) — 8,998 Purchase of investments — — (55,017 ) (951,887 ) — (1,006,904 ) Sales of investments — — 99,895 371,805 — 471,700 Receivables — — 281 (1,618 ) — (1,337 ) Due to brokers — — (15,583 ) 59,008 — 43,425 Accrued and other liabilities — — — 460 (373 ) 87 Interest payable — — (163 ) 2,622 (167 ) 2,292 Net cash provided by (used in) operating activities (785 ) (4,362 ) 104,356 (548,506 ) (1,071 ) (450,368 ) CASH FLOWS FROM INVESTING ACTIVITIES: — Purchases of investments — — (232,539 ) — 166,008 (66,531 ) Sales of investments — — 154,179 9,660 (94,977 ) 68,862 Intercompany investments in subsidiaries — (148,422 ) — — 148,422 — Intercompany distributions from subsidiaries 785 125,404 — — (126,189 ) — Purchases of equipment and improvements — — (1,059 ) — — (1,059 ) Consolidated Entities: Change in restricted cash and cash equivalents — — 6,871 (48,005 ) — (41,134 ) Net cash provided by (used in) investing activities 785 (23,018 ) (72,548 ) (38,345 ) 93,264 (39,862 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of long-term debt — 40,000 — — — 40,000 Debt issuance cost — (2,133 ) — — — (2,133 ) Repurchases of common shares — (1,151 ) — — — (1,151 ) Distributions paid — (10,130 ) — — — (10,130 ) Intercompany contributions — — 148,422 — (148,422 ) — Intercompany distributions — — (126,189 ) — 126,189 — Proceeds from extension of warrants — 350 — — — 350 Proceeds from the exercise of options — 74 — — — 74 Payments for tax from the net delivery of restricted stock units — (266 ) — — — (266 ) Deferred purchase payments and payments on contingent liabilities — — (3,599 ) — — (3,599 ) Excess tax benefits from share-based payment arrangements — (128 ) — — — (128 ) Consolidated Entities: Contributions from noncontrolling interests — — — 37,741 (21,641 ) 16,100 Distributions to noncontrolling interests — — — (15,307 ) — (15,307 ) Proceeds from issuance of long-term debt — — — 809,695 (173,772 ) 635,923 Payments made on long-term debt — — (51,000 ) (245,278 ) 125,453 (170,825 ) Net cash provided by (used in) financing activities — 26,616 (32,366 ) 586,851 (92,193 ) 488,908 Net increase (decrease) in cash and cash equivalents — (764 ) (558 ) — — (1,322 ) Cash and cash equivalents at beginning of period — 2,156 57,134 — — 59,290 Cash and cash equivalents at end of period $ — $ 1,392 $ 56,576 $ — $ — $ 57,968 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Cash Flows For The Year Ended December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ — $ 8,381 $ 50,726 $ (19,097 ) $ (52,333 ) $ (12,323 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 696 321 — — 1,017 Share-based compensation — 274 2,418 — — 2,692 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — (731 ) — 1,189 458 Intercompany net (gain) loss on investments in subsidiaries — (50,726 ) — — 50,726 — Depreciation and amortization — 8,512 2,909 — — 11,421 Deferred income tax expense (benefit) — 3,932 — — — 3,932 Excess tax benefits from share-based payment arrangements — (171 ) — — — (171 ) Net gain on the sale of management contract — — (229 ) — — (229 ) Consolidated Entities: Net (gain) loss on investments — — 803 227,974 — 228,777 Net (gain) loss on liabilities — — — 18,123 (9,127 ) 8,996 Net other (gain) loss — — (2,031 ) — (2,031 ) Changes in operating assets and liabilities: Due from brokers — — 13,827 (995 ) — 12,832 Receivables — (721 ) 441 17 243 (20 ) Prepaid and other assets — 361 43 222 — 626 Due to brokers — — (508 ) (4,991 ) — (5,499 ) Accrued and other liabilities — (666 ) 2,246 (271 ) 269 1,578 Change in restricted cash and cash equivalents — 1,615 (1,608 ) — 7 Consolidated Entities: Due from brokers — — (36,645 ) 160,765 — 124,120 Purchase of investments — — (102,448 ) (8,715,405 ) — (8,817,853 ) Sales of investments — — 57,563 7,331,128 13,761 7,402,452 Receivables — — (281 ) (24,613 ) 1 (24,893 ) Due to brokers — — 15,583 (220,939 ) (13,761 ) (219,117 ) Accrued and other liabilities — — — 1,653 (508 ) 1,145 Interest payable — — 163 13,647 (3 ) 13,807 Net cash provided by (used in) operating activities — (28,513 ) 4,593 (1,234,813 ) (9,543 ) (1,268,276 ) CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from the sale of management contracts — — 229 — 229 Purchases of investments — — (136,136 ) 15,735 91,257 (29,144 ) Sales of investments — — 172,819 1,001 (153,336 ) 20,484 Intercompany investments in subsidiaries — (440,277 ) — — 440,277 — Intercompany distributions from subsidiaries — 478,341 — — (478,341 ) — Purchases of equipment and improvements — — (2,204 ) — — (2,204 ) Consolidated Entities: Change in restricted cash and cash equivalents — — (6,873 ) (206,021 ) — (212,894 ) Net cash provided by (used in) investing activities — 38,064 27,835 (189,285 ) (100,143 ) (223,529 ) CASH FLOWS FROM FINANCING ACTIVITIES: Distributions paid — (9,218 ) — — — (9,218 ) Intercompany contributions — — 440,277 — (440,277 ) — Intercompany distributions — — (478,341 ) — 478,341 — Proceeds from extension of warrants — 200 — — 200 Proceeds from the exercise of options — 580 — — — 580 Deferred purchase payments and payments on contingent liabilities — — (8,724 ) — — (8,724 ) Excess tax benefits from share-based payment arrangements — 171 — — — 171 Consolidated Entities: Contributions from noncontrolling interests — — — 93,587 (100 ) 93,487 Distributions to noncontrolling interests — — — (37,783 ) 10,685 (27,098 ) Proceeds from issuance of long-term debt — — 51,000 4,702,304 (112,323 ) 4,640,981 Payments made on long-term debt — — — (3,338,141 ) 173,360 (3,164,781 ) Net cash provided by (used in) financing activities — (8,267 ) 4,212 1,419,967 109,686 1,525,598 Net increase (decrease) in cash and cash equivalents — 1,284 36,640 (4,131 ) — 33,793 Cash and cash equivalents at beginning of period 872 20,494 4,131 — 25,497 Cash and cash equivalents at end of period $ — $ 2,156 $ 57,134 $ — $ — $ 59,290

SUBSEQUENT EVENTS (Notes)

SUBSEQUENT EVENTS (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Subsequent Events Subsequent to quarter end, the Company's board of directors declared a cash distribution of $0.25 per share, composed of a $0.10 per share quarterly distribution and a $0.15 per share special distribution. The distribution will be paid on May 24, 2016 to shareholders of record as of the close of business on May 17, 2016 . On April 28, 2016, the Dissenting Shareholders filed an appraisal petition with the Delaware Court. The Dissenting Shareholders may (i) be paid the fair value of the Dissenting Shares as determined by the Delaware Courts or (ii) settle upon terms agreed to by the parties.	Subsequent Events Subsequent to year end, the Company's board of directors declared an aggregate cash distribution of $0.34 per share; composed of a quarterly cash distribution of $0.10 per share and a special distribution of $0.24 per share issued in order to defray a portion of the U.S. Federal income tax liability of shareholders arising from the Reorganization Transaction. The distribution will be paid on April 15, 2016 to shareholders of record as of the close of business on April 1, 2016 .

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING UPDATES (Policies)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Updates In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718) ("ASU 2016-09") , which is intended to simplify several aspects of the accounting for share-based payment award transactions. Specifically, ASU 2016-09 aims to simplify the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The guidance will be effective for fiscal years beginning after December 15, 2016, including interim periods within that year. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) ("ASU 2016-02") , to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of 12 months) on the balance sheet as a lease liability and a right-of-use asset (as defined). ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with earlier application permitted. Upon adoption, the lessee will apply the new standard retrospectively to all periods presented or retrospectively using a cumulative effect adjustment in the year of adoption. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606), Deferral of the Effective Date ("ASU 2015-14") . The ASU amends the effective date of ASU 2014-09 for all entities by one year. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09") , which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The standard clarifies the required factors that an entity must consider when recognizing revenue and also requires additional disclosures. With the issuance of ASU 2015-14 the new effective date for the Company is January 1, 2018. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15") . The guidance will explicitly require management to assess an entity's ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. The new standard will be effective in the first annual period ending after December 15, 2016. Earlier adoption is permitted. The Company does not believe this guidance will have a material impact on its Consolidated Financial Statements.	Recent Accounting Updates Adopted Guidance: In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest (Topic 835-30), Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”), which requires debt issuance costs to be presented on the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. The standard does not affect the recognition and measurement of debt issuance costs. The standard is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. The new guidance will be applied on a retrospective basis. The Company early adopted ASU 2015-03 and presented debt issuance costs related to its recourse debt as a direct deduction on the carrying value of the associated debt liability. As part of the retroactive adoption, as of December 31, 2014, the Company reclassified $1.8 million of Junior Subordinated Note debt issuance costs from Prepaid and other assets to a contra liability account as a direct deduction of the net carrying value of Long-term debt (Note 11 ). In May 2015, the FASB issued ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (“ASU 2015-07”). Under the guidance, investments measured at net asset value (“NAV”), as a practical expedient for fair value, are excluded from the fair value hierarchy. Instead, an entity is required to include those investments as a reconciling line item so that the total fair value amount of investments in the disclosure is consistent with the amount on the balance sheet. Further, entities must provide additional disclosures for investments for which they elect to use the NAV practical expedient to determine fair value. This guidance is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years and early adoption is permitted. The ASU should be applied retrospectively to all periods presented. The Company early adopted ASU 2015-07 and excluded from the fair value hierarchy table investments in its unconsolidated credit funds that are measured at NAV as a practical expedient as of December 31, 2015 and 2014 (Note 5 ). In February 2015, the FASB issued ASU 2015-02. The guidance amends the current consolidation guidance and ends the deferral granted to investment companies from applying the VIE guidance. The revised consolidation guidance, among other things, (i) modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or VOEs, (ii) eliminated the presumption that a general partner should consolidate a limited partnership, and (iii) modifies the consolidation analysis of reporting entities that are involved with VIEs through fee arrangements and related party relationships. The standard is effective for the Company beginning on January 1, 2016, however, early adoption is allowed. The Company early adopted ASU 2015-02 on a modified retroactive basis. Upon adoption, as of January 1, 2015, the Company deconsolidated 30 CLOs and the Senior Secured Corporate Loan Fund from its Consolidated Financial Statements. As of January 1, 2015, the Company made a non-cash adjustment to deconsolidate Consolidated Entities' assets of $12.6 billion and Consolidated Entities' liabilities of $12.3 billion . This resulted in a cumulative effect adjustment of $127.9 million to beginning "Appropriated retained earnings (deficit) of Consolidated VIEs" and $204.4 million to beginning "Noncontrolling interests in Consolidated Funds". The Company's investment in unconsolidated CLOs and the Senior Secured Corporate Loan fund have been reported in "Investments" on the Consolidated Balance Sheet as of December 31, 2015 . The Consolidated Financial Statements reflect the impact of this adoption as of January 1, 2015. In August 2014, the FASB issued ASU 2014-13, Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity (a consensus of the FASB Emerging Issues Task Force) (“ASU 2014-13”) which provides guidance on measuring the financial assets and financial liabilities of a consolidated collateralized financing entity (“CFE”), such as CLOs and warehouses. Entities may make an election to measure the CFE on the basis of either the fair value of the CFE’s financial assets or financial liabilities, whichever is deemed more observable. This will eliminate the non-economic measurement differences between financial assets and financial liabilities and the associated income volatility. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 for public companies and early adoption is permitted. The adoption can be applied on a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the annual period of adoption or retrospectively to all relevant prior periods. In conjunction with the adoption of ASU 2015-02 (see above and Note 2 ), the Company has also elected to early adopt ASU 2014-13 on a modified retroactive basis. As of January 1, 2015, ASU 2014-13 was applied to the consolidated CLOs (Note 2 ). This resulted in a cumulative effect adjustment of $6.9 million to beginning "Appropriated retained earnings (deficit) of Consolidated VIEs". Guidance not yet adopted: In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606), Deferral of the Effective Date . The ASU amends the effective date of ASU 2014-09 for all entities by one year. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The standard clarifies the required factors that an entity must consider when recognizing revenue and also requires additional disclosures. With the issuance of ASU 2014-15 the new effective date for the Company is beginning January 1, 2018. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern . The guidance will explicitly require management to assess an entity's ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. The new standard will be effective in the first annual period ending after December 15, 2016. Earlier adoption is permitted. The Company does not believe this guidance will have a material impact on its Consolidated Financial Statements.

CONSOLIDATED VIEs (Tables)

CONSOLIDATED VIEs (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Consolidated Variable Interest Entities
Schedule of Consolidated VIE assets, non-recourse liabilities and maximum exposure [Table Text Block]	The following table summarizes the Company's total maximum exposure to loss on these Consolidated VIEs, as follows (1): March 31, 2016 December 31, 2015 (In thousands) Maximum exposure to loss: Investments and beneficial interests (2) $ 81,944 $ 81,752 Receivables 394 605 Total maximum exposure to loss $ 82,338 $ 82,357 Explanatory Notes: ________________________________ (1) In addition, exposure to loss includes future management fees on the Consolidated VIEs, which are not included in the table. (2) Investments made in our Consolidated VIEs are eliminated in consolidation.	The following table summarizes the Company's total maximum exposure to loss on these Consolidated VIEs, as follows (1): CIFC LLC CIFC Corp. CIFC LLC & CIFC Corp. December 31, 2015 December 31, 2014 (In thousands) Maximum exposure to loss: Investments and beneficial interests (2) $ 81,752 $ — $ 46,651 Receivables 605 — 4,200 Total maximum exposure to loss $ 82,357 $ — $ 50,851 Explanatory Notes: ________________________________ (1) In addition, exposure to loss excludes future management fees on the Consolidated VIEs, which are not included in the table. (2) Investments made in our Consolidated VIEs are eliminated in consolidation.

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Assets and liabilities measured at fair value
Schedule of financial instruments carried at fair value on a recurring basis	The following table summarizes the assets and liabilities carried at fair value on a recurring basis, by class and level: March 31, 2016 December 31, 2015 Level 1 Level 2 Level 3 NAV Estimated Fair Value Level 1 Level 2 Level 3 NAV Estimated Fair Value (In thousands) (In thousands) Assets Investments: Credit Funds $ — $ — $ — $ 31,977 $ 31,977 $ — $ — $ — $ 31,411 $ 31,411 Structured products & other — 1,558 43,812 — 45,370 — 1,768 37,517 — 39,285 Subtotal — 1,558 43,812 31,977 77,347 — 1,768 37,517 31,411 70,696 Consolidated Entities: Loans (1) — 1,052,484 292,559 — 1,345,043 — 1,067,539 281,868 — 1,349,407 Structured products & other — 802 1,118 — 1,920 — 840 1,156 — 1,996 Total Consolidated Entities — 1,053,286 293,677 — 1,346,963 — 1,068,379 283,024 — 1,351,403 Total Assets $ — $ 1,054,844 $ 337,489 $ 31,977 $ 1,424,310 $ — $ 1,070,147 $ 320,541 $ 31,411 $ 1,422,099 Liabilities Contingent liabilities $ — $ — $ 8,142 $ — $ 8,142 $ — $ — $ 8,338 $ — $ 8,338 Total Liabilities $ — $ — $ 8,142 $ — $ 8,142 $ — $ — $ 8,338 $ — $ 8,338 Explanatory Note: ______________________________ (1) As of both March 31, 2016 and December 31, 2015 , the total aggregate unpaid principal balance of loans was $1.4 billion .See Note 9 for total contractual principal amounts.	The following table summarizes the assets and liabilities carried at fair value on a recurring basis, by class and level: CIFC LLC December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 NAV Estimated Fair Value Level 1 Level 2 Level 3 NAV Estimated Fair Value (In thousands) (In thousands) Assets Investments: Credit Funds (1) $ — $ — $ — $ 31,411 $ 31,411 $ — $ — $ — $ 27,169 $ 27,169 Loans — — — — — — 2,959 967 — 3,926 Structured products & other — 1,768 37,517 — 39,285 — — 7,604 — 7,604 Subtotal — 1,768 37,517 31,411 70,696 — 2,959 8,571 27,169 38,699 Consolidated Entities: Loans (2) — 1,067,539 281,868 — 1,349,407 — 9,184,488 2,517,887 — 11,702,375 Corporate bonds — — — — — — — 478 — 478 Structured products & other — 840 1,156 — 1,996 — — 69,973 — 69,973 Total Consolidated Entities — 1,068,379 283,024 — 1,351,403 — 9,184,488 2,588,338 — 11,772,826 Total Assets $ — $ 1,070,147 $ 320,541 $ 31,411 $ 1,422,099 $ — $ 9,187,447 $ 2,596,909 $ 27,169 $ 11,811,525 Liabilities Contingent liabilities $ — $ — $ 8,338 $ — $ 8,338 $ — $ — $ 12,668 $ — $ 12,668 Consolidated Entities: Long-term debt (2) — — — — — — — 12,049,034 — 12,049,034 Total Consolidated Entities — — — — — — — 12,049,034 — 12,049,034 Total Liabilities $ — $ — $ 8,338 $ — $ 8,338 $ — $ — $ 12,061,702 $ — $ 12,061,702 CIFC Corp. December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 NAV Estimated Fair Value Level 1 Level 2 Level 3 NAV Estimated Fair Value (In thousands) (In thousands) Assets Investments: Credit Funds (1) $ — $ — $ — $ — $ — $ — $ — $ — $ 27,169 $ 27,169 Loans — — — — — — 2,959 967 — 3,926 Structured products & other — — 739 — 739 — — 7,604 — 7,604 Subtotal — — 739 — 739 — 2,959 8,571 27,169 38,699 Consolidated Entities: Loans (2) — — — — — — 9,184,488 2,517,887 — 11,702,375 Corporate bonds — — — — — — — 478 — 478 Structured products & other — — — — — — — 69,973 — 69,973 Total Consolidated Entities — — — — — — 9,184,488 2,588,338 — 11,772,826 Total Assets $ — $ — $ 739 $ — $ 739 $ — $ 9,187,447 $ 2,596,909 $ 27,169 $ 11,811,525 Liabilities Contingent liabilities $ — $ — $ 8,338 $ — 8,338 $ — $ — $ 12,668 $ — $ 12,668 Consolidated Entities: Long-term debt (2) — — — — — — — 12,049,034 — 12,049,034 Total Consolidated Entities — — — — — — — 12,049,034 — 12,049,034 Total Liabilities $ — $ — $ 8,338 $ — $ 8,338 $ — $ — $ 12,061,702 $ — $ 12,061,702 Explanatory Note: ______________________________ (1) Pursuant to the adoption of ASU 2015-07, disclosure of assets measured at NAV as a practical expedient in the fair value hierarchy is no longer required. (2) As of December 31, 2015 and 2014 , the total aggregate unpaid principal balance of loans was $1.4 billion and $12.0 billion , respectively. See Note 11 for total contractual principal amounts. As of December 31, 2015 , Long-term debt of the Consolidated VIEs was no longer measured using a third-party pricing service due to the adoption of ASU 2014-13 (Note 3 ).
Schedule of level 3 financial assets at fair value	The following tables summarize by class the changes in financial assets and liabilities measured at fair value classified within Level 3 of the valuation hierarchy. Net realized and unrealized gains (losses) for Level 3 financial assets and liabilities measured at fair value are included in the Consolidated Statements of Operations. Level 3 Financial Assets For the Three Months Ended March 31, 2016 Investments Investment Assets of Consolidated Entities Structured Products & Other Total Loans Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 37,517 $ 37,517 $ 281,868 $ 1,156 $ 283,024 Transfers into Level 3 (1) — — 95,421 — 95,421 Transfers out of Level 3 (2) — — (84,551 ) — (84,551 ) Net realized/unrealized gains (losses) (3) (1,307 ) (1,307 ) (933 ) (38 ) (971 ) Purchases (3) 15,721 15,721 24,480 — 24,480 Sales (3) (8,000 ) (8,000 ) (9,899 ) — (9,899 ) Settlements (3) (119 ) (119 ) (13,827 ) — (13,827 ) Estimated fair value, end of period $ 43,812 $ 43,812 $ 292,559 $ 1,118 $ 293,677 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ (213 ) $ (213 ) $ (1,967 ) $ (38 ) $ (2,005 ) Level 3 Financial Assets For the Three Months Ended March 31, 2015 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Transfers into Level 3 (1) — — — 2,327 — — 2,327 Transfers out of Level 3 (2) (3) — — — (8,477 ) — — (8,477 ) Transfers in (out) due to deconsolidation (2)(3) — 23,614 23,614 (2,476,625 ) (478 ) (67,383 ) (2,544,486 ) Net realized/unrealized gains (losses) (3) — (197 ) (197 ) 497 — (101 ) 396 Purchases (3) — 7,138 7,138 26,643 — 2,188 28,831 Sales (3) — (5,296 ) (5,296 ) (11,336 ) — — (11,336 ) Settlements (3) — — — (5,933 ) — — (5,933 ) Estimated fair value, end of period $ 967 $ 32,863 $ 33,830 $ 44,983 $ — $ 4,677 $ 49,660 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ — $ 3 $ 3 $ 82 $ — $ (101 ) $ (19 ) Explanatory Notes: ______________________________ (1) Transfers in represent loans currently valued by a third-party pricing service using composite prices determined using less than two quotes, an internally developed pricing model or broker quotes and that were previously marked by a third-party pricing service using composite prices determined from two or more quotes. (2) Transfers out represent loans previously valued by an internally developed pricing model, broker quotes, or a third-party pricing service using composite prices determined using less than two quotes and are now being marked by a third-party pricing service using composite prices determined from two or more quotes. (3) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out, net realized/unrealized gains (losses), purchases, sales and settlements for the three months ended March 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Level 3 Financial Liabilities For the Three Months Ended March 31, 2016 For the Three Months Ended March 31, 2015 Contingent Liabilities Total Contingent Liabilities Long-term Debt of Consolidated Entities Total (In thousands) Estimated fair value, beginning of period $ 8,338 $ 8,338 $ 12,668 $ 12,049,034 $ 12,061,702 Transfer in due to consolidation (2)(3) — — — (12,049,034 ) (12,049,034 ) Net realized/unrealized (gains) losses (2) 364 364 713 — 713 Settlements (2)(4) (560 ) (560 ) (1,558 ) — (1,558 ) Estimated fair value, end of period $ 8,142 $ 8,142 $ 11,823 $ — $ 11,823 Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period $ 364 $ 364 $ 713 $ — $ 713 Explanatory Notes: __________________________ (1) Represents the Company's sales of its residual interests in the Consolidated CLOs. The sale removes the requirement to consolidate the CLOs, therefore, debt and/or subordinated notes of the CLOs are no longer eliminated in consolidation. (2) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out, net realized/unrealized gains (losses), purchases, sales and settlements for the three months ended March 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. (3) Pursuant to the adoption of ASU 2014-13, the Long-term Debt of Consolidated Entities have been remeasured in accordance with the new guidance. (4) For Contingent Liabilities, amount represents payments made and due related to the contingent liabilities from the merger with Legacy CIFC (Note 8 ).	The following tables summarize by class the changes in financial assets and liabilities measured at fair value classified within Level 3 of the valuation hierarchy. Net realized and unrealized gains (losses) for Level 3 financial assets and liabilities measured at fair value are included in the Consolidated Statements of Operations. CIFC LLC Level 3 Financial Assets For the Year Ended December 31, 2015 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Transfers into Level 3 (1) — — — 51,012 — — 51,012 Transfers out of Level 3 (2) — — — (69,435 ) — (1,803 ) (71,238 ) Transfers in due to consolidation or acquisition — — — 143,856 — — 143,856 Transfers out due to consolidation or acquisition — (12,546 ) (12,546 ) — — — — Transfers in (out) due to deconsolidation (2)(3) — 23,614 23,614 (2,476,625 ) (478 ) (67,383 ) (2,544,486 ) Transfers between classes — (2,613 ) (2,613 ) — — 2,613 2,613 Net realized/unrealized gains (losses) (3) 33 (6,828 ) (6,795 ) (16,747 ) — (143 ) (16,890 ) Purchases (3) 990 63,060 64,050 246,256 — 1,129 247,385 Sales (3) (1,990 ) (28,715 ) (30,705 ) (95,305 ) — (3,230 ) (98,535 ) Settlements (3) — (6,059 ) (6,059 ) (19,031 ) — — (19,031 ) Estimated fair value, end of period $ — $ 37,517 $ 37,517 $ 281,868 $ — $ 1,156 $ 283,024 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ — $ (5,689 ) $ (5,689 ) $ (4,875 ) $ — $ (163 ) $ (5,038 ) CIFC Corp. Level 3 Financial Assets For the Year Ended December 31, 2015 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Transfers into Level 3 (1) — — — 51,012 — — 51,012 Transfers out of Level 3 (2) — — — (69,435 ) — (1,803 ) (71,238 ) Transfers in due to consolidation or acquisition — — — 143,856 — — 143,856 Transfers out due to consolidation or acquisition — (12,546 ) (12,546 ) — — — — Transfers in (out) due to deconsolidation (2)(3) — 23,614 23,614 (2,476,625 ) (478 ) (67,383 ) (2,544,486 ) Transfers between classes — (2,613 ) (2,613 ) — — 2,613 2,613 Net realized/unrealized gains (losses) (3) 33 (6,828 ) (6,795 ) (16,747 ) — (143 ) (16,890 ) Purchases (3) 990 63,060 64,050 246,256 — 1,129 247,385 Sales (3) (1,990 ) (28,715 ) (30,705 ) (95,305 ) — (3,230 ) (98,535 ) Settlements (3) — (6,059 ) (6,059 ) (19,031 ) — — (19,031 ) Reorganization Transaction - Transfers out to CIFC LLC $ — $ (36,778 ) $ (36,778 ) $ (281,868 ) $ — $ (1,156 ) $ (283,024 ) Estimated fair value, end of period $ — $ 739 $ 739 $ — $ — $ — $ — Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ — $ (78 ) $ (78 ) $ — $ — $ — $ — CIFC LLC and CIFC Corp. Level 3 Financial Assets For the Year Ended December 31, 2014 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 510 $ — $ 510 $ 1,706,290 $ 16,220 $ 93,516 $ 1,816,026 Transfers into Level 3 (1) — — — 355,793 — — 355,793 Transfers out of Level 3 (2) (3) — — — (296,059 ) — — (296,059 ) Transfers in due to consolidation or acquisition 1,008 — 1,008 32,523 — 5,321 37,844 Transfers between classes (498 ) — (498 ) 498 — — 498 Net realized/unrealized gains (losses) (3) (53 ) (311 ) (364 ) (55,695 ) 350 9,136 (46,209 ) Purchases (3) — 7,915 7,915 1,884,265 — 1,910 1,886,175 Sales (3) — — — (412,444 ) (16,092 ) (19,022 ) (447,558 ) Settlements (3) — — — (697,284 ) — (20,888 ) (718,172 ) Estimated fair value, end of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ (23 ) $ (311 ) $ (334 ) $ (46,579 ) $ (28 ) $ 679 $ (45,928 ) Explanatory Notes: ______________________________ (1) Transfers in represent loans currently valued by a third-party pricing service using composite prices determined using less than two quotes, an internally developed pricing model or broker quotes and that were previously marked by a third-party pricing service using composite prices determined from two or more quotes. (2) Transfers out represent loans previously valued by an internally developed pricing model, broker quotes, or a third-party pricing service using composite prices determined using less than two quotes and are now being marked by a third-party pricing service using composite prices determined from two or more quotes. (3) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out for the year ended December 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Net realized/unrealized gains (losses), purchases, sales and settlements for the twelve months ended December 31, 2015 , also reflect the deconsolidation. CIFC LLC and CIFC Corp. Level 3 Financial Liabilities For the Year Ended December 31, 2015 For the Year Ended December 31, 2014 Contingent Liabilities Long-term Debt of Consolidated Entities Total Contingent Liabilities Long-term Debt of Consolidated Entities Total (In thousands) Estimated fair value, beginning of period $ 12,668 $ 12,049,034 $ 12,061,702 $ 16,961 $ 10,484,975 $ 10,501,936 Sale of investments in Consolidated CLOs (1) — — — — 20,601 20,601 Transfer in due to consolidation — — — — 101,694 101,694 Transfer out due to deconsolidation or sale (2)(3) — (12,049,034 ) (12,049,034 ) — — — Net realized/unrealized (gains) losses (2) 2,210 — 2,210 2,932 8,995 11,927 Purchases (2) — — — — 70,567 70,567 Issuances (2) — — — — 4,526,984 4,526,984 Settlements (2)(4) (6,540 ) — (6,540 ) (7,225 ) (3,164,782 ) (3,172,007 ) Estimated fair value, end of period $ 8,338 $ — $ 8,338 $ 12,668 $ 12,049,034 $ 12,061,702 Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period $ 2,210 $ — $ 2,210 $ 2,932 $ 230,011 $ 232,943 Explanatory Notes: __________________________ (1) Represents the Company's sales of its residual interests in the Consolidated CLOs. The sale removes the requirement to consolidate the CLOs, therefore, debt and/or subordinated notes of the CLOs are no longer eliminated in consolidation. (2) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out for the year ended December 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Net realized/unrealized gains (losses), purchases, sales and settlements for the twelve months ended December 31, 2015 , also reflect the deconsolidation. (3) Pursuant to the adoption of ASU 2014-13, the Long-term Debt of Consolidated Entities have been remeasured in accordance with the new guidance. (See Note 3 for details). (4) For Contingent Liabilities, amount represents payments made and due related to the contingent liabilities from the merger with Legacy CIFC (Note 10 ).
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The disclosure provided below provides quantitative information about the significant unobservable inputs used in the valuation of the contingent liabilities of Legacy CLOs (see Note 9 ). March 31, 2016 March 31, 2016 December 31, 2015 Impact of Increase in Input on Fair Value Financial Liabilities Fair Value (in thousands) Valuation Technique Significant Unobservable Input Range Range Contingent Liabilities $ 8,142 Discounted cash flows Discount rate (2) 8.1%-13.0% 6.7%-12.0% Decrease Default rate (3) 2.0% 2.0% Decrease Recovery rate (3) 70% 70% Increase Pre-payment rate (3) 25% 40% Decrease Reinvestment spread of assets above LIBOR 3.3%-4.0% 3.0-3.8% Increase Reinvestment price of assets 100.0 100.0 Increase Explanatory Notes: ____________________________ (1) The impact of a decrease in input would have the opposite impact to the fair value as that presented in the table. (2) The discount rate varies by type of management fee (senior management fee, subordinated management fee, or incentive fee), the priority of that management fee in the waterfall of the CLO and the relative risk associated with the respective management fee cash flow projections. Amounts are presented as a spread over LIBOR . (3) Generally an increase in the default rate would be accompanied by a directionally opposite change in assumption for the recovery and pre-payment rates.	The disclosure provided below provides quantitative information about the significant unobservable inputs used in the valuation of the contingent liabilities of Legacy CLOs (see Note 10 ). December 31, 2015 December 31, 2015 December 31, 2014 Impact of Increase in Input on Fair Value Financial Liabilities Fair Value (in thousands) Valuation Technique Significant Unobservable Input Range Range Contingent Liabilities $ 8,338 Discounted cash flows Discount rate (2) 6.7% -12.0% 1.2%-12.5% Decrease Default rate (3) 2.0% 2.0% Decrease Recovery rate (3) 70% 70% Increase Pre-payment rate (3) 40% 35-40% Decrease Reinvestment spread of assets above LIBOR 3.0% -3.8% 3.0-3.8% Increase Reinvestment price of assets 100.0 100.0 Increase Explanatory Notes: ____________________________ (1) The impact of a decrease in input would have the opposite impact to the fair value as that presented in the table. (2) The discount rate varies by type of management fee (senior management fee, subordinated management fee, or incentive fee), the priority of that management fee in the waterfall of the CLO and the relative risk associated with the respective management fee cash flow projections. Amounts are presented as a spread over LIBOR . (3) Generally an increase in the default rate would be accompanied by a directionally opposite change in assumption for the recovery and pre-payment rates.
Schedule of carrying amounts and estimated fair values of financial assets and liabilities	The Company has not elected the fair value option for certain financial liabilities. A summary of the carrying value and estimated fair value of those liabilities are as follows: As of March 31, 2016 As of December 31, 2015 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value (In thousands) Financial liabilities: Long-term debt: Junior Subordinated Notes (1) $ 118,282 $ 52,549 $ 118,259 $ 57,371 Senior Notes (2) $ 37,955 $ 40,000 $ 37,902 $ 40,000 Explanatory Note: ________________________________ (1) The Junior Subordinated Notes include both the March and October Junior Subordinated Notes (Note 9 ). The estimated fair values of the Junior Subordinated Notes were determined using a discounted cash flow model which utilizes significant unobservable inputs, including discount rates, yield and forward LIBOR curve assumptions. This methodology is classified as Level 3 within the fair value hierarchy. (2) On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which	The Company has not elected the fair value option for certain financial liabilities. A summary of the carrying value and estimated fair value of those liabilities are as follows: As of December 31, 2015 As of December 31, 2014 Carrying Value Estimated Fair Value Carrying Value (3) Estimated Fair Value (In thousands) Financial liabilities: Long-term debt: Junior Subordinated Notes (1)(3) $ 118,259 $ 57,371 $ 118,170 $ 57,314 Senior Notes (2)(3) $ 37,902 $ 40,000 n/a n/a Explanatory Note: ________________________________ (1) The Junior Subordinated Notes include both the March and October Junior Subordinated Notes (Note 11 ). The estimated fair values of the Junior Subordinated Notes were determined using a discounted cash flow model which utilizes significant unobservable inputs, including discount rates, yield and forward LIBOR curve assumptions. This methodology is classified as Level 3 within the fair value hierarchy. (2) On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which is carried at its outstanding principal balance net of debt issuance costs (Note 11 ). The estimated fair value of the Senior Notes approximates issuance price from November 2, 2015. (3) Pursuant to the adoption of ASU 2015-03 the carrying value has been adjusted to reflect the presentation of debt issuance costs as a direct deduction from the related liability for all periods presented in accordance with amended guidance on simplifying the presentation of such costs.

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Intangible assets are comprised of the following: Weighted-Average Remaining Estimated Useful Life Gross Carrying Amount (1) Accumulated Amortization (2) Net Carrying Amount (In years) (In thousands) March 31, 2016: Investment management contracts 2.1 $ 40,405 $ 37,527 $ 2,878 Referral arrangement 3.5 3,810 2,286 1,524 Non-compete agreements 2.0 1,284 917 367 Trade name 5.0 1,250 626 624 Total intangible assets $ 46,749 $ 41,356 $ 5,393 December 31, 2015: Investment management contracts 2.4 $ 71,113 $ 67,040 $ 4,073 Referral arrangement 3.8 3,810 2,096 1,714 Non-compete agreements 2.2 1,535 1,122 413 Trade name 5.2 1,250 593 657 Total intangible assets $ 77,708 $ 70,851 $ 6,857 Explanatory Notes: _________________________________ (1) Gross carrying amounts as of March 31, 2016 have been reduced to reflect fully impaired and amortized assets. (2) During the three months ended March 31, 2016 and 2015 , the Company recorded amortization expense on its intangible assets of $0.9 million and $2.1 million , respectively.	Intangible assets are comprised of the following: Weighted-Average Remaining Estimated Useful Life Gross Carrying Amount (1) Accumulated Amortization (2) Net Carrying Amount (In years) (In thousands) December 31, 2015: Investment management contracts 2.4 $ 71,113 $ 67,040 $ 4,073 Referral arrangement 3.8 3,810 2,096 1,714 Non-compete agreements 2.2 1,535 1,122 413 Trade name 5.2 1,250 593 657 Total intangible assets $ 77,708 $ 70,851 $ 6,857 December 31, 2014: Investment management contracts 3.2 $ 72,941 $ 61,723 $ 11,218 Referral arrangement 4.8 3,810 1,334 2,476 Non-compete agreements 3.2 1,535 936 599 Trade name 6.3 1,250 469 781 Total intangible assets $ 79,536 $ 64,462 $ 15,074 Explanatory Notes: _________________________________ (1) Gross carrying amounts have been adjusted for impaired assets as of the date presented. (2) During the years ended December 31, 2015 and 2014 , the Company recorded amortization expense on its intangible assets of $6.4 million and $10.1 million , respectively.
Schedule of expected amortization expense of the existing intangible assets	The following table presents expected amortization expense of the existing intangible assets: (In thousands) 2016 (nine months remaining) $ 1,651 2017 1,726 2018 1,449 2019 411 2020 125 Thereafter 31 $ 5,393	The following table presents expected amortization expense of the existing intangible assets: (In thousands) 2016 $ 2,860 2017 1,929 2018 1,501 2019 411 2020 125 Thereafter 31 $ 6,857

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table summarizes the long-term debt: March 31, 2016 December 31, 2015 Par Carrying Value Weighted Average Borrowing Rate Weighted Average Remaining Maturity Par Carrying Value Weighted Average Borrowing Rate Weighted Average Remaining Maturity (In thousands) (In years) (In thousands) (In years) Recourse Debt: March Junior Subordinated Notes (1) $ 95,000 $ 93,476 3.20 % 19.6 $ 95,000 $ 93,456 2.90 % 19.8 October Junior Subordinated Notes (2) 25,000 24,806 4.12 % 19.6 25,000 24,803 3.82 % 19.8 Senior Notes (3) 40,000 37,955 8.50 % 9.6 40,000 37,902 8.50 % 9.8 Total Recourse Debt $ 160,000 $ 156,237 4.67 % 17.1 $ 160,000 $ 156,161 4.44 % 17.3 Non-Recourse Consolidated Entities' debt: Consolidated CLOs and Other (4) $ 1,360,725 $ 1,312,058 0.03 % 9.0 $ 1,385,226 $ 1,308,558 0.02 % 9.1 Total Non-recourse Debt $ 1,360,725 $ 1,312,058 0.03 % 9.0 $ 1,385,226 $ 1,308,558 0.02 % 9.1 Explanatory Notes: _______________________________ (1) March Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 2.58% until maturity on October 30, 2035. Prior to April 30, 2015, these notes bore interest at an annual rate of 1% . (2) October Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 3.50% and mature on October 30, 2035. (3) The Senior Notes bear interest at 8.5% and mature on October 30, 2025. As of January 1, 2016, the Company temporarily did not meet certain registration requirements under the indenture (and associated agreements) and incurred additional interest of 25 basis points per annum for the period ended March 31, 2016. Each 90 days thereafter interest will increase by 25 basis points (capped at 1% per annum) until cured. The Company has cured these conditions and expects the additional interest to end in July 2016. (4) The subordinated notes of the Consolidated CLOs do not have a stated interest rate and have been excluded from the calculation of the weighted average borrowing rate. As of March 31, 2016 and December 31, 2015 , long-term debt of the Consolidated CLOs and Other includes $151.7 million and $153.1 million of credit fund debt, respectively.	The following table summarizes the long-term debt of CIFC LLC and CIFC Corp. (1): December 31, 2015 December 31, 2014 Par Carrying Value (2) Weighted Average Borrowing Rate Weighted Average Remaining Maturity Par Carrying Value (2) Weighted Average Borrowing Rate Weighted Average Remaining Maturity (In thousands) (In years) (In thousands) (In years) Recourse Debt: March Junior Subordinated Notes (3) $ 95,000 $ 93,456 2.90 % 19.8 $ 95,000 $ 93,377 1.00 % 20.8 October Junior Subordinated Notes (4) 25,000 24,803 3.82 % 19.8 25,000 24,793 3.73 % 20.8 Senior Notes (5) 40,000 37,902 8.50 % 9.8 — — — % — Total Recourse Debt of CIFC LLC and CIFC Corp. $ 160,000 $ 156,161 4.44 % 17.3 $ 120,000 $ 118,170 1.57 % 20.8 Non-Recourse Consolidated Entities' debt: Consolidated CLOs and Other (6) $ 1,385,226 $ 1,308,558 0.02 % 9.1 $ 12,760,565 $ 11,998,034 1.77 % 8.7 Warehouses (7) — — — % — 51,000 51,000 1.89 % — Total Non-recourse Debt of CIFC LLC $ 1,385,226 $ 1,308,558 0.02 % 9.1 $ 12,811,565 $ 12,049,034 1.77 % 8.7 Total Non-recourse Debt of CIFC Corp. $ — $ — — % 0 $ 12,811,565 $ 12,049,034 1.77 % 8.7 Explanatory Notes: ________________________________ (1) As a result of the Reorganization Transaction (see Note 1 and Note 16 ), CIFC Corp. made a non-cash distribution in kind of certain of its subsidiary entities holding certain investment assets (e.g. investments in CLOs and Funds) to CIFC LLC. As such, as of December 31, 2015 , CIFC Corp. did not consolidate any CLOs. (2) Pursuant to the adoption of ASU 2015-03, the carrying values of recourse debt has been presented net of debt issuance costs. (3) March Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 2.58% until maturity on October 30, 2035. Prior to April 30, 2015, these notes bore interest at an annual rate of 1% . (4) October Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 3.50% and mature on October 30, 2035. (5) The Senior Notes bear interest at 8.5% and mature on October 30, 2025. (6) Pursuant to the adoption of ASU 2014-13, Long-term debt of the Consolidated CLOs has been remeasured in accordance with the new guidance (Notes 3 and 5 ). The subordinated notes of the Consolidated CLOs do not have a stated interest rate and have been excluded from the calculation of the weighted average borrowing rate. As of December 31, 2015 , long-term debt of the Consolidated CLOs includes $153.1 million of credit funds. (7) Long-term debt of warehouses not held by the Company is recorded at fair value. The fair value excludes the preferred shares of warehouses not held by the Company. As warehouses are generally terminated before the end of their terms, they are excluded from the calculation of the weighted average remaining maturity.

EQUITY (Tables)

EQUITY (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Schedule of Share-based Compensation Stock Options Activity	The following table summarizes certain share options activity: Number of Shares Underlying Share Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (In years) (In thousands) Outstanding at December 31, 2015 3,285,313 $ 6.69 4.64 $ 788 Exercised (1) (50,000 ) $ 4.83 Outstanding at March 31, 2016 3,235,313 $ 6.72 4.39 $ 2,659 Exercisable at March 31, 2016 2,980,731 $ 6.56 4.13 $ 2,658 Vested and Expected to vest at March 31, 2016 (2) 3,219,855 $ 6.71 4.38 $ 2,659 Explanatory Notes: ________________________________ (1) During the three months ended March 31, 2016 and 2015 , total intrinsic value of options exercised was $33.5 thousand and $78.5 thousand , respectively. (2) Includes a reduction to outstanding options at period end for expected forfeiture rate over the life of the options.	The following table summarizes certain Stock Options activity: Number of Shares Underlying Share Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (In years) (In thousands) Outstanding at December 31, 2014 3,635,313 $ 6.68 5.16 $ 6,146 Exercised (1) (103,906 ) $ 5.00 Forfeited (2) (159,531 ) $ 7.25 Expired (2) (86,563 ) $ 7.09 Outstanding at December 31, 2015 3,285,313 $ 6.69 4.64 $ 788 Exercisable at December 31, 2015 2,872,540 $ 6.50 4.21 $ 744 Vested and Expected to vest at December 31, 2015 (3) 3,263,392 $ 6.68 4.62 $ 786 Explanatory Notes: ________________________________ (1) During the year ended December 31, 2015 and 2014 , total intrinsic value of options exercised was $0.2 million and $0.3 million , respectively. (2) Forfeited and expired equity-based awards are returned to the grant pool for reissuance under the 2011 Stock Plan. (3) Includes a reduction to outstanding options at period end for expected forfeiture rate over the life of the options.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]		Management estimates the fair value of share-based awards using the Black-Scholes option pricing model. The Company did not grant any stock options during the year ended December 31, 2015 . The weighted average assumptions as of the grant date related to share-based awards (by period issued) are listed in the table below: For the Years Ended December 31, 2014 Expected dividend yield 4.54 % Expected volatility 42.65 % Risk-free interest rate 1.96 % Expected life (years) 5.77
Restricted Stock Units	he following table summarizes restricted share unit activity: For the Three Months Ended March 31, 2016 Weighted Average Grant Date Fair Value Restricted share units outstanding, beginning of period 2,033,510 $ 7.69 Granted (1)(2) 1,093,015 $ 5.78 Vested (240,611 ) $ 8.09 Forfeited (3) (5,988 ) $ 8.35 Restricted share units outstanding, end of period 2,879,926 $ 6.69 Explanatory Notes: _________________________________ (1) Weighted average grant date fair value excludes 360,000 of performance based RSUs for which performance hurdles will be determined in the future. (2) Shareholder approval is required to increase the number of shares available under the Company’s 2011 Stock and Incentive Plan to accommodate these new grants. (3) The forfeited share-based awards are returned to the grant pool for reissuance under the 2011 Stock Plan.	The following table summarizes restricted stock unit activity: For the Year Ended December 31, 2015 Weighted Average Grant Date Fair Value Restricted stock units outstanding, beginning of period 1,248,444 $ 8.01 Granted (1) 1,138,787 $ 7.21 Vested (286,592 ) $ 8.07 Forfeited (2) (67,129 ) $ 7.76 Restricted stock units outstanding, end of period 2,033,510 $ 7.69 Explanatory Notes: _________________________________ (1) Weighted average grant date fair value excludes 540,000 of performance based RSUs for which performance hurdles will be determined in the future. (2) The forfeited share-based awards are returned to the grant pool for reissuance under the 2011 Stock Plan.

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Schedule of calculation of basic and diluted earnings (loss) per share	The following table presents the calculation of basic and diluted earnings (loss) per share ("EPS"): For the Three Months Ended March 31, 2016 (1) 2015 (In thousands, except per share data) Net income (loss) attributable to the Company - basic & diluted $ 4,505 $ 5,428 Weighted-average shares - basic 25,355 25,279 Share options (2) 283 697 Warrants (3) — 458 Unvested RSUs 171 138 Weighted-average shares - diluted 25,809 26,572 Earnings (loss) per share Basic $ 0.18 $ 0.21 Diluted $ 0.17 $ 0.20 Explanatory Notes: ________________________________ (1) Earnings per share basic and diluted has been calculated assuming that the Dissenting Shares are outstanding. Excluding the Dissenting Shares, total weighted-average shares basic and diluted would be 23,328,479 and 23,783,188 , respectively, and earnings per share basic and diluted would be $0.19 (Note 10 and 16 ). (2) For the three months ended March 31, 2016 and 2015 , the Company excluded anti-dilutive share options from the calculation of diluted EPS of $2.0 million and of $0.7 million , respectively. (3) For the three months ended March 31, 2016 , the warrants were anti-dilutive for purposes of EPS. The warrants expire on January 24, 2017 (Note 13 ).	The following table presents the calculation of basic and diluted earnings (loss) per share ("EPS"): CIFC LLC CIFC Corp. CIFC LLC & CIFC Corp. For the Years Ended December 31, 2015 2015 2014 (In thousands, except per share data) Net income (loss) attributable to the Company - basic & diluted $ 334 $ 384 $ 8,381 Weighted-average shares - basic 25,315 25,315 22,909 Stock options (1) 590 590 674 Warrants (2) 311 311 500 Unvested RSUs 198 198 85 Weighted-average shares - diluted 26,414 26,414 24,168 Earnings (loss) per share Basic $ 0.01 $ 0.02 $ 0.37 Diluted $ 0.01 $ 0.01 $ 0.35 Explanatory Notes: ________________________________ (1) For the years ended December 31, 2015 and 2014 , the Company excluded anti-dilutive stock options from the calculation of diluted EPS of 1.1 million and of 0.8 million , respectively. (2) On September 24, 2015, the term of the warrants was extended to January 24, 2017 (Note 12 ).

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Operating Loss Carryforwards [Line Items]
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The following table summarizes the Company's tax provision: For the Three Months Ended March 31, 2016 2015 (In thousands) Income (loss) before income taxes $ 5,785 $ 8,769 Income tax expense $ 1,278 $ 3,087 Effective income tax rate (1) 22.1 % 35.2 % Explanatory Note: ________________________________ (1) During 2015, the Company adopted new accounting standards that impacted Income (loss) before income taxes for the three months ended March 31, 2015 (Note 2 ). The change has resulted in the change of the effective income tax rate. In addition, for the three months ended March 31, 2016 and 2015 deferred income tax expense (benefit) was $1.3 million and $(0.2) million , respectively.	The following table reconciles the Company's effective tax rate to the U.S. federal statutory tax rate: For the Year Ended December 31, 2015 2014 Statutory U.S. federal income tax rate 35.00 % 35.00 % Reconciling items: Income passed through to common shareholders and non-controlling interest holders (1) (0.84 )% 73.69 % State income taxes, net of federal effect (0.67 )% 31.92 % Nondeductible expenses 2.74 % 26.22 % Effect of tax law changes 24.02 % 64.67 % Valuation allowance release — % (2.88 )% PTP Conversion adjustments 35.04 % — % Other 1.04 % (3.32 )% Effective income tax rate (2) 96.33 % 225.30 % Explanatory Notes: ________________________________ (1) Includes income that is not taxable to the Company. Such income is directly taxable to the non-controlling interest holders in the Consolidated CLOs. (2) The effective tax rate is calculated on "Income (loss) before income tax expense (benefit)".

FINANCIAL INFORMATION FOR SUB33

FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS AND NON-GUARANTORS Condensed Financial Statements (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Condensed Financial Information [Abstract]
Condensed Balance Sheet [Table Text Block]	Condensed Consolidating Balance Sheets (Unaudited) March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ 1,094 $ 382 $ 50,535 $ — $ — $ 52,011 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 159,177 — (81,830 ) 77,347 Intercompany investments in subsidiaries 177,449 104,281 113,497 — (395,227 ) — Receivables 154 3,546 7,909 — (2,684 ) 8,925 Prepaid and other assets — 1,172 1,645 — — 2,817 Deferred tax asset, net — 43,110 — — — 43,110 Equipment and improvements, net — — 4,562 — — 4,562 Intangible assets, net — 5,393 — — — 5,393 Goodwill — 66,549 9,451 — — 76,000 Subtotal 178,697 224,433 348,470 — (479,741 ) 271,859 Assets of Consolidated Entities: Restricted cash and cash equivalents — — — 80,592 — 80,592 Due from brokers — — — 24,293 — 24,293 Investments — — — 1,346,963 — 1,346,963 Receivables — — — 4,185 — 4,185 Prepaid and other assets — — — 187 — 187 Total assets of Consolidated Entities — — — 1,456,220 — 1,456,220 TOTAL ASSETS $ 178,697 $ 224,433 $ 348,470 $ 1,456,220 $ (479,741 ) $ 1,728,079 LIABILITIES Distributions payable $ 8,670 $ — $ — $ — $ — $ 8,670 Accrued and other liabilities 1,322 4,172 9,126 — (2,169 ) 12,451 Contingent liabilities — — 8,142 — — 8,142 Long-term debt — 156,237 — — — 156,237 Subtotal 9,992 160,409 17,268 — (2,169 ) 185,500 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — — 49,350 — 49,350 Accrued and other liabilities — — — 623 (394 ) 229 Interest payable — — — 4,595 (121 ) 4,474 Long-term debt — — — 1,360,255 (48,197 ) 1,312,058 Total Non-Recourse Liabilities of Consolidated Entities — — — 1,414,823 (48,712 ) 1,366,111 TOTAL LIABILITIES 9,992 160,409 17,268 1,414,823 (50,881 ) 1,551,611 EQUITY (Note 10) Common shares 25 1 — — (1 ) 25 Intercompany Preferred Units (1) — — 85,000 — (85,000 ) — Treasury shares (435 ) — — — — (435 ) Additional paid-in capital 994,771 885,377 662,399 — (1,547,781 ) 994,766 Retained earnings (deficit) (825,656 ) (821,354 ) (416,197 ) — 1,237,551 (825,656 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY 168,705 64,024 331,202 — (395,231 ) 168,700 Consolidated Fund Equity/Noncontrolling interests (Note 2) — — — 41,397 (33,629 ) 7,768 TOTAL EQUITY 168,705 64,024 331,202 41,397 (428,860 ) 176,468 TOTAL LIABILITIES AND EQUITY $ 178,697 $ 224,433 $ 348,470 $ 1,456,220 $ (479,741 ) $ 1,728,079 Explanatory Note: _________________________________ (1) CIFC Corp. holds 85.0 million of intercompany non-voting series A preferred units that bear an annual rate of 3.5% . Consolidating Balance Sheets (Unaudited) December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ — $ 1,392 $ 56,576 $ — $ — $ 57,968 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 152,455 — (81,759 ) 70,696 Intercompany investments in subsidiaries 170,174 120,896 61,004 — (352,074 ) — Receivables 785 295 27,242 — (21,247 ) 7,075 Prepaid and other assets — 1,621 352 — — 1,973 Deferred tax asset, net — 44,425 — — — 44,425 Equipment and improvements, net — — 4,866 — — 4,866 Intangible assets, net — 6,232 625 — — 6,857 Goodwill — 66,549 9,451 — — 76,000 Subtotal 170,959 241,410 314,265 — (455,080 ) 271,554 Assets of Consolidated Entities: Restricted cash and cash equivalents — — — 94,018 — 94,018 Due from brokers — — — 25,910 — 25,910 Investments — — — 1,351,403 — 1,351,403 Receivables — — — 4,109 — 4,109 Prepaid and other assets — — — 209 — 209 Total assets of Consolidated Entities — — — 1,475,649 — 1,475,649 TOTAL ASSETS $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 LIABILITIES Due to brokers $ — $ 61 $ — $ — $ — $ 61 Accrued and other liabilities 50 24,185 14,808 — (20,646 ) 18,397 Contingent liabilities — — 8,338 — — 8,338 Long-term debt — 156,161 — — — 156,161 Subtotal 50 180,407 23,146 — (20,646 ) 182,957 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — — 71,603 — 71,603 Accrued and other liabilities — — — 631 (438 ) 193 Interest payable — — — 5,257 (167 ) 5,090 Long-term debt — — — 1,357,095 (48,537 ) 1,308,558 Total Non-Recourse Liabilities of Consolidated Entities — — — 1,434,586 (49,142 ) 1,385,444 TOTAL LIABILITIES 50 180,407 23,146 1,434,586 (69,788 ) 1,568,401 EQUITY (Note 10) Common shares 25 25 — — (25 ) 25 Intercompany Preferred Units (1) — — 85,000 — (85,000 ) — Additional paid-in capital 992,425 992,419 528,946 — (1,521,371 ) 992,419 Retained earnings (deficit) (821,541 ) (931,441 ) (322,827 ) — 1,254,318 (821,491 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY 170,909 61,003 291,119 — (352,078 ) 170,953 Consolidated Fund Equity / Noncontrolling interests (Note 2) — — — 41,063 (33,214 ) 7,849 TOTAL EQUITY 170,909 61,003 291,119 41,063 (385,292 ) 178,802 TOTAL LIABILITIES AND EQUITY $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 Explanatory Note: _________________________________ (1) CIFC Corp. holds 85.0 million of intercompany non-voting series A preferred units that bear an annual rate of 3.5% .	CIFC LLC AND ITS SUBSIDIARIES Consolidating Balance Sheets December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ — $ 1,392 $ 56,576 $ — $ — $ 57,968 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 152,455 — (81,759 ) 70,696 Intercompany investments in subsidiaries 170,174 35,896 61,004 — (267,074 ) — Intercompany investment in wholly-owned subsidiaries of CIFC LLC (Note 16) — 85,000 — — (85,000 ) — Receivables 785 295 27,242 — (21,247 ) 7,075 Prepaid and other assets — 1,621 352 — — 1,973 Deferred tax asset, net — 44,425 — — — 44,425 Equipment and improvements, net — — 4,866 — — 4,866 Intangible assets, net — 6,232 625 — — 6,857 Goodwill — 66,549 9,451 — — 76,000 Subtotal 170,959 241,410 314,265 — (455,080 ) 271,554 Assets of Consolidated Entities: Restricted cash and cash equivalents — — — 94,018 — 94,018 Due from brokers — — — 25,910 — 25,910 Investments — — — 1,351,403 — 1,351,403 Receivables — — — 4,109 — 4,109 Prepaid and other assets — — — 209 — 209 Total assets of Consolidated Entities — — — 1,475,649 — 1,475,649 TOTAL ASSETS $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 LIABILITIES Due to brokers $ — $ 61 $ — $ — $ — $ 61 Accrued and other liabilities 50 24,185 14,808 — (20,646 ) 18,397 Contingent liabilities — — 8,338 — — 8,338 Long-term debt — 156,161 — — — 156,161 Subtotal 50 180,407 23,146 — (20,646 ) 182,957 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — — 71,603 — 71,603 Accrued and other liabilities — — — 631 (438 ) 193 Interest payable — — — 5,257 (167 ) 5,090 Long-term debt — — — 1,357,095 (48,537 ) 1,308,558 Total Non-Recourse Liabilities of Consolidated Entities — — — 1,434,586 (49,142 ) 1,385,444 TOTAL LIABILITIES 50 180,407 23,146 1,434,586 (69,788 ) 1,568,401 EQUITY Common shares, par value $0.001: 500,000,000 shares authorized, 25,314,756 issued and 25,314,756 outstanding as of December 31, 2015 25 25 — — (25 ) 25 Intercompany Preferred Units (Note 16) — — 85,000 — (85,000 ) — Treasury shares, at cost: 130,444 shares as of December 31, 2014 — — — — — Additional paid-in capital 992,425 992,419 528,946 — (1,521,371 ) 992,419 Retained earnings (deficit) (821,541 ) (931,441 ) (322,827 ) — 1,254,318 (821,491 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY 170,909 61,003 291,119 — (352,078 ) 170,953 Consolidated Fund Equity / Noncontrolling interests (Note 2) — — — 41,063 (33,214 ) 7,849 TOTAL EQUITY 170,909 61,003 291,119 41,063 (385,292 ) 178,802 TOTAL LIABILITIES AND EQUITY $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 CIFC LLC AND ITS SUBSIDIARIES Consolidating Balance Sheets December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ — $ 2,156 $ 57,134 $ — $ — $ 59,290 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 80,115 — (41,416 ) 38,699 Intercompany investments in subsidiaries 156,053 — — (156,053 ) — Receivables — 721 5,759 — (4,345 ) 2,135 Prepaid and other assets — 2,106 179 — — 2,285 Deferred tax asset, net — 55,475 — — — 55,475 Equipment and improvements, net — — 5,194 — — 5,194 Intangible assets, net — 13,275 1,799 — — 15,074 Goodwill — 66,550 9,450 — — 76,000 Subtotal — 296,336 161,324 — (201,814 ) 255,846 Assets of Consolidated Entities: Restricted cash and cash equivalents — — 6,872 928,544 — 935,416 Due from brokers — — 36,645 83,896 — 120,541 Investments — — 44,083 11,728,743 11,772,826 Receivables — — 281 40,713 — 40,994 Prepaid and other assets — — — 20,682 — 20,682 Total assets of Consolidated Entities — — 87,881 12,802,578 — 12,890,459 TOTAL ASSETS $ — $ 296,336 $ 249,205 $ 12,802,578 $ (201,814 ) $ 13,146,305 LIABILITIES Accrued and other liabilities — 1,846 13,738 — — 15,584 Contingent liabilities — — 12,668 — — 12,668 Long-term debt — 118,170 — — — 118,170 Subtotal — 120,016 26,406 — — 146,422 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — 15,583 375,708 — 391,291 Accrued and other liabilities — — — 5,825 (4,343 ) 1,482 Interest payable — — 163 36,013 (2 ) 36,174 Long-term debt — — 51,000 12,023,272 (25,238 ) 12,049,034 Total Non-Recourse Liabilities of Consolidated Entities — — 66,746 12,440,818 (29,583 ) 12,477,981 TOTAL LIABILITIES — 120,016 93,152 12,440,818 (29,583 ) 12,624,403 EQUITY Common shares, par value $0.001: 500,000,000 shares authorized, 25,323,417 issued and 25,192,973 outstanding as of December 31, 2014 — 25 — — — 25 Treasury shares, at cost: 130,444 shares as of December 31, 2014 — (914 ) — — — (914 ) Additional paid-in capital — 988,904 591,518 — (591,518 ) 988,904 Retained earnings (deficit) — (811,695 ) (435,465 ) — 435,465 (811,695 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY — 176,320 156,053 — (156,053 ) 176,320 Consolidated Fund Equity/Noncontrolling interests (Note 2) — — — 226,996 (16,178 ) 210,818 Appropriated retained earnings (deficit) of Consolidated VIEs (Note 3) — — — 134,764 134,764 TOTAL EQUITY — 176,320 156,053 361,760 (172,231 ) 521,902 TOTAL LIABILITIES AND EQUITY $ — $ 296,336 $ 249,205 $ 12,802,578 $ (201,814 ) $ 13,146,305
Condensed Income Statement [Table Text Block]	Consolidating Statements of Operations (Unaudited) For The Three Months Ended March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 21,521 $ — $ (1,706 ) $ 19,815 Interest income from investments — 744 3,217 — (3,028 ) 933 Interest income - Consolidated Entities — — — 18,990 — 18,990 Total net revenues — 744 24,738 18,990 (4,734 ) 39,738 Expenses Employee compensation and benefits — — 9,514 — — 9,514 Share-based compensation 130 130 2,121 — — 2,381 Professional services 308 885 879 — — 2,072 General and administrative expenses 132 644 1,741 — — 2,517 Depreciation and amortization — 839 457 — — 1,296 Impairment of intangible assets — — 531 — — 531 Corporate interest expense — 1,957 744 — (744 ) 1,957 Expenses - Consolidated Entities — — — 2,094 (1,706 ) 388 Interest expense - Consolidated Entities — — — 8,595 (175 ) 8,420 Total expenses 570 4,455 15,987 10,689 (2,625 ) 29,076 Other Gain (Loss) Net gain (loss) on investments — — 1,677 — (1,406 ) 271 Net gain (loss) on contingent liabilities — — (364 ) — — (364 ) Net gain (loss) on investments - Consolidated Entities — — — 2,600 — 2,600 Net gain (loss) on liabilities - Consolidated Entities — — — (10,487 ) 3,103 (7,384 ) Intercompany net gain (loss) on investments in subsidiaries 5,075 5,859 871 — (11,805 ) — Net other gain (loss) 5,075 5,859 2,184 (7,887 ) (10,108 ) (4,877 ) Income (loss) before income taxes 4,505 2,148 10,935 414 (12,217 ) 5,785 Income tax (expense) benefit — (1,278 ) — — — (1,278 ) Net income (loss) 4,505 870 10,935 414 (12,217 ) 4,507 Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (414 ) 412 (2 ) Net income (loss) attributable to CIFC LLC $ 4,505 $ 870 $ 10,935 $ — $ (11,805 ) $ 4,505 Consolidating Statements of Operations (Unaudited) For The Three Months Ended March 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 21,833 $ — $ (219 ) $ 21,614 Interest income from investments — — 2,736 — (129 ) 2,607 Interest income - Consolidated Entities — — 823 1,933 — 2,756 Total net revenues — — 25,392 1,933 (348 ) 26,977 Expenses Employee compensation and benefits — — 8,564 — — 8,564 Share-based compensation — 142 1,538 — — 1,680 Professional services — 1,078 848 — — 1,926 General and administrative expenses — 958 1,339 — — 2,297 Depreciation and amortization — 1,821 588 — — 2,409 Impairment of intangible assets — 281 — — — 281 Corporate interest expense — 494 — — — 494 Expenses - Consolidated Entities — — 15 1,472 (219 ) 1,268 Interest expense - Consolidated Entities — — 231 513 — 744 Total expenses — 4,774 13,123 1,985 (219 ) 19,663 Other Gain (Loss) Net gain (loss) on investments — — 939 — 254 1,193 Net gain (loss) on contingent liabilities — — (713 ) — — (713 ) Net gain (loss) on investments - Consolidated Entities — — 796 2,001 — 2,797 Net gain (loss) on liabilities - Consolidated Entities — — — (1,826 ) (434 ) (2,260 ) Net gain (loss) on other investments and derivatives - Consolidated Entities — — — 438 — 438 Intercompany net gain (loss) on investments in subsidiaries — 13,289 — — (13,289 ) — Net other gain (loss) — 13,289 1,022 613 (13,469 ) 1,455 Income (loss) before income taxes — 8,515 13,291 561 (13,598 ) 8,769 Income tax (expense) benefit — (3,087 ) — — — (3,087 ) Net income (loss) — 5,428 13,291 561 (13,598 ) 5,682 Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (561 ) 307 (254 ) Net income (loss) attributable to CIFC LLC $ — $ 5,428 $ 13,291 $ — $ (13,291 ) $ 5,428	CIFC LLC AND ITS SUBSIDIARIES Consolidating Statements of Operations For The Year Ended December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 96,765 $ — $ (4,686 ) $ 92,079 Interest income from investments — — 6,564 — (1,231 ) 5,333 Interest income - Consolidated Entities — — 823 24,283 — 25,106 Total net revenues — — 104,152 24,283 (5,917 ) 122,518 Expenses Employee compensation and benefits — — 32,027 — — 32,027 Share-based compensation — 299 5,251 — — 5,550 Professional services 50 6,411 3,474 — — 9,935 General and administrative expenses — 3,392 6,530 — — 9,922 Depreciation and amortization — 5,543 2,234 — — 7,777 Impairment of intangible assets — 1,501 327 — — 1,828 Corporate interest expense — 3,808 — — — 3,808 Expenses - Consolidated Entities — — 15 15,448 (4,689 ) 10,774 Interest expense - Consolidated Entities — — 232 9,839 (167 ) 9,904 Total expenses 50 20,954 50,090 25,287 (4,856 ) 91,525 Other Gain (Loss) Net gain (loss) on investments — — (6,071 ) — 1,890 (4,181 ) Net gain (loss) on contingent liabilities — — (2,210 ) — — (2,210 ) Net gain (loss) on investments - Consolidated Entities — — 796 (26,910 ) — (26,114 ) Net gain (loss) on liabilities - Consolidated Entities — — — 26,147 (1,401 ) 24,746 Net gain (loss) on other investments and derivatives - Consolidated Entities — — — 2,970 — 2,970 Intercompany net gain (loss) on investments in subsidiaries — 46,577 — — (46,577 ) — Net other gain (loss) — 46,577 (7,485 ) 2,207 (46,088 ) (4,789 ) Income (loss) before income taxes (50 ) 25,623 46,577 1,203 (47,149 ) 26,204 Income tax (expense) benefit — (25,239 ) — — — (25,239 ) Net income (loss) (50 ) 384 46,577 1,203 (47,149 ) 965 Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (1,203 ) 572 (631 ) Net income (loss) attributable to CIFC LLC $ (50 ) $ 384 $ 46,577 $ — $ (46,577 ) $ 334 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statements of Operations For The Year Ended December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 84,201 $ — $ (79,333 ) $ 4,868 Interest income from investments — 1 10,341 — (9,552 ) 790 Interest income - Consolidated Entities — — 2,387 514,865 — 517,252 Total net revenues — 1 96,929 514,865 (88,885 ) 522,910 Expenses Employee compensation and benefits — — 28,805 — — 28,805 Share-based compensation — 274 2,418 — — 2,692 Professional services — 3,964 3,295 — — 7,259 General and administrative expenses — 3,523 7,163 — — 10,686 Depreciation and amortization — 8,512 2,909 — — 11,421 Corporate interest expense — 3,915 321 — — 4,236 Expenses - Consolidated Entities — — 1,025 118,383 (79,334 ) 40,074 Interest expense - Consolidated Entities — — 425 171,513 (7 ) 171,931 Total expenses — 20,188 46,361 289,896 (79,341 ) 277,104 Other Gain (Loss) Net gain (loss) on investments — — 3,664 — (1,190 ) 2,474 Net gain (loss) on contingent liabilities — — (2,932 ) — — (2,932 ) Net gain (loss) on investments - Consolidated Entities — — (803 ) (227,974 ) — (228,777 ) Net gain (loss) on liabilities - Consolidated Entities — — — (18,123 ) 9,127 (8,996 ) Net gain (loss) on other investments and derivatives - Consolidated Entities — — — 2,031 — 2,031 Intercompany net gain (loss) on investments in subsidiaries — 50,726 — — (50,726 ) — Net gain on sale of management contract — — 229 — — 229 Net other gain (loss) — 50,726 158 (244,066 ) (42,789 ) (235,971 ) Income (loss) before income taxes — 30,539 50,726 (19,097 ) (52,333 ) 9,835 Income tax (expense) benefit — (22,158 ) — — — (22,158 ) Net income (loss) — 8,381 50,726 (19,097 ) (52,333 ) (12,323 ) Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — 19,097 1,607 20,704 Net income (loss) attributable to CIFC LLC $ — $ 8,381 $ 50,726 $ — $ (50,726 ) $ 8,381
Condensed Statement of Comprehensive Income [Table Text Block]	Consolidating Statement of Comprehensive Income (Loss) (Unaudited) For The Three Months Ended March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ 4,505 $ 870 $ 10,935 $ 414 $ (12,217 ) $ 4,507 Other comprehensive income (loss) — — — — — — Comprehensive income (loss) 4,505 870 10,935 414 (12,217 ) 4,507 Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (414 ) 412 (2 ) Comprehensive income (loss) attributable to CIFC LLC $ 4,505 $ 870 $ 10,935 $ — $ (11,805 ) $ 4,505 Consolidating Statement of Comprehensive Income (Loss) (Unaudited) For The Three Months Ended March 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ — $ 5,428 $ 13,291 $ 561 $ (13,598 ) $ 5,682 Other comprehensive income (loss) — — — — — — Comprehensive income (loss) — 5,428 13,291 561 (13,598 ) 5,682 Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (561 ) 307 (254 ) Comprehensive income (loss) attributable to CIFC LLC $ — $ 5,428 $ 13,291 $ — $ (13,291 ) $ 5,428	CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Comprehensive Income (Loss) For The Year Ended December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ (50 ) $ 384 $ 46,577 $ 1,203 $ (47,149 ) $ 965 Other comprehensive income (loss) — — — — — — Comprehensive income (loss) (50 ) 384 46,577 1,203 (47,149 ) 965 Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (1,203 ) 572 (631 ) Comprehensive income (loss) attributable to CIFC LLC $ (50 ) $ 384 $ 46,577 $ — $ (46,577 ) $ 334 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Comprehensive Income (Loss) For The Year Ended December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ — $ 8,381 $ 50,726 $ (19,097 ) $ (52,333 ) $ (12,323 ) Other comprehensive income (loss) — — — — — — Comprehensive income (loss) — 8,381 50,726 (19,097 ) (52,333 ) (12,323 ) Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — 19,097 1,607 20,704 Comprehensive income (loss) attributable to CIFC LLC $ — $ 8,381 $ 50,726 $ — $ (50,726 ) $ 8,381
Condensed Cash Flow Statement [Table Text Block]	Consolidating Statement of Cash Flows (Unaudited) For The Three Months Ended March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In Thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 4,505 $ 870 $ 10,935 $ 414 $ (12,217 ) $ 4,507 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 76 — — — 76 Share-based compensation 130 130 2,121 — — 2,381 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — (1,315 ) — 1,408 93 Intercompany net (gain) loss on investments in subsidiaries (5,075 ) (5,859 ) (871 ) — 11,805 — Depreciation and amortization — 839 457 — — 1,296 Impairment of intangible assets — — 531 — — 531 Deferred income tax expense (benefit) — 1,315 — — — 1,315 Excess tax benefits from share-based payment arrangements — 230 — — — 230 Consolidated Entities: Net (gain) loss on investments — — — (2,600 ) — (2,600 ) Net (gain) loss on liabilities — — — 10,487 (3,103 ) 7,384 Changes in operating assets and liabilities: Receivables 631 (3,120 ) 19,335 — (18,696 ) (1,850 ) Prepaid and other assets — 451 (1,299 ) — — (848 ) Due to brokers — (62 ) 1 — — (61 ) Accrued and other liabilities 1,142 (20,015 ) (5,194 ) — 18,606 (5,461 ) Consolidated Entities: Due from brokers — — — 1,616 — 1,616 Purchase of investments — — — (114,723 ) — (114,723 ) Sales of investments — — — 121,766 — 121,766 Receivables — — — (52 ) — (52 ) Due to brokers — — — (22,253 ) — (22,253 ) Accrued and other liabilities — — — (11 ) 43 32 Interest payable — — — (660 ) 44 (616 ) Net cash provided by (used in) operating activities 1,333 (25,145 ) 24,701 (6,016 ) (2,110 ) (7,237 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of investments — — (17,553 ) — 1,419 (16,134 ) Sales of investments — — 12,466 — (2,754 ) 9,712 Intercompany investments in subsidiaries — 22,474 (2,151 ) — (20,323 ) — Purchases of equipment and improvements — — (61 ) — — (61 ) Consolidated Entities: Change in restricted cash and cash equivalents — — — 13,426 — 13,426 Net cash provided by (used in) investing activities — 22,474 (7,299 ) 13,426 (21,658 ) 6,943 CASH FLOWS FROM FINANCING ACTIVITIES: Repurchases of common shares (435 ) — — — — (435 ) Intercompany contributions — 1,891 9,629 24 (11,544 ) — Intercompany distributions — — (32,073 ) (24 ) 32,097 — Proceeds from the exercise of options 241 — — — — 241 Payments for tax from the net delivery of restricted share units (45 ) — — — — (45 ) Payments on contingent liabilities — — (999 ) — — (999 ) Excess tax benefits from share-based payment arrangements — (230 ) — — — (230 ) Consolidated Entities: Distributions to noncontrolling interests — — — (83 ) — (83 ) Proceeds from issuance of long-term debt — — — 3,830 — 3,830 Payments made on long-term debt — — — (11,157 ) 3,215 (7,942 ) Net cash provided by (used in) financing activities (239 ) 1,661 (23,443 ) (7,410 ) 23,768 (5,663 ) Net increase (decrease) in cash and cash equivalents 1,094 (1,010 ) (6,041 ) — — (5,957 ) Cash and cash equivalents at beginning of period — 1,392 56,576 — — 57,968 Cash and cash equivalents at end of period $ 1,094 $ 382 $ 50,535 $ — $ — $ 52,011 Consolidating Statement of Cash Flows (Unaudited) For The Three Months Ended March 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ — $ 5,428 $ 13,291 $ 561 $ (13,598 ) $ 5,682 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 22 — — — 22 Share-based compensation — 142 1,538 — — 1,680 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — (225 ) — (255 ) (480 ) Intercompany net (gain) loss on investments in subsidiaries — (13,289 ) — — 13,289 — Depreciation and amortization — 1,821 588 — — 2,409 Impairment of intangible assets — 281 — — — 281 Deferred income tax expense (benefit) — (150 ) — — — (150 ) Excess tax benefits from share-based payment arrangements — (8 ) — — — (8 ) Consolidated Entities: Net (gain) loss on investments — — (796 ) (2,001 ) — (2,797 ) Net (gain) loss on liabilities — — — 1,826 434 2,260 Net other (gain) loss — — — (438 ) — (438 ) Changes in operating assets and liabilities: Due from brokers — — (974 ) — — (974 ) Receivables — 721 (3,163 ) — 2,903 461 Prepaid and other assets — 486 (1,489 ) — — (1,003 ) Due to brokers — — 6,245 — — 6,245 Accrued and other liabilities — 3,480 (7,920 ) — (2,514 ) (6,954 ) Consolidated Entities: Due from brokers — — 14,459 (4,111 ) — 10,348 Purchase of investments — — (55,017 ) (88,697 ) — (143,714 ) Sales of investments — — 47,462 21,677 — 69,139 Receivables — — (352 ) (86 ) — (438 ) Due to brokers — — (7,882 ) 55,950 — 48,068 Accrued and other liabilities — — 6 384 (390 ) — Interest payable — — (8 ) 18 — 10 Net cash provided by (used in) operating activities — (1,066 ) 5,763 (14,917 ) (131 ) (10,351 ) CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from the sale of management contracts — — — — — — Purchases of investments — — (78,632 ) — 65,439 (13,193 ) Sales of investments — — 57,449 — (22,148 ) 35,301 Intercompany investments in subsidiaries — (123,962 ) — — 123,962 — Intercompany distributions from subsidiaries — 123,962 — — (123,962 ) — Purchases of equipment and improvements — — (403 ) — — (403 ) Consolidated Entities: Change in restricted cash and cash equivalents — — 755 (55,628 ) — (54,873 ) Net cash provided by (used in) investing activities — — (20,831 ) (55,628 ) 43,291 (33,168 ) CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany contributions — — 123,962 — (123,962 ) — Intercompany distributions — — (123,962 ) — 123,962 — Proceeds from the exercise of options — 121 — — — 121 Payments for tax from the net delivery of restricted share units — (265 ) — — — (265 ) Payments on contingent liabilities — — (1,559 ) — — (1,559 ) Excess tax benefits from share-based payment arrangements — 8 — — — 8 Consolidated Entities: Contributions from noncontrolling interests — — — 14,712 (2,612 ) 12,100 Distributions to noncontrolling interests — — — (970 ) — (970 ) Proceeds from issuance of long-term debt — — — 73,777 10,323 84,100 Payments made on long-term debt — — — (16,974 ) (50,871 ) (67,845 ) Net cash provided by (used in) financing activities — (136 ) (1,559 ) 70,545 (43,160 ) 25,690 Net increase (decrease) in cash and cash equivalents — (1,202 ) (16,627 ) — — (17,829 ) Cash and cash equivalents at beginning of period — 2,156 57,134 — — 59,290 Cash and cash equivalents at end of period $ — $ 954 $ 40,507 $ — $ — $ 41,461	CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Cash Flows For The Year Ended December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In Thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (50 ) $ 384 $ 46,577 $ 1,203 $ (47,149 ) $ 965 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 125 — — — 125 Share-based compensation — 299 5,251 — — 5,550 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — 8,281 — (1,890 ) 6,391 Intercompany net (gain) loss on investments in subsidiaries — (46,577 ) — 46,577 — Depreciation and amortization — 5,543 2,234 — — 7,777 Impairment of intangible assets — 1,501 327 — — 1,828 Deferred income tax expense (benefit) — 11,050 — — — 11,050 Excess tax benefits from share-based payment arrangements — 128 — — — 128 Consolidated Entities: Net (gain) loss on investments — — (796 ) 26,910 — 26,114 Net (gain) loss on liabilities — — — (26,147 ) 1,401 (24,746 ) Net other (gain) loss — — — (2,970 ) — (2,970 ) Changes in operating assets and liabilities: Receivables (785 ) 424 (21,480 ) (245 ) 21,179 (907 ) Prepaid and other assets — 481 (168 ) — — 313 Due to brokers — 61 — — — 61 Accrued and other liabilities 50 22,219 (1,928 ) — (20,649 ) (308 ) Consolidated Entities: Due from brokers — — 36,645 (27,647 ) — 8,998 Purchase of investments — — (55,017 ) (951,887 ) — (1,006,904 ) Sales of investments — — 99,895 371,805 — 471,700 Receivables — — 281 (1,618 ) — (1,337 ) Due to brokers — — (15,583 ) 59,008 — 43,425 Accrued and other liabilities — — — 460 (373 ) 87 Interest payable — — (163 ) 2,622 (167 ) 2,292 Net cash provided by (used in) operating activities (785 ) (4,362 ) 104,356 (548,506 ) (1,071 ) (450,368 ) CASH FLOWS FROM INVESTING ACTIVITIES: — Purchases of investments — — (232,539 ) — 166,008 (66,531 ) Sales of investments — — 154,179 9,660 (94,977 ) 68,862 Intercompany investments in subsidiaries — (148,422 ) — — 148,422 — Intercompany distributions from subsidiaries 785 125,404 — — (126,189 ) — Purchases of equipment and improvements — — (1,059 ) — — (1,059 ) Consolidated Entities: Change in restricted cash and cash equivalents — — 6,871 (48,005 ) — (41,134 ) Net cash provided by (used in) investing activities 785 (23,018 ) (72,548 ) (38,345 ) 93,264 (39,862 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of long-term debt — 40,000 — — — 40,000 Debt issuance cost — (2,133 ) — — — (2,133 ) Repurchases of common shares — (1,151 ) — — — (1,151 ) Distributions paid — (10,130 ) — — — (10,130 ) Intercompany contributions — — 148,422 — (148,422 ) — Intercompany distributions — — (126,189 ) — 126,189 — Proceeds from extension of warrants — 350 — — — 350 Proceeds from the exercise of options — 74 — — — 74 Payments for tax from the net delivery of restricted stock units — (266 ) — — — (266 ) Deferred purchase payments and payments on contingent liabilities — — (3,599 ) — — (3,599 ) Excess tax benefits from share-based payment arrangements — (128 ) — — — (128 ) Consolidated Entities: Contributions from noncontrolling interests — — — 37,741 (21,641 ) 16,100 Distributions to noncontrolling interests — — — (15,307 ) — (15,307 ) Proceeds from issuance of long-term debt — — — 809,695 (173,772 ) 635,923 Payments made on long-term debt — — (51,000 ) (245,278 ) 125,453 (170,825 ) Net cash provided by (used in) financing activities — 26,616 (32,366 ) 586,851 (92,193 ) 488,908 Net increase (decrease) in cash and cash equivalents — (764 ) (558 ) — — (1,322 ) Cash and cash equivalents at beginning of period — 2,156 57,134 — — 59,290 Cash and cash equivalents at end of period $ — $ 1,392 $ 56,576 $ — $ — $ 57,968 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Cash Flows For The Year Ended December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ — $ 8,381 $ 50,726 $ (19,097 ) $ (52,333 ) $ (12,323 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 696 321 — — 1,017 Share-based compensation — 274 2,418 — — 2,692 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — (731 ) — 1,189 458 Intercompany net (gain) loss on investments in subsidiaries — (50,726 ) — — 50,726 — Depreciation and amortization — 8,512 2,909 — — 11,421 Deferred income tax expense (benefit) — 3,932 — — — 3,932 Excess tax benefits from share-based payment arrangements — (171 ) — — — (171 ) Net gain on the sale of management contract — — (229 ) — — (229 ) Consolidated Entities: Net (gain) loss on investments — — 803 227,974 — 228,777 Net (gain) loss on liabilities — — — 18,123 (9,127 ) 8,996 Net other (gain) loss — — (2,031 ) — (2,031 ) Changes in operating assets and liabilities: Due from brokers — — 13,827 (995 ) — 12,832 Receivables — (721 ) 441 17 243 (20 ) Prepaid and other assets — 361 43 222 — 626 Due to brokers — — (508 ) (4,991 ) — (5,499 ) Accrued and other liabilities — (666 ) 2,246 (271 ) 269 1,578 Change in restricted cash and cash equivalents — 1,615 (1,608 ) — 7 Consolidated Entities: Due from brokers — — (36,645 ) 160,765 — 124,120 Purchase of investments — — (102,448 ) (8,715,405 ) — (8,817,853 ) Sales of investments — — 57,563 7,331,128 13,761 7,402,452 Receivables — — (281 ) (24,613 ) 1 (24,893 ) Due to brokers — — 15,583 (220,939 ) (13,761 ) (219,117 ) Accrued and other liabilities — — — 1,653 (508 ) 1,145 Interest payable — — 163 13,647 (3 ) 13,807 Net cash provided by (used in) operating activities — (28,513 ) 4,593 (1,234,813 ) (9,543 ) (1,268,276 ) CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from the sale of management contracts — — 229 — 229 Purchases of investments — — (136,136 ) 15,735 91,257 (29,144 ) Sales of investments — — 172,819 1,001 (153,336 ) 20,484 Intercompany investments in subsidiaries — (440,277 ) — — 440,277 — Intercompany distributions from subsidiaries — 478,341 — — (478,341 ) — Purchases of equipment and improvements — — (2,204 ) — — (2,204 ) Consolidated Entities: Change in restricted cash and cash equivalents — — (6,873 ) (206,021 ) — (212,894 ) Net cash provided by (used in) investing activities — 38,064 27,835 (189,285 ) (100,143 ) (223,529 ) CASH FLOWS FROM FINANCING ACTIVITIES: Distributions paid — (9,218 ) — — — (9,218 ) Intercompany contributions — — 440,277 — (440,277 ) — Intercompany distributions — — (478,341 ) — 478,341 — Proceeds from extension of warrants — 200 — — 200 Proceeds from the exercise of options — 580 — — — 580 Deferred purchase payments and payments on contingent liabilities — — (8,724 ) — — (8,724 ) Excess tax benefits from share-based payment arrangements — 171 — — — 171 Consolidated Entities: Contributions from noncontrolling interests — — — 93,587 (100 ) 93,487 Distributions to noncontrolling interests — — — (37,783 ) 10,685 (27,098 ) Proceeds from issuance of long-term debt — — 51,000 4,702,304 (112,323 ) 4,640,981 Payments made on long-term debt — — — (3,338,141 ) 173,360 (3,164,781 ) Net cash provided by (used in) financing activities — (8,267 ) 4,212 1,419,967 109,686 1,525,598 Net increase (decrease) in cash and cash equivalents — 1,284 36,640 (4,131 ) — 33,793 Cash and cash equivalents at beginning of period 872 20,494 4,131 — 25,497 Cash and cash equivalents at end of period $ — $ 2,156 $ 57,134 $ — $ — $ 59,290

ORGANIZATION AND BUSINESS (Deta

ORGANIZATION AND BUSINESS (Details)	Mar. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements
Sources of revenue	3	3

BASIS OF PRESENTATION AND PRI35

BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2016USD ($)item	Dec. 31, 2015USD ($)item	Jan. 01, 2015	Dec. 31, 2014USD ($)
Basis of Presentation and Principles of Consolidation
Investments	$ 77,347,000	$ 70,696,000
Investments in Funds
General Partners' Investment	$ 81,800,000	$ 81,800,000		$ 62,600,000
Consolidated VIEs [Abstract]
Number of CLOs consolidated	2	2	1	31
Number of Credit Funds Consolidated	2	2
Unconsolidated warehouses	3	3
Unconsolidated VIEs [Abstract]
Number of CLOs not consolidated	26	28		1
Number of CDOs not consolidated	8	8		8
Number of Credit Funds not consolidated	2	2		4
Maximum exposure to loss	$ 82,338,000	$ 82,357,000
Unconsolidated VIE, investment in	$ 39,500,000	$ 29,000,000
Warehouses
Consolidated VIEs [Abstract]
Consolidated Warehouse Investments Held	0	0	1	1
Accounts Receivable
Unconsolidated VIEs [Abstract]
Maximum exposure to loss	$ 394,000	$ 605,000
Accounts Receivable | Variable Interest Entity, Not Primary Beneficiary
Unconsolidated VIEs [Abstract]
Maximum exposure to loss	$ 4,500,000	$ 4,100,000		$ 300,000
Minimum [Member]
Consolidated VIEs [Abstract]
Equity leverage | item	3	3
Maximum [Member]
Consolidated VIEs [Abstract]
Equity leverage | item	5	5
Consolidated VIEs | Tactical Income Fund
Investments in Funds
General Partners' Investment	$ 33,600,000	$ 33,200,000		11,000,000
Consolidated VIEs [Abstract]
Noncontrolling Interest in Variable Interest Entity	7,800,000	7,800,000		6,500,000
Unconsolidated VOE [Member] | Co-Investment Fund
Investments in Funds
General Partners' Investment	11,800,000	12,100,000		16,600,000
Unconsolidated VOE [Member] | Warehouse Fund
Investments in Funds
General Partners' Investment	14,700,000	13,900,000		10,600,000
Unconsolidated VIE [Member] | Senior Secured Loan Fund
Investments in Funds
General Partners' Investment	$ 5,500,000	$ 5,400,000		5,200,000
Consolidated VIEs [Abstract]
Noncontrolling Interest in Variable Interest Entity				$ 204,500,000

CONSOLIDATED VIEs (Details)

CONSOLIDATED VIEs (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Consolidated Variable Interest Entities
Maximum exposure to loss		$ 82,338	$ 82,357
Accounts Receivable [Member]
Consolidated Variable Interest Entities
Maximum exposure to loss		394	605
Investment and beneficial interests in CLOs
Consolidated Variable Interest Entities
Maximum exposure to loss	[1]	$ 81,944	81,752
CIFC LLC
Consolidated Variable Interest Entities
Maximum exposure to loss			82,357	$ 50,851
CIFC LLC | Accounts Receivable [Member]
Consolidated Variable Interest Entities
Maximum exposure to loss			605	4,200
CIFC LLC | Investment and beneficial interests in CLOs
Consolidated Variable Interest Entities
Maximum exposure to loss	[1]		81,752	46,651
CIFC Corp
Consolidated Variable Interest Entities
Maximum exposure to loss			0	50,851
CIFC Corp | Accounts Receivable [Member]
Consolidated Variable Interest Entities
Maximum exposure to loss			0	4,200
CIFC Corp | Investment and beneficial interests in CLOs
Consolidated Variable Interest Entities
Maximum exposure to loss	[1]		$ 0	$ 46,651
[1]	Investments made in our Consolidated VIEs are eliminated in consolidation.

FAIR VALUE (Details 1 - Hierarc

FAIR VALUE (Details 1 - Hierarchy Table) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Liability Rollforward
Contingent Liabilities		$ 8,142	$ 8,338
Fair Value, Option, Loans Held as Assets, Aggregate unpaid principal balance, Loans		1,400,000	1,385,000	$ 12,000,000
Recurring basis
Liability Rollforward
Investment in Funds		31,977	31,411
Other Investments		45,370	39,285
Investments in loans, corporate bonds and other products		77,347	70,696
Assets, Fair Value Disclosure		1,424,310	1,422,099
Contingent Liabilities		8,142	8,338
Financial and Nonfinancial Liabilities, Fair Value Disclosure		8,142	8,338
Recurring basis | Net Asset Value [Member]
Liability Rollforward
Investment in Funds		31,977	31,411
Recurring basis | Fair Value, Inputs, Level 2 [Member]
Liability Rollforward
Other Investments		1,558	1,768
Investments in loans, corporate bonds and other products		1,558	1,768
Assets, Fair Value Disclosure		1,054,844	1,070,147
Recurring basis | Level 3
Liability Rollforward
Other Investments		43,812	37,517
Investments in loans, corporate bonds and other products		43,812	37,517
Assets, Fair Value Disclosure		337,489	320,541
Contingent Liabilities		8,142	8,338
Financial and Nonfinancial Liabilities, Fair Value Disclosure		8,142	8,338
Consolidated Entities | Recurring basis
Liability Rollforward
Loans Receivable, Fair Value Disclosure	[1]	1,345,043	1,349,407
Other Investments		1,920	1,996
Investments in loans, corporate bonds and other products		1,346,963	1,351,403
Consolidated Entities | Recurring basis | Fair Value, Inputs, Level 1 [Member]
Liability Rollforward
Other Investments			0
Consolidated Entities | Recurring basis | Fair Value, Inputs, Level 2 [Member]
Liability Rollforward
Loans Receivable, Fair Value Disclosure	[1]	1,052,484	1,067,539
Other Investments		802	840
Investments in loans, corporate bonds and other products		1,053,286	1,068,379
Consolidated Entities | Recurring basis | Level 3
Liability Rollforward
Loans Receivable, Fair Value Disclosure	[1]	292,559	281,868
Other Investments		1,118	1,156
Investments in loans, corporate bonds and other products		$ 293,677	$ 283,024
[1]	As of both March 31, 2016 and December 31, 2015, the total aggregate unpaid principal balance of loans was $1.4 billion .See Note 9 for total contractual principal amounts.

FAIR VALUE (Details 2 - Assets

FAIR VALUE (Details 2 - Assets Rollforward) - Level 3 - Recurring basis - USD ($) $ in Thousands		3 Months Ended				12 Months Ended
		Mar. 31, 2016		Mar. 31, 2015		Dec. 31, 2015	Dec. 31, 2014		Dec. 31, 2013
Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value				$ 967			$ 967
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3				0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[1]			0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]			0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales				0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[1]			0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)				0
Loans | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		$ 292,559		44,983		$ 281,868	2,517,887
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]	95,421		2,327
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]	(84,551)		(8,477)	[1]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[1]	(933)		497
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]	24,480		26,643
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[1]	(9,899)		(11,336)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[1]	(13,827)		(5,933)
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)		(1,967)		82
Structured Products and Other Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		43,812		32,863		37,517	7,604
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]	0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[1]	(1,307)		(197)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]	15,721		7,138
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales		(8,000)	[1]	(5,296)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[1]	(119)		0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)		(213)		3
Structured Products and Other Investments [Member] | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		1,118		4,677		1,156	69,973
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]	0		0	[1]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[1]	(38)		(101)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]	0		2,188
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[1]	0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[1]	0		0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)		(38)		(101)
Corporate Bonds | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value				0			478
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[1]			0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]			0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[1]			0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[1]			0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)				0
Investment and Derivative Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		43,812		33,830		37,517	8,571
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]	0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[1]	(1,307)		(197)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]	15,721		7,138
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales		(8,000)	[1]	(5,296)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[1]	(119)		0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)		(213)		3
Investment and Derivative Assets | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		293,677		49,660		283,024	2,588,338
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]	95,421		2,327
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]	(84,551)		(8,477)	[1]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[1]	(971)		396
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]	24,480		28,831
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[1]	(9,899)		(11,336)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[1]	(13,827)		(5,933)
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)		$ (2,005)		(19)
CIFC LLC | Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						0	967		$ 510
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					33	(53)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					990	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					1,990
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					0	0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						0	(23)
CIFC LLC | Loans | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						281,868	2,517,887		1,706,290
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					51,012	355,793
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]					69,435	296,059	[4]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(16,747)	(55,695)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					246,256	1,884,265
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					95,305	412,444
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					19,031	697,284
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						(4,875)	(46,579)
CIFC LLC | Structured Products and Other Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						37,517	7,604		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(6,828)	(311)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					63,060	7,915
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					28,715
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					6,059	0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						(5,689)	(311)
CIFC LLC | Structured Products and Other Investments [Member] | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						1,156	69,973		93,516
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]					1,803	0	[4]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(143)	9,136
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					1,129	1,910
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					3,230	19,022
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					0	20,888
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						(163)	679
CIFC LLC | Corporate Bonds | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						0	478		16,220
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					0	350
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]						0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					0	16,092
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]						0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						0	(28)
CIFC LLC | Investment and Derivative Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						37,517	8,571
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(6,795)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					64,050
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					30,705
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					6,059
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						(5,689)
CIFC LLC | Investment and Derivative Assets | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						283,024	2,588,338		1,816,026
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					51,012	355,793
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]					71,238	296,059	[4]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(16,890)	(46,209)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					247,385	1,886,175
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					98,535	447,558
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					19,031	718,172
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						(5,038)	(45,928)
CIFC Corp | Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						0	967		510
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					33	(53)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					990	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					1,990
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					0	0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						0	(23)
CIFC Corp | Loans | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						0	2,517,887		1,706,290
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					51,012	355,793
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]					69,435	296,059	[4]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(16,747)	(55,695)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					246,256	1,884,265
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					95,305	412,444
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					19,031	697,284
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						0	(46,579)
CIFC Corp | Structured Products and Other Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						739	7,604		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3						0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(6,828)	(311)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					63,060	7,915
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					28,715
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					6,059	0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						(78)	(311)
CIFC Corp | Structured Products and Other Investments [Member] | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						0	69,973		93,516
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]					1,803	0	[4]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(143)	9,136
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					1,129	1,910
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					3,230	19,022
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					0	20,888
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						0	679
CIFC Corp | Corporate Bonds | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						0	478		16,220
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					0	350
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]						0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					0	16,092
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]						0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						0	(28)
CIFC Corp | Investment and Derivative Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						739	8,571
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3						0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(6,795)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					64,050
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					30,705
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					6,059
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						(78)
CIFC Corp | Investment and Derivative Assets | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						0	2,588,338		$ 1,816,026
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					51,012	355,793
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]					71,238	296,059	[4]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(16,890)	(46,209)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					247,385	1,886,175
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					98,535	447,558
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					19,031	718,172
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						$ 0	$ (45,928)
New Accounting Pronouncement, Early Adoption, Effect [Member] | Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net				0
New Accounting Pronouncement, Early Adoption, Effect [Member] | Loans | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net				(2,476,625)
New Accounting Pronouncement, Early Adoption, Effect [Member] | Structured Products and Other Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net				23,614
New Accounting Pronouncement, Early Adoption, Effect [Member] | Structured Products and Other Investments [Member] | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net				(67,383)
New Accounting Pronouncement, Early Adoption, Effect [Member] | Corporate Bonds | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net				(478)
New Accounting Pronouncement, Early Adoption, Effect [Member] | Investment and Derivative Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net				23,614
New Accounting Pronouncement, Early Adoption, Effect [Member] | Investment and Derivative Assets | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net				$ (2,544,486)
[1]	The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out, net realized/unrealized gains (losses), purchases, sales and settlements for the three months ended March 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015.
[2]	Transfers in represent loans currently valued by a third-party pricing service using composite prices determined using less than two quotes, an internally developed pricing model or broker quotes and that were previously marked by a third-party pricing service using composite prices determined from two or more quotes.
[3]	Transfers out represent loans previously valued by an internally developed pricing model, broker quotes, or a third-party pricing service using composite prices determined using less than two quotes and are now being marked by a third-party pricing service using composite prices determined from two or more quotes.
[4]	The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out for the year ended December 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Net realized/unrealized gains (losses), purchases, sales and settlements for the twelve months ended December 31, 2015, also reflect the deconsolidation.

FAIR VALUE (Details 3 - Liabili

FAIR VALUE (Details 3 - Liabilities Rollforward) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Liability Rollforward
Estimated fair value, beginning of period		$ 8,338	$ 12,061,702	$ 12,061,702
Net realized/unrealized (gains) losses		364	713
Settlements	[1]	(560)	(1,558)
Estimated fair value, end of period		8,142	11,823	8,338	$ 12,061,702
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period		364	713
Contingent Liabilities at Fair Value
Liability Rollforward
Estimated fair value, beginning of period		8,338	12,668	12,668
Net realized/unrealized (gains) losses		364	713
Settlements	[1]	(560)	(1,558)
Estimated fair value, end of period		8,142	11,823	8,338	12,668
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period		364	713
Long-term Debt | Consolidated Entities
Liability Rollforward
Estimated fair value, beginning of period			12,049,034	12,049,034
Net realized/unrealized (gains) losses			0
Settlements	[1]		0
Estimated fair value, end of period			0		12,049,034
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period			0
CIFC LLC
Liability Rollforward
Estimated fair value, beginning of period		8,338	12,061,702	12,061,702	10,501,936
Transfer in due to consolidation				0	101,694
Net realized/unrealized (gains) losses	[2]			2,210	11,927
Settlements	[2],[3]			(6,540)	(3,172,007)
Estimated fair value, end of period				8,338	12,061,702
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period				2,210	232,943
CIFC LLC | Contingent Liabilities at Fair Value
Liability Rollforward
Estimated fair value, beginning of period		8,338	12,668	12,668	16,961
Net realized/unrealized (gains) losses	[2]			2,210	2,932
Settlements	[2],[3]			(6,540)	(7,225)
Estimated fair value, end of period				8,338	12,668
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period				2,210	2,932
CIFC LLC | Long-term Debt | Consolidated Entities
Liability Rollforward
Estimated fair value, beginning of period		0	12,049,034	12,049,034	10,484,975
Transfer in due to consolidation				0	101,694
Net realized/unrealized (gains) losses	[2]			0	8,995
Settlements	[2],[3]			0	(3,164,782)
Estimated fair value, end of period				0	12,049,034
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period				0	230,011
CIFC Corp
Liability Rollforward
Estimated fair value, beginning of period		8,338	12,061,702	12,061,702	10,501,936
Transfer in due to consolidation				0	101,694
Net realized/unrealized (gains) losses	[2]			2,210	11,927
Settlements	[2],[3]			(6,540)	(3,172,007)
Estimated fair value, end of period				8,338	12,061,702
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period				2,210	232,943
CIFC Corp | Contingent Liabilities at Fair Value
Liability Rollforward
Estimated fair value, beginning of period		8,338	12,668	12,668	16,961
Net realized/unrealized (gains) losses	[2]			2,210	2,932
Settlements	[2],[3]			(6,540)	(7,225)
Estimated fair value, end of period				8,338	12,668
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period				2,210	2,932
CIFC Corp | Long-term Debt | Consolidated Entities
Liability Rollforward
Estimated fair value, beginning of period		0	12,049,034	12,049,034	10,484,975
Transfer in due to consolidation				0	101,694
Net realized/unrealized (gains) losses	[2]			0	8,995
Settlements	[2],[3]			0	(3,164,782)
Estimated fair value, end of period				0	12,049,034
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period				$ 0	$ 230,011
New Accounting Pronouncement, Early Adoption, Effect [Member]
Liability Rollforward
Transfer in due to consolidation	[4]	0	(12,049,034)
New Accounting Pronouncement, Early Adoption, Effect [Member] | Contingent Liabilities at Fair Value
Liability Rollforward
Transfer in due to consolidation		$ 0	0
New Accounting Pronouncement, Early Adoption, Effect [Member] | Long-term Debt | Consolidated Entities
Liability Rollforward
Transfer in due to consolidation	[4]		$ (12,049,034)
[1]	For Contingent Liabilities, amount represents payments made and due related to the contingent liabilities from the merger with Legacy CIFC (Note 8)
[2]	The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out for the year ended December 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Net realized/unrealized gains (losses), purchases, sales and settlements for the twelve months ended December 31, 2015, also reflect the deconsolidation.
[3]	For Contingent Liabilities, amount represents payments made and due related to the contingent liabilities from the merger with Legacy CIFC (Note 10).
[4]	Pursuant to the adoption of ASU 2014-13, the Long-term Debt of Consolidated Entities have been remeasured in accordance with the new guidance.

FAIR VALUE (Details 4 - Narrati

FAIR VALUE (Details 4 - Narrative)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Narrative FN 5
Fair Value, Description of Composite quotes	2	2
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Redemption Restriction, Description	30	30
Debt Instrument, Description of Variable Rate Basis	LIBOR	LIBOR
Maximum [Member]
Narrative FN 5
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	5 years	5 years
Minimum [Member]
Narrative FN 5
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	2 years	2 years

FAIR VALUE (Details 5 - Quantit

FAIR VALUE (Details 5 - Quantitative Information) - USD ($)		3 Months Ended	12 Months Ended
		Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities		$ 8,142,000	$ 8,338,000
Debt Instrument, Description of Variable Rate Basis		LIBOR	LIBOR
Recurring basis
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities		$ 8,142,000	$ 8,338,000
Recurring basis | Level 3
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities		$ 8,142,000	$ 8,338,000
Projected Cash Flow Approach Valuation Technique [Member] | Recurring basis | Contingent Liabilities at Fair Value | Level 3
Quantitative Information about Level 3 Assets & Liabilities
Default rate (as a percent)	[1]	2.00%	2.00%	2.00%
Recovery rate (as a percent)	[1]	70.00%	70.00%	70.00%
Fair Value Inputs, Reinvestment Price		$ 100	$ 100
Projected Cash Flow Approach Valuation Technique [Member] | Recurring basis | Contingent Liabilities at Fair Value | Level 3 | Minimum
Quantitative Information about Level 3 Assets & Liabilities
Discount rate (as a percent)	[2]	8.10%	6.70%	1.20%
Pre-payment rate (as a percent)	[1]		35.00%	35.00%
Reinvestment spread over LIBOR (as a percent)		3.30%	3.00%	3.00%
Projected Cash Flow Approach Valuation Technique [Member] | Recurring basis | Contingent Liabilities at Fair Value | Level 3 | Maximum [Member]
Quantitative Information about Level 3 Assets & Liabilities
Discount rate (as a percent)	[2]	13.00%	12.00%	12.50%
Reinvestment spread over LIBOR (as a percent)		4.00%	3.80%	3.80%
Projected Cash Flow Approach Valuation Technique [Member] | Recurring basis | Contingent liabilities and the long-term debt of the Consolidated CLOs | Level 3
Quantitative Information about Level 3 Assets & Liabilities
Pre-payment rate (as a percent)	[1]	25.00%	40.00%	40.00%
CIFC LLC
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities			$ 8,338,000	$ 12,668,000
CIFC LLC | Recurring basis
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities			8,338,000	12,668,000
CIFC LLC | Recurring basis | Level 3
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities			8,338,000	12,668,000
CIFC Corp
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities			8,338,000	12,668,000
CIFC Corp | Recurring basis
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities			8,338,000
CIFC Corp | Recurring basis | Level 3
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities			$ 8,338,000	$ 12,668,000
[1]	Generally an increase in the default rate would be accompanied by a directionally opposite change in assumption for the recovery and pre-payment rates.
[2]	The discount rate varies by type of management fee (senior management fee, subordinated management fee, or incentive fee), the priority of that management fee in the waterfall of the CLO and the relative risk associated with the respective management fee cash flow projections. Amounts are presented as a spread over LIBOR.

FAIR VALUE (Details 6 - Fair Va

FAIR VALUE (Details 6 - Fair Value Option) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2016		Dec. 31, 2015		Dec. 31, 2014	[2],[3]
Long-term debt:
Long-term debt		$ 156,237		$ 156,161
Debt Instrument, Description of Variable Rate Basis		LIBOR		LIBOR
Subordinated Debt Obligations | Carrying Value
Long-term debt:
Junior Subordinated Notes		$ 118,282	[1]	$ 118,259	[1],[2],[3]	$ 118,170
Subordinated Debt Obligations | Estimated Fair Value
Long-term debt:
Junior Subordinated Notes		52,549	[1]	57,371	[1],[2],[3]	$ 57,314
Senior Notes [Member]
Long-term debt:
Long-term debt	[4]	37,955		37,902	[2],[5],[6]
Long-term Debt, Gross	[6]	40,000		40,000	[7]
Senior Notes [Member] | Estimated Fair Value
Long-term debt:
Senior Notes	[4]	$ 40,000		$ 40,000	[2],[5]
[1]	The Junior Subordinated Notes include both the March and October Junior Subordinated Notes (Note 9). The estimated fair values of the Junior Subordinated Notes were determined using a discounted cash flow model which utilizes significant unobservable inputs, including discount rates, yield and forward LIBOR curve assumptions. This methodology is classified as Level 3 within the fair value hierarchy.
[2]	Pursuant to the adoption of ASU 2015-03 the carrying value has been adjusted to reflect the presentation of debt issuance costs as a direct deduction from the related liability for all periods presented in accordance with amended guidance on simplifying the presentation of such costs.
[3]	The Junior Subordinated Notes include both the March and October Junior Subordinated Notes (Note 11). The estimated fair values of the Junior Subordinated Notes were determined using a discounted cash flow model which utilizes significant unobservable inputs, including discount rates, yield and forward LIBOR curve assumptions. This methodology is classified as Level 3 within the fair value hierarchy.
[4]	On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which are publicly registered and fair valued using the issuance price.
[5]	On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which is carried at its outstanding principal balance net of debt issuance costs (Note 11). The estimated fair value of the Senior Notes approximates issuance price from November 2, 2015.
[6]	The Senior Notes bear interest at 8.5% and mature on October 30, 2025. As of January 1, 2016, the Company temporarily did not meet certain registration requirements under the indenture (and associated agreements) and incurred additional interest of 25 basis points per annum for the period ended March 31, 2016. Each 90 days thereafter interest will increase by 25 basis points (capped at 1% per annum) until cured. The Company has cured these conditions and expects the additional interest to end in July 2016.
[7]	The Senior Notes bear interest at 8.5% and mature on October 30, 2025

DERIVATIVE INSTRUMENTS AND HE43

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR		LIBOR
Net income/expense related to derivative instruments	$ (0.3)		$ 3.6	$ 2
Total Return Swap
Derivative [Line Items]
Net income/expense related to derivative instruments		$ 0.4

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2016		Mar. 31, 2015	Dec. 31, 2015		Dec. 31, 2014
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 46,749	[1]		$ 77,708	[1],[2]	$ 79,536	[2]
Accumulated Amortization	41,356	[3]		70,851	[3],[4]	64,462	[4]
Intangible assets, net	5,393			6,857		15,074
Amortization of intangible assets	900		$ 2,100	6,400		$ 10,100
Expected amortization expense of the existing intangible assets
Less than one year	1,651			2,860
In two years	1,726			1,929
In three years	1,449			1,501
In four years	411			411
In five years	125			125
Thereafter	31			31
Expected amortization expense	5,393			6,857
Impairment of intangible assets	$ 531		$ 281	$ 1,800
Investment management contracts
Intangible assets
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	2 years 1 month			2 years 5 months		3 years 2 months
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 40,405	[1]		$ 71,113	[1],[2]	$ 72,941	[2]
Accumulated Amortization	37,527	[3]		67,040	[3],[4]	61,723	[4]
Intangible assets, net	$ 2,878			$ 4,073		$ 11,218
Referral Agreement
Intangible assets
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years 6 months			3 years 9 months		4 years 9 months
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 3,810	[1]		$ 3,810	[1],[2]	$ 3,810	[2]
Accumulated Amortization	2,286	[3]		2,096	[3],[4]	1,334	[4]
Intangible assets, net	$ 1,524			$ 1,714		$ 2,476
Non-compete agreements
Intangible assets
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	2 years			2 years 2 months		3 years 2 months
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 1,284	[1]		$ 1,535	[1],[2]	$ 1,535	[2]
Accumulated Amortization	917	[3]		1,122	[3],[4]	936	[4]
Intangible assets, net	$ 367			$ 413		$ 599
Trade name
Intangible assets
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years			5 years 2 months		6 years 4 months
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 1,250	[1]		$ 1,250	[1],[2]	$ 1,250	[2]
Accumulated Amortization	626	[3]		593	[3],[4]	469	[4]
Intangible assets, net	$ 624			$ 657		$ 781
[1]	Gross carrying amounts as of March 31, 2016 have been reduced to reflect fully impaired and amortized assets
[2]	Gross carrying amounts have been adjusted for impaired assets as of the date presented.
[3]	During the three months ended March 31, 2016 and 2015, the Company recorded amortization expense on its intangible assets of $0.9 million and $2.1 million, respectively.
[4]	During the years ended December 31, 2015 and 2014, the Company recorded amortization expense on its intangible assets of $6.4 million and $10.1 million, respectively.

CONTINGENT LIABILITIES (Details

CONTINGENT LIABILITIES (Details) - USD ($)	Jul. 31, 2013	Apr. 13, 2011	Apr. 30, 2011	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014
Contingent liabilities at fair value
Payments on contingent liabilities				$ 999,000	$ 1,559,000
CIFC Parent Holdings LLC [Member]
Contingent liabilities at fair value
Number of Legacy CIFC CLOs subject to fee-sharing arrangements		six
Business Acquisition Cost of Acquired Entity Initial Incentive Fees		$ 15,000,000
Business Acquisition, Cost of Acquired Entity Percentage of Fees in Excess of Initial Incentive Fees		50.00%	50.00%
Business Acquisition Cost of Acquired Entity Final Contingent Consideration Payment Date		10 years	10 years
Payments On Contingent Liabilities - 100% fee sharing				999,000	1,000,000		$ 2,500,000	$ 6,600,000
Business Acquisition Cost of Acquired Entity Cash Payable				0			0
Payments on Contingent Liabilities - 50% fee sharing				16,600,000			15,600,000
Cypress Tree Investment Management LLC
Contingent liabilities at fair value
Business Acquisition Cost of Acquired Entity Cash Payable				0			0
Business Acquisition Contingent Consideration Minimum Percentage of Investment Advisory Fees	39.00%					39.00%
Payments on contingent liabilities				$ 0	$ 559,000		$ 1,100,000	$ 600,000

LONG-TERM DEBT (Details 2 - Nar

LONG-TERM DEBT (Details 2 - Narrative)	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jan. 01, 2015
Debt Instrument [Line Items]
Number of CLOs consolidated	2		2	31	1
Number of Credit Funds Consolidated	2		2
Consolidated CLOs and Other [Member]
Debt Instrument [Line Items]
Proceeds from Issuance of Debt	$ 0	$ 0	$ 484,200,000	$ 3,300,000,000
Repayments of Long-term Debt	0	16,100,000	152,500,000	1,600,000,000
Variable Interest Entity, Consolidated, Carrying Amount, Assets	1,200,000,000		1,200,000,000	12,557,293,000
Subordinated notes of Consolidated CLOs | Consolidated CLOs and Other [Member]
Debt Instrument [Line Items]
Repayments of Long-term Debt	4,900,000	700,000	18,300,000	230,000,000
Revolving credit facility | Consolidated CLOs and Other [Member]
Debt Instrument [Line Items]
Proceeds from Issuance of Debt	$ 0	$ 33,100,000	$ 153,600,000	$ 19,600,000

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Debt Instrument [Line Items]
Long-term debt		$ 156,237		$ 156,161
Debt Instrument, Description of Variable Rate Basis		LIBOR		LIBOR
Other VIEs [Member]
Debt Instrument [Line Items]
Long-term debt		$ 151,700		$ 153,100
Consolidated CLOs and Other [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		1,360,725	[1]	1,385,226	[1],[2]	$ 12,760,565	[2]
Long-term debt		$ 1,312,058	[1]	$ 1,308,558	[1],[2]	$ 11,998,034	[2]
Long-term Debt, Weighted Average Interest Rate		0.03%	[1]	0.02%	[1],[2]	1.77%	[2]
Debt instruments - Weighted Average, Remaining Maturity		9 years	[1]	9 years 1 month	[1],[2]	8 years 8 months	[2]
Warehouses
Debt Instrument [Line Items]
Long-term Debt, Gross	[3]			$ 0		$ 51,000
Long-term debt	[3]			$ 0		$ 51,000
Long-term Debt, Weighted Average Interest Rate	[3]			0.00%		1.89%
Consolidated Entities
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,360,725		$ 1,385,226
Long-term debt		$ 1,312,058		$ 1,308,558
Long-term Debt, Weighted Average Interest Rate		0.03%		0.02%
Debt instruments - Weighted Average, Remaining Maturity		9 years		9 years 1 month
March Junior Subordinated Debt [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	[4]	$ 95,000	[5]	$ 95,000		$ 95,000
Long-term debt	[4],[5]	$ 93,476		$ 93,456		$ 93,377
Long-term Debt, Weighted Average Interest Rate	[4]	3.20%	[5]	2.90%		1.00%
Debt instruments - Weighted Average, Remaining Maturity	[4]	19 years 7 months	[5]	19 years 10 months		20 years 10 months
March Junior Subordinated Debt [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis		LIBOR
Debt Instrument, Basis Spread on Variable Rate		2.58%
March Junior Subordinated Debt [Member] | Interest Rate Applicable Period Through 30 April 2015 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period		1.00%
October Junior Subordinated Debt [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	[6]	$ 25,000		$ 25,000		$ 25,000
Long-term debt	[6]	$ 24,806		$ 24,803	[5]	$ 24,793	[5]
Long-term Debt, Weighted Average Interest Rate	[6]	4.12%		3.82%		3.73%
Debt instruments - Weighted Average, Remaining Maturity	[6]	19 years 7 months		19 years 10 months		20 years 10 months
October Junior Subordinated Debt [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis		LIBOR		LIBOR
Debt Instrument, Basis Spread on Variable Rate		3.50%		3.50%
Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	[7]	$ 40,000		$ 40,000	[8]
Long-term debt	[9]	$ 37,955		$ 37,902	[7],[10],[11]
Long-term Debt, Weighted Average Interest Rate	[7]	8.50%		8.50%	[8]
Debt instruments - Weighted Average, Remaining Maturity	[7]	9 years 7 months		9 years 10 months	[8]
Debt Instrument, Interest Rate During Period		8.50%		8.50%
Senior Notes [Member] | Senior Notes penalty rate per quarter
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period		0.25%
Senior Notes [Member] | Senior Notes penalty annual capped rate Member] [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period		1.00%
Subordinated and Senior [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 160,000		$ 160,000		$ 120,000
Long-term debt		$ 156,237		$ 156,161	[5]	$ 118,170	[5]
Long-term Debt, Weighted Average Interest Rate		4.67%		4.44%		1.57%
Debt instruments - Weighted Average, Remaining Maturity		17 years 1 month		17 years 3 months		20 years 10 months
[1]	The subordinated notes of the Consolidated CLOs do not have a stated interest rate and have been excluded from the calculation of the weighted average borrowing rate. As of March 31, 2016 and December 31, 2015, long-term debt of the Consolidated CLOs and Other includes $151.7 million and $153.1 million of credit fund debt, respectively.
[2]	Pursuant to the adoption of ASU 2014-13, Long-term debt of the Consolidated CLOs has been remeasured in accordance with the new guidance (Notes 3 and 5). The subordinated notes of the Consolidated CLOs do not have a stated interest rate and have been excluded from the calculation of the weighted average borrowing rate. As of December 31, 2015, long-term debt of the Consolidated CLOs includes $153.1 million of credit funds.
[3]	Long-term debt of warehouses not held by the Company is recorded at fair value. The fair value excludes the preferred shares of warehouses not held by the Company. As warehouses are generally terminated before the end of their terms, they are excluded from the calculation of the weighted average remaining maturity.
[4]	March Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 2.58% until maturity on October 30, 2035. Prior to April 30, 2015, these notes bore interest at an annual rate of 1%.
[5]	Pursuant to the adoption of ASU 2015-03, the carrying values of recourse debt has been presented net of debt issuance costs
[6]	October Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 3.50% and mature on October 30, 2035.
[7]	The Senior Notes bear interest at 8.5% and mature on October 30, 2025. As of January 1, 2016, the Company temporarily did not meet certain registration requirements under the indenture (and associated agreements) and incurred additional interest of 25 basis points per annum for the period ended March 31, 2016. Each 90 days thereafter interest will increase by 25 basis points (capped at 1% per annum) until cured. The Company has cured these conditions and expects the additional interest to end in July 2016.
[8]	The Senior Notes bear interest at 8.5% and mature on October 30, 2025
[9]	On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which are publicly registered and fair valued using the issuance price.
[10]	On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which is carried at its outstanding principal balance net of debt issuance costs (Note 11). The estimated fair value of the Senior Notes approximates issuance price from November 2, 2015.
[11]	Pursuant to the adoption of ASU 2015-03 the carrying value has been adjusted to reflect the presentation of debt issuance costs as a direct deduction from the related liability for all periods presented in accordance with amended guidance on simplifying the presentation of such costs.

EQUITY (Details 1 - Narrative)

EQUITY (Details 1 - Narrative) $ / shares in Units, $ in Thousands	May. 09, 2016$ / shares	Mar. 21, 2016$ / shares	Mar. 31, 2016USD ($)$ / sharesshares	Mar. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)shares	Mar. 29, 2012USD ($)
Common Stock [Abstract]
Common shares issued | shares			25,574,061		25,314,756
Dividends declared, usd per share | $ / shares			$ 0.34	$ 0.10
Treasury Stock [Abstract]
Repurchases of common shares			$ 435
Share-based Compensation [Abstract]
Share-based compensation			2,381	$ 1,680
Subsequent Event
Common Stock [Abstract]
Dividends declared, usd per share | $ / shares	$ 0.25	$ 0.34
Quarterly | Subsequent Event
Common Stock [Abstract]
Dividends declared, usd per share | $ / shares	0.10	0.10
Special | Subsequent Event
Common Stock [Abstract]
Dividends declared, usd per share | $ / shares	$ 0.15	$ 0.24
Treasury Stock
Treasury Stock [Abstract]
Remaining authorized repurchase amount			$ 3,800		$ 4,200		$ 10,000
Treasury Stock
Treasury Stock [Abstract]
Repurchases of common stock, shares | shares			75,296	0	168,008	0
Repurchases of common shares			$ 435		$ 1,151
Treasury stock acquired, average cost per share | $ / shares			$ 5.75		$ 6.85
Stock Options and Restricted Stock Units
Share-based Compensation [Abstract]
Share-based compensation					$ 5,348	$ 2,600
Compensation not yet recognized, stock options and RSUs			$ 14,800		$ 10,000
Stock Options
Share-based Compensation [Abstract]
Weighted average vesting period			3 months 12 days		4 months 22 days
Restricted Stock Units (RSUs)
Share-based Compensation [Abstract]
Weighted average vesting period			2 years 9 months 15 days		2 years 8 months 15 days
Dissenting Shareholders [Member]
Common Stock [Abstract]
Number of Dissenting shareholders			2
Common shares issued | shares			2,026,315

EQUITY (Details 2 - Stock Optio

EQUITY (Details 2 - Stock Options) - Stock Options - USD ($)		3 Months Ended			12 Months Ended
		Mar. 31, 2016		Mar. 31, 2015	Dec. 31, 2015		Dec. 31, 2014
Number of Shares Underlying Share Options
Options outstanding		3,285,313		3,635,313	3,635,313
Exercised options Shares		(50,000)	[1]		(103,906)	[2]
Options outstanding		3,235,313			3,285,313		3,635,313
Exercisable (shares)		2,980,731			2,872,540
Vested and Expected to vest (shares)	[3]	3,219,855			3,263,392
Weighted Average Exercise Price
Outstanding at period start		$ 6.69		$ 6.68	$ 6.68
Exercised (usd per share)		4.83			5
Outstanding at period end		6.72			6.69		$ 6.68
Exercisable (usd per share)		6.56			6.50
Vested and Expected to vest (usd per share)		$ 6.71			$ 6.68
Additional Disclosures
Outstanding, Weighted Average Remaining Contractual Term		4 years 4 months 22 days			4 years 7 months 22 days		5 years 1 month 28 days
Exercisable, Weighted Average Remaining Contractual Term		4 years 1 month 16 days			4 years 2 months 17 days
Vested and Expected to Vest, Weighted Average Remaining Contractual Term		4 years 4 months 16 days			4 years 7 months 15 days
Outstanding, Aggregate Intrinsic Value		$ 788,000		$ 6,146,000	$ 6,146,000
Exercisable, Aggregate Intrinsic Value		2,658,000			744,000
Vested and Expected to vest, Aggregate Intrinsic Value		2,659,000			786,000
Outstanding, Aggregate Intrinsic Value		2,659,000			788,000		$ 6,146,000
Options, exercises in period, intrinsic value		$ 33,500		$ 78,500	$ 200,000		$ 300,000
[1]	During the three months ended March 31, 2016 and 2015, total intrinsic value of options exercised was $33.5 thousand and $78.5 thousand, respectively.
[2]	During the year ended December 31, 2015 and 2014, total intrinsic value of options exercised was $0.2 million and $0.3 million, respectively.
[3]	Includes a reduction to outstanding options at period end for expected forfeiture rate over the life of the options.

EQUITY (Details 3 - RSU Narrati

EQUITY (Details 3 - RSU Narrative) - shares	3 Months Ended		12 Months Ended
	Mar. 31, 2016		Dec. 31, 2015	Dec. 31, 2014
Restricted Stock Units (RSUs)
EQUITY
Grants in period (shares)	1,093,015	[1],[2]	1,138,787	1,318,152
Service Based 3 Year Vest [Member]
EQUITY
Grants in period (shares)			340,000	362,070
Service Based 3 Year Vest [Member] | Initial Vest [Member]
EQUITY
Award vesting period	3 years		3 years	3 years
Award vesting rights, percentage	33.00%		33.00%	33.00%
Service Based 3 Year Vest [Member] | Remaining Tranches [Member]
EQUITY
Award vesting period	2 years		2 years	2 years
[1]	Shareholder approval is required to increase the number of shares available under the Company’s 2011 Stock and Incentive Plan to accommodate these new grants.
[2]	Weighted average grant date fair value excludes 360,000 of performance based RSUs for which performance hurdles will be determined in the future.

EQUITY (Details 4 - RSU Rollfor

EQUITY (Details 4 - RSU Rollforward) - $ / shares		3 Months Ended		12 Months Ended
		Mar. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Restricted Stock Units (RSUs)
RSUs
Restricted stock units outstanding, beginning of period (shares)		2,033,510		1,248,444
Grants in period (shares)		1,093,015	[1],[2]	1,138,787		1,318,152
Vested (shares)		(240,611)		(286,592)
Forfeited (shares)	[3]	(5,988)		(67,129)
Restricted stock units outstanding, end of period (shares)		2,879,926		2,033,510		1,248,444
Weighted Average Grant Date Fair Value
Restricted stock units outstanding, beginning of period (usd per share)		$ 7.69		$ 8.01
Granted (usd per share)		5.78	[2]	7.21	[4]
Vested (usd per share)		8.09		8.07
Forfeited (usd per share)	[3]	8.35		7.76
Restricted stock units outstanding, end of period (usd per share)		$ 6.69		$ 7.69		$ 8.01
Performance Shares, hurdle not yet met
RSUs
Grants in period (shares)		360,000		540,000
[1]	Shareholder approval is required to increase the number of shares available under the Company’s 2011 Stock and Incentive Plan to accommodate these new grants.
[2]	Weighted average grant date fair value excludes 360,000 of performance based RSUs for which performance hurdles will be determined in the future.
[3]	The forfeited share-based awards are returned to the grant pool for reissuance under the 2011 Stock Plan.
[4]	Weighted average grant date fair value excludes 540,000 of performance based RSUs for which performance hurdles will be determined in the future.

EARNINGS (LOSS) PER SHARE (Deta

EARNINGS (LOSS) PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Net Income (Loss) Attributable to Parent		$ 4,505	$ 5,428
Weighted Average Number of Shares Outstanding, Basic		25,355,064	25,279,226
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	[1]	283,000	697,000
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	[2]	0	458,000
Incremental Common Shares Attributable to Dilutive Effect of Nonvested Shares with Forfeitable Dividends		171,000	138,000
Weighted-average shares - diluted		25,809,402	26,572,416
Earnings Per Share, Basic		$ 0.18	$ 0.21
Earnings (loss) per share, Diluted		$ 0.17	$ 0.20
Stock Options
Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		2,000,000	700,000	1,100,000	800,000
CIFC LLC
Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Net Income (Loss) Attributable to Parent				$ 334	$ 8,381
Weighted Average Number of Shares Outstanding, Basic				25,314,696	22,908,846
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	[3]			590,000	674,000
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	[4]			311,000	500,000
Incremental Common Shares Attributable to Dilutive Effect of Nonvested Shares with Forfeitable Dividends				198,000	85,000
Weighted-average shares - diluted				26,414,268	24,167,641
Earnings Per Share, Basic				$ 0.01	$ 0.37
Earnings (loss) per share, Diluted				$ 0.01	$ 0.35
CIFC Corp
Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Net Income (Loss) Attributable to Parent				$ 384	$ 8,381
Weighted Average Number of Shares Outstanding, Basic				25,314,696	22,908,846
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	[3]			590,000	674,000
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	[4]			311,000	500,000
Incremental Common Shares Attributable to Dilutive Effect of Nonvested Shares with Forfeitable Dividends				198,000	85,000
Weighted-average shares - diluted				26,414,268	24,167,641
Earnings Per Share, Basic				$ 0.02	$ 0.37
Earnings (loss) per share, Diluted				$ 0.01	$ 0.35
Dissenting Shareholders [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Weighted Average Number of Shares Outstanding, Basic		23,328,479
Weighted-average shares - diluted		23,783,000
Earnings Per Share, Basic		$ 0.19
Earnings (loss) per share, Diluted		$ 0.19
[1]	For the three months ended March 31, 2016 and 2015, the Company excluded anti-dilutive share options from the calculation of diluted EPS of $2.0 million and of $0.7 million, respectively.
[2]	For the three months ended March 31, 2016, the warrants were anti-dilutive for purposes of EPS. The warrants expire on January 24, 2017 (Note 13).
[3]	For the years ended December 31, 2015 and 2014, the Company excluded anti-dilutive stock options from the calculation of diluted EPS of 1.1 million and of 0.8 million, respectively.
[4]	On September 24, 2015, the term of the warrants was extended to January 24, 2017 (Note 12).

INCOME TAXES (Details 1 - Narra

INCOME TAXES (Details 1 - Narrative) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Income (loss) before income taxes		$ 5,785	$ 8,769
Income Tax Expense (Benefit)		$ (1,278)	$ (3,087)	$ 25,239	$ 22,158
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	[1]	22.10%	35.20%
Deferred income tax expense (benefit)		$ 1,315	$ (150)
CIFC LLC
Operating Loss Carryforwards [Line Items]
Income Tax Expense (Benefit)		$ 1,278	$ 3,087
[1]	During 2015, the Company adopted new accounting standards that impacted Income (loss) before income taxes for the three months ended March 31, 2015 (Note 2). The change has resulted in the change of the effective income tax rate. In addition, for the three months ended March 31, 2016 and 2015 deferred income tax expense (benefit) was $1.3 million and $(0.2) million, respectively.

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2016USD ($)itemshares	Mar. 31, 2015USD ($)	Dec. 31, 2013shares	Dec. 31, 2015USD ($)itemshares	Dec. 31, 2014USD ($)itemshares
Related Party Transaction [Line Items]
Professional Fees	$ 2,072	$ 1,926
Number of related Party investments in CIFC CLOs					1
Related Party investments	77,347			$ 70,696
CIFC FUNDING 2013-II - Board Member Investment
Related Party Transaction [Line Items]
Debt Instrument, face amount	1,000			1,000
DFR Holdings Board of Directors [Member]
Related Party Transaction [Line Items]
Base Compensation	$ 200	200		$ 700	$ 800
DFR Holdings LLC
Related Party Transaction [Line Items]
Number of shares owned (shares) | shares	18,800,000		10,090,909	18,800,000	18,800,000
Other Prepaid Expense, Current	$ 2,000	2,000
Professional Fees	$ 500	$ 500		$ 2,000	$ 2,000
Directors designated by DFR Holdings			6
DFR Holdings LLC
Related Party Transaction [Line Items]
Percentage of CIFC Common Shares Outstanding	74.00%			74.00%
Percentage of CIFC Common Shares Diluted	70.00%			70.00%
CIFC FUNDING 2013-II - Board Member Investment
Related Party Transaction [Line Items]
Debt Instrument, face amount					$ 1,000
Number of related Party investments in CIFC CLOs	1			1
Board Member ownership %	50.00%			50.00%	50.00%
CIFC Funds
Related Party Transaction [Line Items]
Related Party investments	$ 4,700			$ 4,700	$ 4,700
Aggregate related party investment in funds | item	4			4	4
Warrants | DFR Holdings LLC
Related Party Transaction [Line Items]
Class of warrant, outstanding | shares	2,000,000		2,000,000	2,000,000	2,000,000
Minimum [Member] | DFR Holdings LLC
Related Party Transaction [Line Items]
DRF holdings ownership percentage	5.00%			5.00%

COMMITMENTS AND CONTINGENCIES55

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Lease Commitments
Occupancy, Net	$ 0.4	$ 0.4	$ 1.7	$ 1.7
Consolidated Entities
Other Commitments and Contingencies
Unfunded investment commitments	$ 1.3		$ 1	$ 5.9

RULE S-X 3-10 BALANCE SHEET (De

RULE S-X 3-10 BALANCE SHEET (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
		Mar. 31, 2016	Dec. 31, 2015		Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash and cash equivalents		$ 52,011	$ 57,968		$ 41,461	$ 59,290
Restricted cash and cash equivalents		1,694	1,694
Investments		77,347	70,696
Investment in subsidiaries		0	0
Receivables		8,925	7,075
Prepaid and other assets		2,817	1,973
Deferred tax assets, net		43,110	44,425			55,475
Equipment and improvements, net		4,562	4,866			5,194
Intangible assets, net		5,393	6,857			15,074
Goodwill		76,000	76,000
Subtotal		271,859	271,554
Assets		1,728,079	1,747,203
Due to brokers		0	61
Distributions Payable		8,670	0
Accrued and other liabilities		12,451	18,397
Contingent Liabilities		8,142	8,338
Long-term debt		156,237	156,161
Subtotal		185,500	182,957
Liabilities		1,551,611	1,568,401
Common Stock, Value, Issued		25	25
Intercompany Preferred Units		0	0	[1]
Treasury Stock, Value		(435)	0
Additional paid-in capital		994,766	992,419
Retained earnings (deficit)		(825,656)	(821,491)
Stockholders' Equity Attributable to Parent		168,700	170,953
TOTAL EQUITY		176,468	178,802		198,558	521,902
TOTAL LIABILITIES AND EQUITY		1,728,079	1,747,203
Consolidated Funds
Noncontrolling interests in Consolidated Funds (Note 2)		7,768	7,849
Consolidated Entities
Restricted cash and cash equivalents		80,592	94,018
Due from brokers		24,293	25,910
Investments		1,346,963	1,351,403
Receivables		4,185	4,109
Prepaid and other assets		187	209
Assets	[2]	1,456,220	1,475,649
Due to brokers		49,350	71,603
Accrued and other liabilities		229	193
Interest payable		4,474	5,090
Long-term debt		1,312,058	1,308,558
Liabilities	[2]	1,366,111	1,385,444
Parent Company [Member]
Cash and cash equivalents		1,094	0		0	0
Restricted cash and cash equivalents		0	0			0
Investments		0	0			$ 0
Investment in subsidiaries		177,449	170,174
Receivables		154	785			$ 0
Prepaid and other assets		0	0			0
Deferred tax assets, net		0	0			0
Equipment and improvements, net		0	0			0
Intangible assets, net		0	0			0
Goodwill		0	0			0
Subtotal		178,697	170,959			0
Assets		178,697	170,959			0
Due to brokers			0
Distributions Payable		8,670
Accrued and other liabilities		1,322	50			0
Contingent Liabilities		0	0			0
Long-term debt		0	0			0
Subtotal		9,992	50			0
Liabilities		9,992	50			0
Common Stock, Value, Issued		25	25			0
Intercompany Preferred Units		0	0	[1]
Treasury Stock, Value		435	0			0
Additional paid-in capital		994,771	992,425			0
Retained earnings (deficit)		(825,656)	(821,541)			0
Stockholders' Equity Attributable to Parent		168,705	170,909			0
TOTAL EQUITY		168,705	170,909			0
TOTAL LIABILITIES AND EQUITY		178,697	170,959			0
Parent Company [Member] | Consolidated Funds
Noncontrolling interests in Consolidated Funds (Note 2)		0	0			0
Parent Company [Member] | Consolidated Entities
Restricted cash and cash equivalents		0	0			0
Due from brokers		0	0			0
Investments		0	0			0
Receivables		0	0			0
Prepaid and other assets		0	0			0
Assets	[2]	0	0			0
Due to brokers		0	0			0
Accrued and other liabilities		0	0			0
Interest payable		0	0			0
Long-term debt		0	0			0
Liabilities	[2]	0	0			0
Subsidiary Issuer [Member]
Cash and cash equivalents		382	1,392		954	2,156	$ 872
Restricted cash and cash equivalents		0	0			0
Investments		0	0			0
Investment in subsidiaries		104,281	120,896			156,053
Receivables		3,546	295			721
Prepaid and other assets		1,172	1,621			2,106
Deferred tax assets, net		43,110	44,425			55,475
Equipment and improvements, net		0	0			0
Intangible assets, net		5,393	6,232			13,275
Goodwill		66,549	66,549			66,550
Subtotal		224,433	241,410			296,336
Assets		224,433	241,410			296,336
Due to brokers			61
Distributions Payable		0
Accrued and other liabilities		4,172	24,185			1,846
Contingent Liabilities		0	0			0
Long-term debt		156,237	156,161			118,170
Subtotal		160,409	180,407			120,016
Liabilities		160,409	180,407			120,016
Common Stock, Value, Issued		1	25			25
Intercompany Preferred Units		0	0	[1]
Treasury Stock, Value		0	0			(914)
Additional paid-in capital		885,377	992,419			988,904
Retained earnings (deficit)		(821,354)	(931,441)			(811,695)
Stockholders' Equity Attributable to Parent		64,024	61,003			176,320
TOTAL EQUITY		64,024	61,003			176,320
TOTAL LIABILITIES AND EQUITY		224,433	241,410			296,336
Subsidiary Issuer [Member] | Consolidated Funds
Noncontrolling interests in Consolidated Funds (Note 2)		0	0			0
Subsidiary Issuer [Member] | Consolidated Entities
Restricted cash and cash equivalents		0	0			0
Due from brokers		0	0			0
Investments		0	0			0
Receivables		0	0			0
Prepaid and other assets		0	0			0
Assets	[2]	0	0			0
Due to brokers		0	0			0
Accrued and other liabilities		0	0			0
Interest payable		0	0			0
Long-term debt		0	0			0
Liabilities	[2]	0	0			0
Guarantor Subsidiaries [Member]
Cash and cash equivalents		50,535	56,576		40,507	57,134	20,494
Restricted cash and cash equivalents		1,694	1,694			1,694
Investments		159,177	152,455			80,115
Investment in subsidiaries		113,497	61,004			0
Receivables		7,909	27,242			5,759
Prepaid and other assets		1,645	352			179
Deferred tax assets, net		0	0			0
Equipment and improvements, net		4,562	4,866			5,194
Intangible assets, net		0	625			1,799
Goodwill		9,451	9,451			9,450
Subtotal		348,470	314,265			161,324
Assets		348,470	314,265			249,205
Due to brokers			0
Distributions Payable		0
Accrued and other liabilities		9,126	14,808			13,738
Contingent Liabilities		8,142	8,338			12,668
Long-term debt		0	0			0
Subtotal		17,268	23,146			26,406
Liabilities		17,268	23,146			93,152
Common Stock, Value, Issued		0	0			0
Intercompany Preferred Units		85,000	$ 85,000	[1]
Treasury Stock, Value		0				0
Additional paid-in capital		662,399	$ 528,946			591,518
Retained earnings (deficit)		(416,197)	(322,827)			(435,465)
Stockholders' Equity Attributable to Parent		331,202	291,119			156,053
TOTAL EQUITY		331,202	291,119			156,053
TOTAL LIABILITIES AND EQUITY		348,470	314,265			249,205
Guarantor Subsidiaries [Member] | Consolidated Funds
Noncontrolling interests in Consolidated Funds (Note 2)		0	0			0
Guarantor Subsidiaries [Member] | Consolidated Entities
Restricted cash and cash equivalents		0	0			6,872
Due from brokers		0	0			36,645
Investments		0	0			44,083
Receivables		0	0			281
Prepaid and other assets		0	0			0
Assets	[2]	0	0			87,881
Due to brokers		0	0			15,583
Accrued and other liabilities		0	0			0
Interest payable		0	0			163
Long-term debt		0	0			51,000
Liabilities	[2]	0	0			66,746
Non-Guarantor Subsidiaries [Member]
Cash and cash equivalents		0	0		0	0	4,131
Restricted cash and cash equivalents		0	0			0
Investments		0	0			0
Investment in subsidiaries		0	0			0
Receivables		0	0			0
Prepaid and other assets		0	0			0
Deferred tax assets, net		0	0			0
Equipment and improvements, net		0	0			0
Intangible assets, net		0	0			0
Goodwill		0	0			0
Subtotal		0	0			0
Assets		1,456,220	1,475,649			12,802,578
Due to brokers			0
Distributions Payable		0
Accrued and other liabilities		0	0			0
Contingent Liabilities		0	0			0
Long-term debt		0	0			0
Subtotal		0	0			0
Liabilities		1,414,823	1,434,586			12,440,818
Common Stock, Value, Issued		0	0			0
Intercompany Preferred Units		0	0	[1]
Treasury Stock, Value		0	0			0
Additional paid-in capital		0	0			0
Retained earnings (deficit)		0	0			0
Stockholders' Equity Attributable to Parent		0	0			0
TOTAL EQUITY		41,397	41,063			361,760
TOTAL LIABILITIES AND EQUITY		1,456,220	1,475,649			12,802,578
Non-Guarantor Subsidiaries [Member] | Consolidated Funds
Noncontrolling interests in Consolidated Funds (Note 2)		41,397	41,063			226,996
Non-Guarantor Subsidiaries [Member] | Consolidated Entities
Restricted cash and cash equivalents		80,592	94,018			928,544
Due from brokers		24,293	25,910			83,896
Investments		1,346,963	1,351,403			11,728,743
Receivables		4,185	4,109			40,713
Prepaid and other assets		187	209			20,682
Assets	[2]	1,456,220	1,475,649			12,802,578
Due to brokers		49,350	71,603			375,708
Accrued and other liabilities		623	631			5,825
Interest payable		4,595	5,257			36,013
Long-term debt		1,360,255	1,357,095			12,023,272
Liabilities	[2]	1,414,823	1,434,586			12,440,818
Consolidation, Eliminations [Member]
Cash and cash equivalents		0	0		$ 0	0	$ 0
Restricted cash and cash equivalents		0	0			0
Investments		(81,830)	(81,759)			(41,416)
Investment in subsidiaries		(395,227)	(352,074)			(156,053)
Receivables		(2,684)	(21,247)			(4,345)
Prepaid and other assets		0	0			0
Deferred tax assets, net		0	0			0
Equipment and improvements, net		0	0			0
Intangible assets, net		0	0			0
Goodwill		0	0			0
Subtotal		(479,741)	(455,080)			(201,814)
Assets		(479,741)	(455,080)			(201,814)
Due to brokers			0
Distributions Payable		0
Accrued and other liabilities		(2,169)	(20,646)			0
Contingent Liabilities		0	0			0
Long-term debt		0	0			0
Subtotal		(2,169)	(20,646)			0
Liabilities		(50,881)	(69,788)			(29,583)
Common Stock, Value, Issued		(1)	(25)			0
Intercompany Preferred Units		(85,000)	(85,000)	[1]
Treasury Stock, Value		0	0			0
Additional paid-in capital		(1,547,781)	(1,521,371)			(591,518)
Retained earnings (deficit)		1,237,551	1,254,318			435,465
Stockholders' Equity Attributable to Parent		(395,231)	(352,078)			(156,053)
TOTAL EQUITY		(428,860)	(385,292)			(172,231)
TOTAL LIABILITIES AND EQUITY		(479,741)	(455,080)			(201,814)
Consolidation, Eliminations [Member] | Consolidated Funds
Noncontrolling interests in Consolidated Funds (Note 2)		(33,629)	(33,214)			(16,178)
Consolidation, Eliminations [Member] | Consolidated Entities
Restricted cash and cash equivalents		0	0			0
Due from brokers		0	0			$ 0
Investments		0	0
Receivables		0	0			$ 0
Prepaid and other assets		0	0			0
Assets	[2]	0	0			0
Due to brokers		0	0			0
Accrued and other liabilities		(394)	(438)			(4,343)
Interest payable		(121)	(167)			(2)
Long-term debt		(48,197)	(48,537)			(25,238)
Liabilities	[2]	(48,712)	(49,142)			$ (29,583)
CIFC Corp
Preferred Units, Contributed Capital		$ 85,000	$ 85,000
CIFC Corp | Series A Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage		3.50%	3.50%
[1]	CIFC Corp. holds 85.0 million of intercompany non-voting series A preferred units that bear an annual rate of 3.5%.
[2]	The assets of the Consolidated Entities would not be available to the Company's general creditors, and as a result, the Company does not consider them its assets. Additionally, the investors in the debt and residual interests of the Consolidated Entities have no recourse to the Company's general assets. Therefore, this debt is not the Company's obligation.

RULE S-X 3-10 STATEMENT OF OPER

RULE S-X 3-10 STATEMENT OF OPERATIONS (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Management & Incentive fees	$ 19,815,000	$ 21,614,000
Interest income from investments	933,000	2,607,000
Total net revenues	39,738,000	26,977,000
Employee compensation and benefits	9,514,000	8,564,000
Share-based compensation	2,381,000	1,680,000
Professional Fees	2,072,000	1,926,000
General and administrative expenses	2,517,000	2,297,000
Depreciation and amortization	1,296,000	2,409,000
Impairment of intangible assets	531,000	281,000	$ 1,800,000
Interest expense	1,957,000	494,000
Operating Expenses	29,076,000	19,663,000
Net gain (loss) on investments	271,000	1,193,000
Net gain (loss) on liabilities	(364,000)	(713,000)
Net gain (loss) on investments in subsidiaries	0	0	0	$ 0
Other Nonoperating Income (Expense)	(4,877,000)	1,455,000
Income (loss) before income taxes	5,785,000	8,769,000
Income Tax Expense (Benefit)	(1,278,000)	(3,087,000)	$ 25,239,000	22,158,000
Net income (loss)	4,507,000	5,682,000
Net Income (Loss) Attributable to Parent	4,505,000	5,428,000
Consolidated Entities
Interest income	18,990,000	2,756,000
Interest expense	8,420,000	744,000
Operating Expenses	388,000	1,268,000
Net gain (loss) on investments	2,600,000	2,797,000
Net gain (loss) on liabilities	(7,384,000)	(2,260,000)
Net Gain (Loss) on other investments and derivatives	0	438,000
Net gain (loss) on investments in subsidiaries	0	0
Net Income (Loss) Attributable to Noncontrolling Interest	(2,000)	(254,000)
Parent Company [Member]
Management & Incentive fees	0	0	$ 0	0
Interest income from investments	0	0	0	0
Interest income		0	0	0
Total net revenues	0	0	0	0
Employee compensation and benefits	0	0	0	0
Share-based compensation	130,000	0	0	0
Professional Fees	308,000	0	50,000	0
General and administrative expenses	132,000	0	0	0
Depreciation and amortization	0	0	0	0
Impairment of intangible assets	0	0	0
Interest expense	0	0	0	0
Operating Expenses	570,000	0	50,000	0
Net gain (loss) on investments	0	0	0	0
Net gain (loss) on liabilities	0	0	0	0
Net gain (loss) on investments in subsidiaries	(5,075,000)	0	0	0
Other Nonoperating Income (Expense)	5,075,000	0	0	0
Income (loss) before income taxes	4,505,000	0	(50,000)	0
Income Tax Expense (Benefit)	0	0	0	0
Net income (loss)	4,505,000	0	(50,000)	0
Net Income (Loss) Attributable to Parent	4,505,000	0	(50,000)	0
Parent Company [Member] | Consolidated Entities
Interest income	0
Interest expense	0	0	0	0
Operating Expenses	0	0	0	0
Net gain (loss) on investments	0	0	0	0
Net gain (loss) on liabilities	0	0	0	0
Net Gain (Loss) on other investments and derivatives		0	0	0
Net gain (loss) on investments in subsidiaries	5,075,000	0	0	0
Net Income (Loss) Attributable to Noncontrolling Interest	0	0	0	0
Subsidiary Issuer [Member]
Management & Incentive fees	0	0	0	0
Interest income from investments	744,000	0	0	1,000
Interest income		0	0	0
Total net revenues	744,000	0	0	1,000
Employee compensation and benefits	0	0	0	0
Share-based compensation	130,000	142,000	299,000	274,000
Professional Fees	885,000	1,078,000	6,411,000	3,964,000
General and administrative expenses	644,000	958,000	3,392,000	3,523,000
Depreciation and amortization	839,000	1,821,000	5,543,000	8,512,000
Impairment of intangible assets	0	281,000	1,501,000
Interest expense	1,957,000	494,000	3,808,000	3,915,000
Operating Expenses	4,455,000	4,774,000	20,954,000	20,188,000
Net gain (loss) on investments	0	0	0	0
Net gain (loss) on liabilities	0	0	0	0
Net gain (loss) on investments in subsidiaries	(5,859,000)	(13,289,000)	(46,577,000)	(50,726,000)
Other Nonoperating Income (Expense)	5,859,000	13,289,000	46,577,000	50,726,000
Income (loss) before income taxes	2,148,000	8,515,000	25,623,000	30,539,000
Income Tax Expense (Benefit)	(1,278,000)	(3,087,000)	25,239,000	22,158,000
Net income (loss)	870,000	5,428,000	384,000	8,381,000
Net Income (Loss) Attributable to Parent	870,000	5,428,000	384,000	8,381,000
Subsidiary Issuer [Member] | Consolidated Entities
Interest income	0
Interest expense	0	0	0	0
Operating Expenses	0	0	0	0
Net gain (loss) on investments	0	0	0	0
Net gain (loss) on liabilities	0	0	0	0
Net Gain (Loss) on other investments and derivatives		0	0	0
Net gain (loss) on investments in subsidiaries	5,859,000	13,289,000	46,577,000	50,726,000
Net Income (Loss) Attributable to Noncontrolling Interest	0	0	0	0
Guarantor Subsidiaries [Member]
Management & Incentive fees	21,521,000	21,833,000	96,765,000	84,201,000
Interest income from investments	3,217,000	2,736,000	6,564,000	10,341,000
Total net revenues	24,738,000	25,392,000	104,152,000	96,929,000
Employee compensation and benefits	9,514,000	8,564,000	32,027,000	28,805,000
Share-based compensation	2,121,000	1,538,000	5,251,000	2,418,000
Professional Fees	879,000	848,000	3,474,000	3,295,000
General and administrative expenses	1,741,000	1,339,000	6,530,000	7,163,000
Depreciation and amortization	457,000	588,000	2,234,000	2,909,000
Impairment of intangible assets	531,000	0	327,000
Interest expense	744,000	0	0	321,000
Operating Expenses	15,987,000	13,123,000	50,090,000	46,361,000
Net gain (loss) on investments	1,677,000	939,000	(6,071,000)	3,664,000
Net gain (loss) on liabilities	(364,000)	(713,000)	$ (2,210,000)	(2,932,000)
Net gain (loss) on investments in subsidiaries	(871,000)	0		0
Other Nonoperating Income (Expense)	2,184,000	1,022,000	$ (7,485,000)	158,000
Income (loss) before income taxes	10,935,000	13,291,000	46,577,000	50,726,000
Income Tax Expense (Benefit)	0	0	0	0
Net income (loss)	10,935,000	13,291,000	46,577,000	50,726,000
Net Income (Loss) Attributable to Parent	10,935,000	13,291,000	46,577,000	50,726,000
Guarantor Subsidiaries [Member] | Consolidated Entities
Interest income	0	823,000	823,000	2,387,000
Interest expense	0	231,000	232,000	425,000
Operating Expenses	0	15,000	15,000	1,025,000
Net gain (loss) on investments	0	796,000	796,000	(803,000)
Net gain (loss) on liabilities	0	0	0	0
Net Gain (Loss) on other investments and derivatives		0	0	0
Net gain (loss) on investments in subsidiaries	871,000	0	0	0
Net Income (Loss) Attributable to Noncontrolling Interest	0	0	0	0
Non-Guarantor Subsidiaries [Member]
Management & Incentive fees	0	0	0	0
Interest income from investments	0	0	0	0
Interest income		1,933,000	24,283,000	514,865,000
Total net revenues	18,990,000	1,933,000	24,283,000	514,865,000
Employee compensation and benefits	0	0	0	0
Share-based compensation	0	0	0	0
Professional Fees	0	0	0	0
General and administrative expenses	0	0	0	0
Depreciation and amortization	0	0	0	0
Impairment of intangible assets	0	0	0
Interest expense	0	0	0	0
Operating Expenses	10,689,000	1,985,000	25,287,000	289,896,000
Net gain (loss) on investments	0	0	0	0
Net gain (loss) on liabilities	0	0	0	0
Net gain (loss) on investments in subsidiaries	0	0	0	0
Other Nonoperating Income (Expense)	(7,887,000)	613,000	2,207,000	(244,066,000)
Income (loss) before income taxes	414,000	561,000	1,203,000	(19,097,000)
Income Tax Expense (Benefit)	0	0	0	0
Net income (loss)	414,000	561,000	1,203,000	(19,097,000)
Net Income (Loss) Attributable to Parent	0	0	0	0
Non-Guarantor Subsidiaries [Member] | Consolidated Entities
Interest income	18,990,000
Interest expense	8,595,000	513,000	9,839,000	171,513,000
Operating Expenses	2,094,000	1,472,000	15,448,000	118,383,000
Net gain (loss) on investments	2,600,000	2,001,000	(26,910,000)	(227,974,000)
Net gain (loss) on liabilities	(10,487,000)	(1,826,000)	26,147,000	(18,123,000)
Net Gain (Loss) on other investments and derivatives		438,000	2,970,000	2,031,000
Net gain (loss) on investments in subsidiaries	0	0	0	0
Net Income (Loss) Attributable to Noncontrolling Interest	(414,000)	(561,000)	(1,203,000)	19,097,000
Consolidation, Eliminations [Member]
Management & Incentive fees	(1,706,000)	(219,000)	(4,686,000)	(79,333,000)
Interest income from investments	(3,028,000)	(129,000)	(1,231,000)	(9,552,000)
Total net revenues	(4,734,000)	(348,000)	(5,917,000)	(88,885,000)
Employee compensation and benefits	0	0	0	0
Share-based compensation	0	0	0	0
Professional Fees	0	0	0	0
General and administrative expenses	0	0	0	0
Depreciation and amortization	0	0	0	0
Impairment of intangible assets	0	0	0
Interest expense	(744,000)	0	0	0
Operating Expenses	(2,625,000)	(219,000)	(4,856,000)	(79,341,000)
Net gain (loss) on investments	(1,406,000)	254,000	1,890,000	(1,190,000)
Net gain (loss) on liabilities	0	0	0	0
Net gain (loss) on investments in subsidiaries	11,805,000	13,289,000	46,577,000	50,726,000
Other Nonoperating Income (Expense)	(10,108,000)	(13,469,000)	(46,088,000)	(42,789,000)
Income (loss) before income taxes	(12,217,000)	(13,598,000)	(47,149,000)	(52,333,000)
Income Tax Expense (Benefit)	0	0	0	0
Net income (loss)	(12,217,000)	(13,598,000)	(47,149,000)	(52,333,000)
Net Income (Loss) Attributable to Parent	(11,805,000)	(13,291,000)	(46,577,000)	(50,726,000)
Consolidation, Eliminations [Member] | Consolidated Entities
Interest income	0	0	0	0
Interest expense	(175,000)	0	(167,000)	(7,000)
Operating Expenses	(1,706,000)	(219,000)	(4,689,000)	(79,334,000)
Net gain (loss) on investments	0	0	0	0
Net gain (loss) on liabilities	3,103,000	(434,000)	(1,401,000)	9,127,000
Net Gain (Loss) on other investments and derivatives		0	0	0
Net gain (loss) on investments in subsidiaries	(11,805,000)	(13,289,000)	(46,577,000)	(50,726,000)
Net Income (Loss) Attributable to Noncontrolling Interest	$ 412,000	$ 307,000	$ 572,000	$ 1,607,000

RULE S-X 3-10 STATEMENT OF COMP

RULE S-X 3-10 STATEMENT OF COMPREHENSIVE INCOME (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Guarantor Obligations [Line Items]
Net income (loss)	$ 4,507,000	$ 5,682,000
Other comprehensive income (loss)	0	0
Comprehensive income (loss)	4,507,000	5,682,000
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	4,505,000	5,428,000
Consolidated Entities
Guarantor Obligations [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interest	(2,000)	(254,000)
Parent Company [Member]
Guarantor Obligations [Line Items]
Net income (loss)	4,505,000	0	$ (50,000)	$ 0
Other comprehensive income (loss)	0	0	0	0
Comprehensive income (loss)	4,505,000	0	(50,000)	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	4,505,000	0	(50,000)	0
Parent Company [Member] | Consolidated Entities
Guarantor Obligations [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interest	0	0	0	0
Subsidiary Issuer [Member]
Guarantor Obligations [Line Items]
Net income (loss)	870,000	5,428,000	384,000	8,381,000
Other comprehensive income (loss)	0	0	0	0
Comprehensive income (loss)	870,000	5,428,000	384,000	8,381,000
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	870,000	5,428,000	384,000	8,381,000
Subsidiary Issuer [Member] | Consolidated Entities
Guarantor Obligations [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interest	0	0	0	0
Guarantor Subsidiaries [Member]
Guarantor Obligations [Line Items]
Net income (loss)	10,935,000	13,291,000	46,577,000	50,726,000
Other comprehensive income (loss)	0	0	0	0
Comprehensive income (loss)	10,935,000	13,291,000	46,577,000	50,726,000
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	10,935,000	13,291,000	46,577,000	50,726,000
Guarantor Subsidiaries [Member] | Consolidated Entities
Guarantor Obligations [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interest	0	0	0	0
Non-Guarantor Subsidiaries [Member]
Guarantor Obligations [Line Items]
Net income (loss)	414,000	561,000	1,203,000	(19,097,000)
Other comprehensive income (loss)	0	0	0	0
Comprehensive income (loss)	414,000	561,000	1,203,000	(19,097,000)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	0	0	0	0
Non-Guarantor Subsidiaries [Member] | Consolidated Entities
Guarantor Obligations [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interest	(414,000)	(561,000)	(1,203,000)	19,097,000
Consolidation, Eliminations [Member]
Guarantor Obligations [Line Items]
Net income (loss)	(12,217,000)	(13,598,000)	(47,149,000)	(52,333,000)
Other comprehensive income (loss)	0	0	0	0
Comprehensive income (loss)	(12,217,000)	(13,598,000)	(47,149,000)	(52,333,000)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(11,805,000)	(13,291,000)	(46,577,000)	(50,726,000)
Consolidation, Eliminations [Member] | Consolidated Entities
Guarantor Obligations [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interest	$ 412,000	$ 307,000	$ 572,000	$ 1,607,000

RULE S-X 3-10 STATEMENT OF CASH

RULE S-X 3-10 STATEMENT OF CASH FLOWS (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net income (loss)	$ 4,507,000	$ 5,682,000
Amortization of debt issuance costs and other	76,000	22,000
Share-based compensation	2,381,000	1,680,000
Net (gain) loss on investments and contingent liabilities / other (gain) loss	93,000	(480,000)
Net gain (loss) on investments in subsidiaries	0	0	$ 0	$ 0
Depreciation and amortization	1,296,000	2,409,000
Impairment of intangible assets	531,000	281,000	1,800,000
Deferred income tax expense (benefit)	1,315,000	(150,000)
Excess tax benefits from share-based payment arrangements	230,000	(8,000)
Net (gain) loss on liabilities	364,000	713,000
Due from brokers	0	(974,000)
Receivables	(1,850,000)	461,000
Prepaid and other assets	(848,000)	(1,003,000)
Due to brokers	(61,000)	6,245,000
Accrued and Other Liabilities	(5,461,000)	(6,954,000)
Net cash provided by (used in) operating activities	(7,237,000)	(10,351,000)
Proceeds from the sale of management contracts		0
Purchases of investments	(16,134,000)	(13,193,000)
Sales of investments	9,712,000	35,301,000
Intercompany investments in subsidiaries	0	0
Intercompany distributions from subsidiaries		0
Purchases of equipment and improvements	(61,000)	(403,000)
Net cash provided by (used in) investing activities	6,943,000	(33,168,000)
Repurchases of common shares	(435,000)	0
Intercompany contributions	0	0
Intercompany distributions	0	0
Proceeds from the exercise of options	241,000	121,000
Payments for tax from the delivery of restricted stock units	(45,000)	(265,000)
Payments on contingent liabilities	(999,000)	(1,559,000)
Excess tax benefits from share-based payment arrangements	(230,000)	8,000
Net cash provided by (used in) financing activities	(5,663,000)	25,690,000
Net Cash Provided by (Used in) Continuing Operations	(5,957,000)	(17,829,000)
Cash and cash equivalents	52,011,000	41,461,000	57,968,000	59,290,000
Consolidated Entities
Net gain (loss) on investments in subsidiaries	0	0
Net (gain) loss on investments	(2,600,000)	(2,797,000)
Net (gain) loss on liabilities	7,384,000	2,260,000
Net other (gain) loss	0	(438,000)
Due from brokers	1,616,000	10,348,000
Purchases of investments	(114,723,000)	(143,714,000)
Sales of investments	121,766,000	69,139,000
Receivables	(52,000)	(438,000)
Due to brokers	(22,253,000)	48,068,000
Accrued and Other Liabilities	32,000	0
Interest payable	(616,000)	10,000
Change in restricted cash and cash equivalents	13,426,000	(54,873,000)
Contributions from noncontrolling interests	0	12,100,000
Distributions to noncontrolling interests	(83,000)	(970,000)
Proceeds from issuance of long-term debt	3,830,000	84,100,000
Repayments of Long-term Debt	(7,942,000)	(67,845,000)
Parent Company [Member]
Net income (loss)	4,505,000	0	(50,000)	0
Amortization of debt issuance costs and other	0	0	0	0
Share-based compensation	130,000	0	0	0
Net (gain) loss on investments and contingent liabilities / other (gain) loss	0	0	0	0
Net gain (loss) on investments in subsidiaries	5,075,000	0	0	0
Depreciation and amortization	0	0	0	0
Impairment of intangible assets	0	0	0
Deferred income tax expense (benefit)	0	0	0	0
Excess tax benefits from share-based payment arrangements	0	0	0	0
Net (gain) loss on liabilities	0	0	0	0
Due from brokers		0		0
Receivables	631,000	0	(785,000)	0
Prepaid and other assets	0	0	0	0
Due to brokers	0	0	0	0
Accrued and Other Liabilities	1,142,000	0	50,000	0
Net cash provided by (used in) operating activities	1,333,000	0	(785,000)	0
Proceeds from the sale of management contracts		0		0
Purchases of investments	0	0	0	0
Sales of investments	0	0	0	0
Intercompany investments in subsidiaries	0	0	0	0
Intercompany distributions from subsidiaries		0	785,000	0
Purchases of equipment and improvements	0	0	0	0
Change in restricted cash and cash equivalents		0		0
Net cash provided by (used in) investing activities	0	0	785,000	0
Repurchases of common shares	(435,000)		0
Intercompany contributions	0	0	0	0
Intercompany distributions	0	0	0	0
Proceeds from the exercise of options	241,000	0	0	0
Payments for tax from the delivery of restricted stock units	(45,000)	0	0
Payments on contingent liabilities	0	0	0	0
Excess tax benefits from share-based payment arrangements	0	0	0	0
Proceeds from issuance of long-term debt			0
Net cash provided by (used in) financing activities	(239,000)	0	0	0
Net Cash Provided by (Used in) Continuing Operations	1,094,000	0	0	0
Cash and cash equivalents	1,094,000	0	0	0
Parent Company [Member] | Consolidated Entities
Net gain (loss) on investments in subsidiaries	(5,075,000)	0	0	0
Net (gain) loss on investments	0	0	0	0
Net (gain) loss on liabilities	0	0	0	0
Net other (gain) loss		0	0	0
Due from brokers	0	0	0	0
Purchases of investments	0	0	0	0
Sales of investments	0	0	0	0
Receivables	0	0	0	0
Due to brokers	0	0	0	0
Accrued and Other Liabilities	0	0	0	0
Interest payable	0	0	0	0
Change in restricted cash and cash equivalents	0		0
Contributions from noncontrolling interests		0	0	0
Distributions to noncontrolling interests	0	0	0	0
Proceeds from issuance of long-term debt	0	0	0	0
Repayments of Long-term Debt	0	0	0	0
Subsidiary Issuer [Member]
Net income (loss)	870,000	5,428,000	384,000	8,381,000
Amortization of debt issuance costs and other	76,000	22,000	125,000	696,000
Share-based compensation	130,000	142,000	299,000	274,000
Net (gain) loss on investments and contingent liabilities / other (gain) loss	0	0	0	0
Net gain (loss) on investments in subsidiaries	5,859,000	13,289,000	46,577,000	50,726,000
Depreciation and amortization	839,000	1,821,000	5,543,000	8,512,000
Impairment of intangible assets	0	281,000	1,501,000
Deferred income tax expense (benefit)	1,315,000	(150,000)	11,050,000	3,932,000
Excess tax benefits from share-based payment arrangements	230,000	(8,000)	128,000	(171,000)
Net (gain) loss on liabilities	0	0	0	0
Due from brokers		0		0
Receivables	(3,120,000)	721,000	424,000	(721,000)
Prepaid and other assets	451,000	486,000	481,000	361,000
Due to brokers	(62,000)	0	61,000	0
Accrued and Other Liabilities	(20,015,000)	3,480,000	22,219,000	(666,000)
Net cash provided by (used in) operating activities	(25,145,000)	(1,066,000)	(4,362,000)	(28,513,000)
Proceeds from the sale of management contracts		0		0
Purchases of investments	0	0	0	0
Sales of investments	0	0	0	0
Intercompany investments in subsidiaries	22,474,000	(123,962,000)	148,422,000	440,277,000
Intercompany distributions from subsidiaries		123,962,000	125,404,000	478,341,000
Purchases of equipment and improvements	0	0	0	0
Change in restricted cash and cash equivalents		0		0
Net cash provided by (used in) investing activities	22,474,000	0	(23,018,000)	38,064,000
Repurchases of common shares	0		(1,151,000)
Intercompany contributions	1,891,000	0	0	0
Intercompany distributions	0	0	0	0
Proceeds from the exercise of options	0	121,000	74,000	580,000
Payments for tax from the delivery of restricted stock units	0	(265,000)	(266,000)
Payments on contingent liabilities	0	0	0	0
Excess tax benefits from share-based payment arrangements	(230,000)	8,000	128,000	171,000
Proceeds from issuance of long-term debt			40,000,000
Net cash provided by (used in) financing activities	1,661,000	(136,000)	26,616,000	(8,267,000)
Net Cash Provided by (Used in) Continuing Operations	(1,010,000)	(1,202,000)	(764,000)	1,284,000
Cash and cash equivalents	382,000	954,000	1,392,000	2,156,000	$ 872,000
Subsidiary Issuer [Member] | Consolidated Entities
Net gain (loss) on investments in subsidiaries	(5,859,000)	(13,289,000)	(46,577,000)	(50,726,000)
Net (gain) loss on investments	0	0	0	0
Net (gain) loss on liabilities	0	0	0	0
Net other (gain) loss		0	0	0
Due from brokers	0	0	0	0
Purchases of investments	0	0	0	0
Sales of investments	0	0	0	0
Receivables	0	0	0	0
Due to brokers	0	0	0	0
Accrued and Other Liabilities	0	0	0	0
Interest payable	0	0	0	0
Change in restricted cash and cash equivalents	0		0
Contributions from noncontrolling interests		0	0	0
Distributions to noncontrolling interests	0	0	0	0
Proceeds from issuance of long-term debt	0	0	0	0
Repayments of Long-term Debt	0	0	0	0
Guarantor Subsidiaries [Member]
Net income (loss)	10,935,000	13,291,000	46,577,000	50,726,000
Amortization of debt issuance costs and other	0	0	0	321,000
Share-based compensation	2,121,000	1,538,000	5,251,000	2,418,000
Net (gain) loss on investments and contingent liabilities / other (gain) loss	(1,315,000)	(225,000)	$ 8,281,000	(731,000)
Net gain (loss) on investments in subsidiaries	871,000	0		0
Depreciation and amortization	457,000	588,000	$ 2,234,000	2,909,000
Impairment of intangible assets	531,000	0	327,000
Deferred income tax expense (benefit)	0	0	0	0
Excess tax benefits from share-based payment arrangements	0	0	0	0
Net (gain) loss on liabilities	364,000	713,000	2,210,000	2,932,000
Due from brokers		(974,000)		13,827,000
Receivables	19,335,000	(3,163,000)	(21,480,000)	441,000
Prepaid and other assets	(1,299,000)	(1,489,000)	(168,000)	43,000
Due to brokers	1,000	6,245,000	0	(508,000)
Accrued and Other Liabilities	(5,194,000)	(7,920,000)	(1,928,000)	2,246,000
Net cash provided by (used in) operating activities	24,701,000	5,763,000	104,356,000	4,593,000
Proceeds from the sale of management contracts		0		229,000
Purchases of investments	(17,553,000)	(78,632,000)	(232,539,000)	(136,136,000)
Sales of investments	12,466,000	57,449,000	154,179,000	172,819,000
Intercompany investments in subsidiaries	(2,151,000)	0	0	0
Intercompany distributions from subsidiaries		0	0	0
Purchases of equipment and improvements	(61,000)	(403,000)	(1,059,000)	(2,204,000)
Net cash provided by (used in) investing activities	(7,299,000)	(20,831,000)	(72,548,000)	27,835,000
Repurchases of common shares	0		0
Intercompany contributions	9,629,000	123,962,000	148,422,000	440,277,000
Intercompany distributions	(32,073,000)	(123,962,000)	126,189,000	478,341,000
Proceeds from the exercise of options	0	0	0	0
Payments for tax from the delivery of restricted stock units	0	0	0
Payments on contingent liabilities	(999,000)	(1,559,000)	(3,599,000)	(8,724,000)
Excess tax benefits from share-based payment arrangements	0	0	0	0
Proceeds from issuance of long-term debt			0
Net cash provided by (used in) financing activities	(23,443,000)	(1,559,000)	(32,366,000)	4,212,000
Net Cash Provided by (Used in) Continuing Operations	(6,041,000)	(16,627,000)	(558,000)	36,640,000
Cash and cash equivalents	50,535,000	40,507,000	56,576,000	57,134,000	20,494,000
Guarantor Subsidiaries [Member] | Consolidated Entities
Net gain (loss) on investments in subsidiaries	(871,000)	0	0	0
Net (gain) loss on investments	0	(796,000)	(796,000)	803,000
Net (gain) loss on liabilities	0	0	0	$ 0
Net other (gain) loss		0	0
Due from brokers	0	14,459,000	36,645,000	$ (36,645,000)
Purchases of investments	0	(55,017,000)	(55,017,000)	(102,448,000)
Sales of investments	0	47,462,000	99,895,000	57,563,000
Receivables	0	(352,000)	281,000	(281,000)
Due to brokers	0	(7,882,000)	(15,583,000)	15,583,000
Accrued and Other Liabilities	0	6,000	0	0
Interest payable	0	(8,000)	(163,000)	163,000
Change in restricted cash and cash equivalents	0	755,000	6,871,000	(6,873,000)
Contributions from noncontrolling interests		0	0	0
Distributions to noncontrolling interests	0	0	0	0
Proceeds from issuance of long-term debt	0	0	0	51,000,000
Repayments of Long-term Debt	0	0	(51,000,000)	0
Non-Guarantor Subsidiaries [Member]
Net income (loss)	414,000	561,000	1,203,000	(19,097,000)
Amortization of debt issuance costs and other	0	0	0	0
Share-based compensation	0	0	0	0
Net (gain) loss on investments and contingent liabilities / other (gain) loss	0	0	0	0
Net gain (loss) on investments in subsidiaries	0	0	0	0
Depreciation and amortization	0	0	0	0
Impairment of intangible assets	0	0	0
Deferred income tax expense (benefit)	0	0	0	0
Excess tax benefits from share-based payment arrangements	0	0	0	0
Net (gain) loss on liabilities	0	0	0	0
Due from brokers		0		(995,000)
Receivables	0	0	(245,000)	17,000
Prepaid and other assets	0	0	0	222,000
Due to brokers	0	0	0	(4,991,000)
Accrued and Other Liabilities	0	0	0	(271,000)
Net cash provided by (used in) operating activities	(6,016,000)	(14,917,000)	(548,506,000)	$ (1,234,813,000)
Proceeds from the sale of management contracts		0
Purchases of investments	0	0	0	$ 15,735,000
Sales of investments	0	0	9,660,000	1,001,000
Intercompany investments in subsidiaries	0	0	0	0
Intercompany distributions from subsidiaries		0	0	0
Purchases of equipment and improvements	0	0	0	0
Net cash provided by (used in) investing activities	13,426,000	(55,628,000)	(38,345,000)	(189,285,000)
Repurchases of common shares	0		0
Intercompany contributions	24,000	0	0	0
Intercompany distributions	(24,000)	0	0	0
Proceeds from the exercise of options	0	0	0	0
Payments for tax from the delivery of restricted stock units	0	0	0
Payments on contingent liabilities	0	0	0	0
Excess tax benefits from share-based payment arrangements	0	0	0	0
Proceeds from issuance of long-term debt			0
Net cash provided by (used in) financing activities	(7,410,000)	70,545,000	586,851,000	1,419,967,000
Net Cash Provided by (Used in) Continuing Operations	0	0	0	(4,131,000)
Cash and cash equivalents	0	0	0	0	4,131,000
Non-Guarantor Subsidiaries [Member] | Consolidated Entities
Net gain (loss) on investments in subsidiaries	0	0	0	0
Net (gain) loss on investments	(2,600,000)	(2,001,000)	26,910,000	227,974,000
Net (gain) loss on liabilities	10,487,000	1,826,000	(26,147,000)	18,123,000
Net other (gain) loss		(438,000)	(2,970,000)	(2,031,000)
Due from brokers	1,616,000	(4,111,000)	(27,647,000)	160,765,000
Purchases of investments	(114,723,000)	(88,697,000)	(951,887,000)	(8,715,405,000)
Sales of investments	121,766,000	21,677,000	371,805,000	7,331,128,000
Receivables	(52,000)	(86,000)	(1,618,000)	(24,613,000)
Due to brokers	(22,253,000)	55,950,000	59,008,000	(220,939,000)
Accrued and Other Liabilities	(11,000)	384,000	460,000	1,653,000
Interest payable	(660,000)	18,000	2,622,000	13,647,000
Change in restricted cash and cash equivalents	13,426,000	(55,628,000)	(48,005,000)	(206,021,000)
Contributions from noncontrolling interests		14,712,000	37,741,000	93,587,000
Distributions to noncontrolling interests	(83,000)	(970,000)	(15,307,000)	(37,783,000)
Proceeds from issuance of long-term debt	3,830,000	73,777,000	809,695,000	4,702,304,000
Repayments of Long-term Debt	(11,157,000)	(16,974,000)	(245,278,000)	(3,338,141,000)
Consolidation, Eliminations [Member]
Net income (loss)	(12,217,000)	(13,598,000)	(47,149,000)	(52,333,000)
Amortization of debt issuance costs and other	0	0	0	0
Share-based compensation	0	0	0	0
Net (gain) loss on investments and contingent liabilities / other (gain) loss	1,408,000	(255,000)	(1,890,000)	1,189,000
Net gain (loss) on investments in subsidiaries	(11,805,000)	(13,289,000)	(46,577,000)	(50,726,000)
Depreciation and amortization	0	0	0	0
Impairment of intangible assets	0	0	0
Deferred income tax expense (benefit)	0	0	0	0
Excess tax benefits from share-based payment arrangements	0	0	0	0
Net (gain) loss on liabilities	0	0	0	0
Due from brokers		0		0
Receivables	(18,696,000)	2,903,000	21,179,000	243,000
Prepaid and other assets	0	0	0	0
Due to brokers	0	0	0	0
Accrued and Other Liabilities	18,606,000	(2,514,000)	(20,649,000)	269,000
Net cash provided by (used in) operating activities	(2,110,000)	(131,000)	(1,071,000)	(9,543,000)
Proceeds from the sale of management contracts		0		0
Purchases of investments	1,419,000	65,439,000	166,008,000	91,257,000
Sales of investments	(2,754,000)	(22,148,000)	(94,977,000)	(153,336,000)
Intercompany investments in subsidiaries	(20,323,000)	123,962,000	(148,422,000)	(440,277,000)
Intercompany distributions from subsidiaries		(123,962,000)	(126,189,000)	(478,341,000)
Purchases of equipment and improvements	0	0	0	0
Net cash provided by (used in) investing activities	(21,658,000)	43,291,000	93,264,000	(100,143,000)
Repurchases of common shares	0		0
Intercompany contributions	(11,544,000)	(123,962,000)	(148,422,000)	(440,277,000)
Intercompany distributions	32,097,000	123,962,000	(126,189,000)	(478,341,000)
Proceeds from the exercise of options	0	0	0	0
Payments for tax from the delivery of restricted stock units	0	0	0
Payments on contingent liabilities	0	0	0	0
Excess tax benefits from share-based payment arrangements	0	0	0	0
Proceeds from issuance of long-term debt			0
Net cash provided by (used in) financing activities	23,768,000	(43,160,000)	(92,193,000)	109,686,000
Net Cash Provided by (Used in) Continuing Operations	0	0	0	0
Cash and cash equivalents	0	0	0	0	$ 0
Consolidation, Eliminations [Member] | Consolidated Entities
Net gain (loss) on investments in subsidiaries	11,805,000	13,289,000	46,577,000	50,726,000
Net (gain) loss on investments	0	0	0	0
Net (gain) loss on liabilities	(3,103,000)	434,000	1,401,000	(9,127,000)
Net other (gain) loss		0	0	0
Due from brokers	0	0	0	0
Purchases of investments	0	0	0	0
Sales of investments	0	0	0	13,761,000
Receivables	0	0	0	1,000
Due to brokers	0	0	0	(13,761,000)
Accrued and Other Liabilities	43,000	(390,000)	(373,000)	(508,000)
Interest payable	44,000	0	(167,000)	(3,000)
Change in restricted cash and cash equivalents	0	0	0	0
Contributions from noncontrolling interests		(2,612,000)	(21,641,000)	(100,000)
Distributions to noncontrolling interests	0	0	0	10,685,000
Proceeds from issuance of long-term debt	0	10,323,000	(173,772,000)	(112,323,000)
Repayments of Long-term Debt	$ 3,215,000	$ (50,871,000)	$ 125,453,000	$ 173,360,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares	May. 09, 2016	Mar. 21, 2016	Mar. 31, 2016	Mar. 31, 2015
Subsequent Event [Line Items]
Dividends declared, usd per share			$ 0.34	$ 0.10
Subsequent Event
Subsequent Event [Line Items]
Dividends declared, usd per share	$ 0.25	$ 0.34
Quarterly | Subsequent Event
Subsequent Event [Line Items]
Dividends declared, usd per share	0.10	0.10
Special | Subsequent Event
Subsequent Event [Line Items]
Dividends declared, usd per share	$ 0.15	$ 0.24

CONSOLIDATED BALANCE SHEETS61

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents		$ 57,968	$ 59,290
Restricted cash and cash equivalents		1,694
Intercompany investments in subsidiaries		0
Investments		70,696
Receivables		7,075
Prepaid and other assets		1,973
Deferred tax assets, net		44,425	55,475
Equipment and improvements, net		4,866	5,194
Intangible assets, net		6,857	15,074
Goodwill		76,000
Subtotal		271,554
Assets		1,747,203
LIABILITIES
Due to brokers		61
Accrued and other liabilities		18,397
Contingent Liabilities		8,338
Long-term debt		156,161
Subtotal		182,957
Liabilities		1,568,401
EQUITY
Common Stock, Value, Issued		25
Treasury Stock, Value		0
Additional paid-in capital		992,419
Retained earnings (deficit)		(821,491)
Stockholders' Equity Attributable to Parent		170,953
TOTAL EQUITY		178,802	521,902
TOTAL LIABILITIES AND EQUITY		1,747,203
Consolidated Entities
ASSETS
Restricted cash and cash equivalents		94,018
Due from brokers		25,910
Investments		1,351,403
Receivables		4,109
Prepaid and other assets		209
Assets	[1]	1,475,649
LIABILITIES
Due to brokers		71,603
Accrued and other liabilities		193
Interest payable		5,090
Long-term debt		1,308,558
Liabilities	[1]	1,385,444
Consolidated Funds
EQUITY
Noncontrolling interests in Consolidated Funds (Note 2)		7,849
Consolidated VIEs
ASSETS
Restricted cash and cash equivalents		94,018
Due from brokers		25,910
Investments		1,351,403
Receivables		4,109
Prepaid and other assets		209
Assets	[1]	1,475,649
LIABILITIES
Due to brokers		71,603
Accrued and other liabilities		193
Interest payable		5,090
Long-term Debt, at Fair Value		1,308,558
Liabilities	[1]	1,385,444
CIFC LLC
ASSETS
Cash and cash equivalents		57,968	59,290
Restricted cash and cash equivalents		1,694	1,694
Intercompany investments in subsidiaries		0	0
Investments		70,696	38,699
Receivables		7,075	2,135
Prepaid and other assets		1,973	2,285
Deferred tax assets, net		44,425	55,475
Equipment and improvements, net		4,866	5,194
Intangible assets, net		6,857	15,074
Goodwill		76,000	76,000
Subtotal		271,554	255,846
Assets		1,747,203	13,146,305
LIABILITIES
Due to brokers		61	0
Accrued and other liabilities		18,397	15,584
Contingent Liabilities		8,338	12,668
Long-term debt		156,161	118,170
Subtotal		182,957	146,422
Liabilities		1,568,401	12,624,403
EQUITY
Common Stock, Value, Issued		25	25
Treasury Stock, Value		0	914
Additional paid-in capital		992,419	988,904
Retained earnings (deficit)		(821,491)	(811,695)
Stockholders' Equity Attributable to Parent		170,953	176,320
TOTAL EQUITY		178,802	521,902
TOTAL LIABILITIES AND EQUITY		1,747,203	13,146,305
CIFC LLC | Consolidated Entities
ASSETS
Restricted cash and cash equivalents		94,018	935,416
Due from brokers		25,910	120,541
Investments		1,351,403	11,772,826
Receivables		4,109	40,994
Prepaid and other assets		209	20,682
Assets	[1]	1,475,649	12,890,459
LIABILITIES
Due to brokers		71,603	391,291
Accrued and other liabilities		193	1,482
Interest payable		5,090	36,174
Long-term debt		1,308,558	12,049,034
Liabilities	[1]	1,385,444	12,477,981
CIFC LLC | Consolidated Funds
EQUITY
Noncontrolling interests in Consolidated Funds (Note 2)		7,849	210,818
CIFC LLC | Consolidated VIEs
ASSETS
Restricted cash and cash equivalents		94,018	929,401
Due from brokers		25,910	102,373
Investments		1,351,403	11,573,164
Receivables		4,109	40,235
Prepaid and other assets		209	0
Assets	[1]	1,475,649	12,645,173
LIABILITIES
Due to brokers		71,603	372,956
Accrued and other liabilities		193	1,230
Interest payable		5,090	36,174
Long-term Debt, at Fair Value		1,308,558	12,049,034
Liabilities	[1]	1,385,444	12,459,394
EQUITY
Retained Earnings, Appropriated		0	134,764
CIFC Corp
ASSETS
Cash and cash equivalents		16,013	59,290
Restricted cash and cash equivalents		1,694	1,694
Intercompany investments in subsidiaries		85,000	0
Investments		739	38,699
Receivables		7,029	2,135
Prepaid and other assets		1,973	2,285
Deferred tax assets, net		44,425	55,475
Equipment and improvements, net		4,866	5,194
Intangible assets, net		6,857	15,074
Goodwill		76,000	76,000
Subtotal		244,596	255,846
Assets		244,596	13,146,305
LIABILITIES
Due to brokers		61	0
Accrued and other liabilities		19,033	15,584
Contingent Liabilities		8,338	12,668
Long-term debt		156,161	118,170
Subtotal		183,593	146,422
Liabilities		183,593	12,624,403
EQUITY
Common Stock, Value, Issued		25	25
Treasury Stock, Value		0	914
Additional paid-in capital		992,419	988,904
Retained earnings (deficit)		(931,441)	(811,695)
Stockholders' Equity Attributable to Parent		61,003	176,320
TOTAL EQUITY		61,003	521,902
TOTAL LIABILITIES AND EQUITY		244,596	13,146,305
CIFC Corp | Consolidated Entities
ASSETS
Restricted cash and cash equivalents		0	935,416
Due from brokers		0	120,541
Investments		0	11,772,826
Receivables		0	40,994
Prepaid and other assets		0	20,682
Assets	[1]	0	12,890,459
LIABILITIES
Due to brokers		0	391,291
Accrued and other liabilities		0	1,482
Interest payable		0	36,174
Long-term debt	[1]	0	12,049,034
Liabilities		0	12,477,981
CIFC Corp | Consolidated Funds
EQUITY
Noncontrolling interests in Consolidated Funds (Note 2)		0	210,818
CIFC Corp | Consolidated VIEs
ASSETS
Restricted cash and cash equivalents		0	929,401
Due from brokers		0	102,373
Investments		0	11,573,164
Receivables		0	40,235
Prepaid and other assets		0	0
Assets	[1]	0	12,645,173
LIABILITIES
Due to brokers		0	372,956
Accrued and other liabilities		0	1,230
Interest payable		0	36,174
Long-term Debt, at Fair Value		0	12,049,034
Liabilities	[1]	0	12,459,394
EQUITY
Retained Earnings, Appropriated		$ 0	$ 134,764
[1]	The assets of the Consolidated Entities would not be available to the Company's general creditors, and as a result, the Company does not consider them its assets. Additionally, the investors in the debt and residual interests of the Consolidated Entities have no recourse to the Company's general assets. Therefore, this debt is not the Company's obligation.

CONSOLIDATED BALANCE SHEETS (62

CONSOLIDATED BALANCE SHEETS (VIE) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Restricted cash and cash equivalents		$ 1,694	$ 1,694
Investments		77,347	70,696
Receivables		8,925	7,075
Prepaid and other assets		2,817	1,973
Assets		1,728,079	1,747,203
Due to brokers		0	61
Accrued and other liabilities		12,451	18,397
Liabilities		1,551,611	1,568,401
Consolidated VIEs
Restricted cash and cash equivalents		80,592	94,018
Due from brokers		24,293	25,910
Investments		1,346,963	1,351,403
Receivables		4,185	4,109
Prepaid and other assets		187	209
Assets	[1]	1,456,220	1,475,649
Due to brokers		49,350	71,603
Accrued and other liabilities		229	193
Interest payable		4,474	5,090
Long-term Debt, at Fair Value		1,312,058	1,308,558
Liabilities	[1]	$ 1,366,111	1,385,444
CIFC LLC
Restricted cash and cash equivalents			1,694	$ 1,694
Investments			70,696	38,699
Receivables			7,075	2,135
Prepaid and other assets			1,973	2,285
Assets			1,747,203	13,146,305
Due to brokers			61	0
Accrued and other liabilities			18,397	15,584
Liabilities			1,568,401	12,624,403
CIFC LLC | Consolidated VIEs
Restricted cash and cash equivalents			94,018	929,401
Due from brokers			25,910	102,373
Investments			1,351,403	11,573,164
Receivables			4,109	40,235
Prepaid and other assets			209	0
Assets	[1]		1,475,649	12,645,173
Due to brokers			71,603	372,956
Accrued and other liabilities			193	1,230
Interest payable			5,090	36,174
Long-term Debt, at Fair Value			1,308,558	12,049,034
Liabilities	[1]		1,385,444	12,459,394
CIFC Corp
Restricted cash and cash equivalents			1,694	1,694
Investments			739	38,699
Receivables			7,029	2,135
Prepaid and other assets			1,973	2,285
Assets			244,596	13,146,305
Due to brokers			61	0
Accrued and other liabilities			19,033	15,584
Liabilities			183,593	12,624,403
CIFC Corp | Consolidated VIEs
Restricted cash and cash equivalents			0	929,401
Due from brokers			0	102,373
Investments			0	11,573,164
Receivables			0	40,235
Prepaid and other assets			0	0
Assets	[1]		0	12,645,173
Due to brokers			0	372,956
Accrued and other liabilities			0	1,230
Interest payable			0	36,174
Long-term Debt, at Fair Value			0	12,049,034
Liabilities	[1]		$ 0	$ 12,459,394
[1]	The assets of the Consolidated Entities would not be available to the Company's general creditors, and as a result, the Company does not consider them its assets. Additionally, the investors in the debt and residual interests of the Consolidated Entities have no recourse to the Company's general assets. Therefore, this debt is not the Company's obligation.

CONSOLIDATED BALANCE SHEETS (63

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Common Stock, Par or Stated Value Per Share	$ 0.001
Common shares issued	25,314,756
Common stock, shares outstanding	25,314,756
Treasury stock, shares	0
Common stock, shares authorized	500,000,000
CIFC LLC
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common shares issued	25,314,756	25,323,417
Common stock, shares outstanding	25,314,756	25,192,973
Treasury stock, shares	0	130,444
Common stock, shares authorized	500,000,000	500,000,000
CIFC Corp
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common shares issued	25,314,756	25,323,417
Common stock, shares outstanding	25,314,756	25,192,973
Treasury stock, shares	0	130,444
Common stock, shares authorized	500,000,000	500,000,000

CONSOLIDATED STATEMENTS OF OP64

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Expenses
Impairment of intangible assets	$ 1,800
Net income (loss)
Income Tax Expense (Benefit)	$ 25,239	$ 22,158
Net income (loss)
Consolidated Entities
Net income (loss)
Net (income) loss attributable to noncontrolling interest in Consolidated Entities
CIFC LLC
Revenues
Management & Incentive fees	$ 92,079	4,868
Interest income from investments	5,333	790
Total net revenues	122,518	522,910
Expenses
Employee compensation and benefits	32,027	28,805
Share-based compensation	5,550	2,692
Professional Fees	9,935	7,259
General and administrative expenses	9,922	10,686
Depreciation and amortization	7,777	11,421
Impairment of intangible assets	1,828	0
Interest expense	3,808	4,236
Operating Expenses	91,525	277,104
Other Income (Expense) and Gain (Loss)
Net gain (loss) on investments	(4,181)	2,474
Net gain (loss) on liabilities	(2,210)	(2,932)
Net gain on sale of management contract	0	229
Net other gain (loss)	(4,789)	(235,971)
Net income (loss)
Income (loss) before income taxes	26,204	9,835
Income Tax Expense (Benefit)	25,239	22,158
Net income (loss)	965	(12,323)
Net Income (Loss) Attributable to Parent	$ 334	$ 8,381
Earnings (loss) per share
Earnings Per Share, Basic	$ 0.01	$ 0.37
Earnings (loss) per share, Diluted	$ 0.01	$ 0.35
Weighted-average number of shares outstanding -
Weighted Average Number of Shares Outstanding, Basic	25,314,696	22,908,846
Weighted Average Number of Shares Outstanding, Diluted	26,414,268	24,167,641
CIFC LLC | Consolidated Entities
Revenues
Interest income from investments	$ 15,202	$ 345,321
Investment income	25,106	517,252
Expenses
Interest expense	9,904	171,931
Operating Expenses	10,774	40,074
Other Income (Expense) and Gain (Loss)
Net gain (loss) on investments	(26,114)	(228,777)
Net gain (loss) on liabilities	24,746	(8,996)
Net Gain (Loss) on other investments and derivatives	2,970	2,031
Net income (loss)
Net (income) loss attributable to noncontrolling interest in Consolidated Entities	(631)	20,704
CIFC Corp
Revenues
Management & Incentive fees	92,079	4,868
Interest income from investments	5,333	790
Total net revenues	122,518	522,910
Expenses
Employee compensation and benefits	32,027	28,805
Share-based compensation	5,550	2,692
Professional Fees	9,885	7,259
General and administrative expenses	9,922	10,686
Depreciation and amortization	7,777	11,421
Impairment of intangible assets	1,828	0
Interest expense	3,808	4,236
Operating Expenses	91,475	277,104
Other Income (Expense) and Gain (Loss)
Net gain (loss) on investments	(4,181)	2,474
Net gain (loss) on liabilities	(2,210)	(2,932)
Net gain on sale of management contract	0	229
Net other gain (loss)	(4,789)	(235,971)
Net income (loss)
Income (loss) before income taxes	26,254	9,835
Income Tax Expense (Benefit)	25,239	22,158
Net income (loss)	1,015	(12,323)
Net Income (Loss) Attributable to Parent	$ 384	$ 8,381
Earnings (loss) per share
Earnings Per Share, Basic	$ 0.02	$ 0.37
Earnings (loss) per share, Diluted	$ 0.01	$ 0.35
Weighted-average number of shares outstanding -
Weighted Average Number of Shares Outstanding, Basic	25,314,696	22,908,846
Weighted Average Number of Shares Outstanding, Diluted	26,414,268	24,167,641
CIFC Corp | Consolidated Entities
Revenues
Interest income from investments	$ 15,202	$ 345,321
Investment income	25,106	517,252
Expenses
Interest expense	9,904	171,931
Operating Expenses	10,774	40,074
Other Income (Expense) and Gain (Loss)
Net gain (loss) on investments	(26,114)	(228,777)
Net gain (loss) on liabilities	24,746	(8,996)
Net Gain (Loss) on other investments and derivatives	2,970	2,031
Net income (loss)
Net (income) loss attributable to noncontrolling interest in Consolidated Entities	$ (631)	$ 20,704

CONSOLIDATED STATEMENTS OF CO65

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Net income (loss)	$ 4,507	$ 5,682
Other comprehensive income (loss)	0	0
Comprehensive income (loss)	4,507	5,682
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	4,505	5,428
Consolidated Entities
Net (income) loss attributable to noncontrolling interest in Consolidated Entities	$ (2)	$ (254)
CIFC LLC
Net income (loss)			$ 965	$ (12,323)
Other comprehensive income (loss)			0	0
Comprehensive income (loss)			965	(12,323)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent			334	8,381
CIFC LLC | Consolidated Entities
Net (income) loss attributable to noncontrolling interest in Consolidated Entities			(631)	20,704
CIFC Corp
Net income (loss)			1,015	(12,323)
Other comprehensive income (loss)			0	0
Comprehensive income (loss)			1,015	(12,323)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent			384	8,381
CIFC Corp | Consolidated Entities
Net (income) loss attributable to noncontrolling interest in Consolidated Entities			$ (631)	$ 20,704

CONSOLIDATED STATEMENTS OF EQ66

CONSOLIDATED STATEMENTS OF EQUITY Statement - USD ($) $ in Thousands	Total	CIFC LLC	CIFC Corp	Common Stock [Member]	Treasury Stock	Common stock par [Member]	Treasury stock Par [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Retained Earnings, Appropriated [Member]	CIFC LLC	CIFC LLCCommon Stock [Member]	CIFC LLCTreasury Stock	CIFC LLCCommon stock par [Member]	CIFC LLCTreasury stock Par [Member]	CIFC LLCAdditional Paid-in Capital [Member]	CIFC LLCRetained Earnings [Member]	CIFC LLCNoncontrolling Interest [Member]	CIFC LLCRetained Earnings, Appropriated [Member]	CIFC Corp	CIFC CorpCommon Stock [Member]	CIFC CorpTreasury Stock	CIFC CorpCommon stock par [Member]	CIFC CorpTreasury stock Par [Member]	CIFC CorpAdditional Paid-in Capital [Member]	CIFC CorpRetained Earnings [Member]	CIFC CorpNoncontrolling Interest [Member]	CIFC CorpRetained Earnings, Appropriated [Member]	CIFC CorpCIFC LLCRetained Earnings [Member]
Beginning Balance, Common shares at Dec. 31, 2013													20,791,000									20,791,000
Treasury stock, shares at Dec. 31, 2013														130,000									130,000
Beginning Balance at Dec. 31, 2013		$ 151,260	$ 151,260									$ 307,753			$ 21	$ (914)	$ 963,011	$ (810,858)	$ 5,107	$ 151,386	$ 307,753			$ 21	$ (914)	$ 963,011	$ (810,858)	$ 5,107	$ 151,386
Net income (loss)		8,381	8,381									(12,323)						8,381	4,840	(25,544)	(12,323)						8,381	4,840	(25,544)
Exercise of warrants, shares													99,000									99,000
Exercise of warrants		128	128									128					128				128					128
Extension of warrants		200	200									200					200				200					200
Share-based compensation, net, shares													51,000									51,000
Share-based compensation, net		2,697	2,697									2,697					2,697				2,697					2,697
Exercise of options		617	617									617					617				617					617
Exercised options Shares													120,000									120,000
Conversion of Convertible Notes, shares													4,132,000									4,132,000
Conversion of Convertible Notes		22,255	22,255									22,255			4		22,251				22,255			4		22,251
Contribution from noncontrolling interests												93,487							93,487		93,487							93,487
Distributions to noncontrolling interests												(27,098)							(27,098)		(27,098)							(27,098)
Consolidation of Consolidated Entities												149,037							140,115	8,922	149,037							140,115	8,922
Deconsolidation of Consolidated Entities												(5,633)							(5,633)		(5,633)							(5,633)
Dividends, Paid-in-kind																					0
Dividends, Cash		(9,218)	(9,218)									(9,218)						(9,218)			(9,218)						(9,218)
Ending Balance at Dec. 31, 2014	$ 521,902	176,320	176,320			$ 25	$ (914)	$ 988,904	$ (811,695)	$ 210,818	$ 134,764	$ 521,902			25	(914)	988,904	(811,695)	210,818	134,764	$ 521,902			25	(914)	988,904	(811,695)	210,818	134,764
Treasury stock, shares at Dec. 31, 2014					(130,000)							130,444		130,000							130,444		130,000
Ending Balance, Common shares at Dec. 31, 2014				25,193,000									25,193,000									25,193,000
Adoption of ASU 2015-02 (Note 3)	(332,270)									(204,393)	(127,877)
Adoption of ASU 2014-13 (Note 3)	(6,887)										(6,887)
Net income (loss)	5,682	5,428							5,428	254	0
Share-based compensation, net	1,415	1,415						1,415
Exercise of options	129	129						129
Exercised options Shares				25,000
Contribution from noncontrolling interests	12,100									12,100
Distributions to noncontrolling interests	(970)									(970)
Dividends, Cash	(2,543)	(2,543)							(2,543)
Ending Balance at Mar. 31, 2015	198,558	180,749				25	(914)	990,448	(808,810)	17,809	0
Treasury stock, shares at Mar. 31, 2015					(130,000)
Ending Balance, Common shares at Mar. 31, 2015				25,301,000
Beginning Balance, Common shares at Dec. 31, 2014				25,193,000									25,193,000									25,193,000
Treasury stock, shares at Dec. 31, 2014					(130,000)							130,444		130,000							130,444		130,000
Beginning Balance at Dec. 31, 2014	$ 521,902	176,320	176,320			25	(914)	988,904	(811,695)	210,818	134,764	$ 521,902			25	(914)	988,904	(811,695)	210,818	134,764	$ 521,902			25	(914)	988,904	(811,695)	210,818	134,764
Adoption of ASU 2015-02 (Note 3)										(204,393)	(127,877)	(332,270)							(204,393)	(127,877)	(332,270)							(204,393)	(127,877)
Adoption of ASU 2014-13 (Note 3)											(6,887)	(6,887)								(6,887)	(6,887)								(6,887)
Net income (loss)		334	384									965						334	631		1,015						384	631
Extension of warrants		350	350									350					350				350					350
Repurchases of common stock, shares													(168,000)	(168,000)								(168,000)	(168,000)
Repurchases of common shares		(1,151)	(1,151)									(1,151)				(1,151)					(1,151)				(1,151)
Treasury stock, shares retired														298,000									298,000
Treasury stock retired		0	0									0				2,065	(2,065)				0				2,065	(2,065)
Share-based compensation, net, shares													255,000									255,000
Share-based compensation, net		5,286	5,286									5,286					5,286				5,286					5,286
Exercise of options		(56)	(56)									(56)					(56)				(56)					(56)
Exercised options Shares													35,000									35,000
Conversion of Convertible Notes																	0									0
Contribution from noncontrolling interests												16,100							16,100		16,100							16,100
Distributions to noncontrolling interests												(15,307)							(15,307)		(15,307)							(15,307)
Deconsolidation of Consolidated Entities			0																		(7,849)							(7,849)
Dividends, Paid-in-kind			(110,000)																		(110,000)									$ (110,000)
Dividends, Cash		(10,130)	(10,130)									(10,130)						(10,130)			(10,130)						(10,130)
Ending Balance at Dec. 31, 2015	$ 178,802	170,953	$ 61,003			25	0	992,419	(821,491)	7,849	0	$ 178,802			$ 25	$ 0	$ 992,419	$ (821,491)	$ 7,849	$ 0	$ 61,003			$ 25	$ 0	$ 992,419	$ (931,441)	$ 0	$ 0
Treasury stock, shares at Dec. 31, 2015	0				0							0		0							0		0
Ending Balance, Common shares at Dec. 31, 2015				25,315,000									25,315,000									25,315,000
Net income (loss)	$ 4,507	4,505							4,505	2
Repurchases of common stock, shares				0	(75,000)
Repurchases of common shares	(435)	(435)					(435)
Share-based compensation, net	2,135	2,135						2,135
Exercise of options	212	212						212
Exercised options Shares				50,000
Distributions to noncontrolling interests	(83)									(83)
Dividends, Cash	(8,670)	(8,670)							(8,670)
Ending Balance at Mar. 31, 2016	$ 176,468	$ 168,700				$ 25	$ (435)	$ 994,766	$ (825,656)	$ 7,768	$ 0
Treasury stock, shares at Mar. 31, 2016	75,296				75,000
Ending Balance, Common shares at Mar. 31, 2016				25,574,000

CONSOLIDATED STATEMENTS OF EQ67

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
CIFC LLC
Common Stock, Dividends, Per Share, Cash Paid	$ 0.40	$ 0.40
CIFC Corp
Common Stock, Dividends, Per Share, Cash Paid	$ 0.40	$ 0.40

CONSOLIDATED STATEMENTS OF CA68

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Impairment of intangible assets	$ 1,800
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash and cash equivalents	57,968	$ 59,290
CIFC LLC
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	965	(12,323)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization of debt issuance costs and other	125	1,017
Share-based compensation	5,550	2,692
Net (gain) loss on investments and contingent liabilities / other (gain) loss	6,391	458
Depreciation and amortization	7,777	11,421
Impairment of intangible assets	1,828	0
Deferred income tax expense (benefit)	11,050	3,932
Excess tax benefits from share-based payment arrangements	128	(171)
Net gain on sale of management contract	0	(229)
Net gain (loss) on liabilities	(2,210)	(2,932)
Changes in operating assets and liabilities:
Due from brokers	0	12,832
Receivables	(907)	(20)
Prepaid and other assets	313	626
Due to brokers	61	(5,499)
Accrued and Other Liabilities	(308)	1,578
Change in restricted cash and cash equivalents	0	7
Net cash provided by (used in) operating activities	(450,368)	(1,268,276)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale of management contracts	0	229
Purchases of investments	(66,531)	(29,144)
Sales of investments	68,862	20,484
Purchases of equipment and improvements	(1,059)	(2,204)
Net cash provided by (used in) investing activities	(39,862)	(223,529)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchases of common shares	(1,151)	0
Distributions paid	(10,130)	(9,218)
Proceeds from extension of warrants	350	200
Proceeds from the exercise of options	74	580
Payments for tax from the delivery of restricted stock units	(266)	0
Deferred purchase payments and payments on contingent liabilities	(3,599)	(8,724)
Excess tax benefits from share-based payment arrangements	(128)	(171)
Proceeds from issuance of long-term debt	40,000
Debt Issuance Cost	(2,133)	0
Net cash provided by (used in) financing activities	488,908	1,525,598
Net increase (decrease) in cash and cash equivalents	(1,322)	33,793
Cash and cash equivalents	57,968	59,290
SUPPLEMENTAL DISCLOSURE:
Cash paid for interest	2,820	3,266
Cash paid for income taxes	13,600	18,875
Exercise of stock options and RSUs	312	0
Conversion of Convertible Notes		22,255
CIFC LLC | Consolidated Entities
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Net (gain) loss on investments	26,114	228,777
Net gain (loss) on liabilities	24,746	(8,996)
Net other (gain) loss	(2,970)	(2,031)
Changes in operating assets and liabilities:
Due from brokers	8,998	124,120
Purchases of investments	(1,006,904)	(8,817,853)
Sales of investments	471,700	7,402,452
Receivables	(1,337)	(24,893)
Due to brokers	43,425	(219,117)
Accrued and Other Liabilities	87	1,145
Interest payable	2,292	13,807
CASH FLOWS FROM INVESTING ACTIVITIES:
Change in restricted cash and cash equivalents	(41,134)	(212,894)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt	635,923	4,640,981
Contributions from noncontrolling interests	16,100	93,487
Distributions to noncontrolling interests	(15,307)	(27,098)
Payments made on long-term debt	(170,825)	(3,164,781)
SUPPLEMENTAL DISCLOSURE:
Cash paid for interest	10,426	158,111
Consolidation of net assets	13,091	160,074
Deconsolidation of net assets	(22,585)	(2,001)
Paid-in-Kind Interest	89	2,007
CIFC Corp
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	1,015	(12,323)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization of debt issuance costs and other	125	1,017
Share-based compensation	5,550	2,692
Net (gain) loss on investments and contingent liabilities / other (gain) loss	6,391	458
Depreciation and amortization	7,777	11,421
Impairment of intangible assets	1,828	0
Deferred income tax expense (benefit)	11,050	3,932
Excess tax benefits from share-based payment arrangements	128	(171)
Net gain on sale of management contract	0	(229)
Net gain (loss) on liabilities	(2,210)	(2,932)
Changes in operating assets and liabilities:
Due from brokers		12,832
Receivables	(907)	(20)
Prepaid and other assets	313	626
Due to brokers	61	(5,499)
Accrued and Other Liabilities	$ (358)	1,578
Change in restricted cash and cash equivalents		(7)
Net cash provided by (used in) operating activities	$ (450,368)	(1,268,276)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale of management contracts		229
Purchases of investments	(66,531)	(29,144)
Sales of investments	68,862	20,484
Purchases of equipment and improvements	(1,059)	(2,204)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchases of common shares	(1,151)
Dividends, Paid-in-kind	110,000	0
Distributions paid	(10,130)	(9,218)
Proceeds from the exercise of options	74	580
Payments for tax from the delivery of restricted stock units	(266)	0
Deferred purchase payments and payments on contingent liabilities	(3,599)	(8,724)
Excess tax benefits from share-based payment arrangements	(128)	(171)
Proceeds from issuance of long-term debt	40,000
Debt Issuance Cost	(2,133)	0
Net cash provided by (used in) financing activities	446,953	1,525,598
Net increase (decrease) in cash and cash equivalents	(43,277)	33,793
Cash and cash equivalents	16,013	59,290
SUPPLEMENTAL DISCLOSURE:
Cash paid for interest	2,820	3,266
Cash paid for income taxes	13,600	18,875
Exercise of stock options and RSUs	312	0
Conversion of Convertible Notes		22,255
CIFC Corp | Consolidated Entities
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Net (gain) loss on investments	26,114	228,777
Net gain (loss) on liabilities	24,746	(8,996)
Net other (gain) loss	(2,970)	(2,031)
Changes in operating assets and liabilities:
Due from brokers	8,998	124,120
Purchases of investments	(1,006,904)	(8,817,853)
Sales of investments	471,700	7,402,452
Receivables	(1,337)	(24,893)
Due to brokers	43,425	(219,117)
Accrued and Other Liabilities	87	1,145
Interest payable	2,292	13,807
CASH FLOWS FROM INVESTING ACTIVITIES:
Change in restricted cash and cash equivalents	(41,134)	(212,894)
Net cash provided by (used in) investing activities	(39,862)	(223,529)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt	635,923	4,640,981
Contributions from noncontrolling interests	16,100	93,487
Distributions to noncontrolling interests	(15,307)	(27,098)
Payments made on long-term debt	(170,825)	(3,164,781)
SUPPLEMENTAL DISCLOSURE:
Cash paid for interest	10,426	158,111
Consolidation of net assets	1,475,648	160,074
Deconsolidation of net assets	(1,385,444)	2,001
Paid-in-Kind Interest	0	2,007
Warrant | DFR Holdings LLC
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from extension of warrants		200
Warrant | DFR Holdings LLC | CIFC Corp
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from extension of warrants	350	200
Dividend in kind cash [Member] | CIFC Corp
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends, Paid-in-kind	(41,955)
Additional Paid-in Capital [Member] | CIFC LLC
SUPPLEMENTAL DISCLOSURE:
Conversion of Convertible Notes	0	22,251
Additional Paid-in Capital [Member] | CIFC Corp
SUPPLEMENTAL DISCLOSURE:
Conversion of Convertible Notes	$ 0	$ 22,251

ORGANIZATION AND BUSINESS69

ORGANIZATION AND BUSINESS	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	Organization and Business Organization — CIFC LLC (together with its subsidiaries, "CIFC" or the "Company") is a Delaware limited liability company headquartered in New York City. The Company is a private debt manager specializing in secured U.S. corporate loan strategies. The Company's primary business is to provide investment management services for institutional investors, including pension funds, hedge funds, asset management firms, banks, insurance companies and other types of institutional investors around the world. Fee Earning Assets Under Management (“Fee Earning AUM” or “AUM”) refers to the principal balance, net asset value or value of assets managed by the Company on which the Company earns management and/or incentive fees. The Company's AUM is primarily comprised of Collateralized Loan Obligations ("CLOs"). In addition, the Company manages credit funds and other loan-based products (together, "Non-CLO products" and together with CLOs, "Funds"). The Company manages these credit products through opportunistic investment strategies where the Company seeks to generate current income and/or capital appreciation, primarily through senior secured corporate loan investments (“SSCLs”) and, to a lesser extent, other investments. The Company also manages Collateralized Debt Obligations (“CDOs”), which it does not expect to issue in the future. The Company has three primary sources of revenue: management fees, incentive fees and investment income. Management fees are generally based on a percentage of AUM of the Funds. Incentive fees are earned based on the performance of the Funds. Investment income represents interest income and realized/unrealized gains and losses on investments in the products sponsored by the Company and third parties. On December 31, 2015, CIFC Corp., the formerly publicly traded entity, completed a series of transactions (the "Reorganization Transaction") to become a subsidiary of CIFC LLC. The series of transactions changed the Company's top-level form of organization from a corporation to a limited liability company. As of January 1, 2016, the Company was taxed as a partnership. The Reorganization Transaction was a transaction between entities under common control; therefore, the prior year comparative Condensed Consolidated Financial Statements include the Consolidated Balance Sheet, Statement of Operations, Comprehensive Income (Loss), Equity and Cash Flows as of and for the three months ended March 31, 2015 of CIFC Corp.	Organization and Business Organization —On December 31, 2015, CIFC Corp. completed a series of transactions (or the "Reorganization Transaction") to become a subsidiary of CIFC LLC, a publicly traded limited liability company ("PTP"). CIFC LLC (together with its subsidiaries, "CIFC" or the "Company") is a Delaware limited liability company headquartered in New York City. The series of transactions changed the Company's top-level form of organization from a corporation to a limited liability company. This allows the Company to be taxed as partnership rather than a corporation for U.S. Federal tax purposes and allows it to minimize entity-level taxation on investment income. As part of the Reorganization Transaction, CIFC Corp. distributed ownership of certain of its subsidiary entities holding certain investment assets to CIFC LLC and retained non-voting Series A Preferred Units ("Preferred Units") issued by certain wholly-owned subsidiaries of CIFC LLC (see Note 16 ). Each share of common stock of CIFC Corp. outstanding immediately prior to the Reorganization Transaction was converted into the right to receive one common share representing a limited liability company interest in CIFC LLC. Further, CIFC LLC assumed all obligations under the CIFC Corp. 2011 Stock Option and Incentive Plan (the "Stock Incentive Plan"). All the terms and conditions that were in effect immediately prior to the Reorganization Transaction under each outstanding equity award assumed by CIFC LLC will continue in full force and effect after the Reorganization Transaction, except that the interests issuable under each such award will be common shares of CIFC LLC instead of common stock of CIFC Corp. CIFC Corp. remains the issuer and primary obligor of our Junior Subordinated Notes and the Senior Notes (see below). Further, CIFC LLC and certain other subsidiaries of CIFC LLC have provided full and unconditional guarantees of the obligations of CIFC Corp. under the Junior Subordinated Notes and the Senior Notes. In 2013, DFR Holdings LLC ("DFR Holdings") purchased 10,090,909 shares of the Company's outstanding common shares and 2,000,000 warrants. In 2014, DFR Holdings exercised its right to convert $25.0 million aggregate principal amount of convertible notes into 4,132,231 of common shares (see Note 11 , 12 and 16 ). As of December 31, 2015 , DFR Holdings owned approximately 18.8 million of the Company’s common shares which is approximately 74% of the Company's outstanding shares (approximately 70% on a fully diluted basis). Business —The Company is a private debt manager specializing in secured U.S. corporate loan strategies. The Company's primary business is to provide investment management services for institutional investors, including pension funds, hedge funds, asset management firms, banks, insurance companies and other types of institutional investors around the world. Fee Earning Assets Under Management (“Fee Earning AUM” or “AUM”) refers to the principal balance, net asset value or value of assets managed by the Company on which the Company earns management and/or incentive fees. The Company's AUM is primarily comprised of Collateralized Loan Obligations ("CLOs"). In addition, the Company manages credit funds and other loan-based products (together, "Non-CLO products" and together with CLOs, "Funds"). The Company manages these credit products through opportunistic investment strategies where the Company seeks to generate current income and/or capital appreciation, primarily through senior secured corporate loan investments (“SSCLs”) and, to a lesser extent, other investments. The Company also manages Collateralized Debt Obligations (“CDOs”), which it does not expect to issue in the future. Management internally views and manages the business as one reportable segment. The Company operates as a single operating segment as managed by CIFC's Co-Presidents, who are considered the Company's chief operating decision makers ("CODM"). The CODM bears the ultimate responsibility for, and is actively engaged in, the allocation of resources and the evaluation of the Company's operating and financial results. The Company has concluded that CIFC has a single operating segment based on the following: • The Company is managed under a functionally-based organizational structure with the head of each function reporting directly to the CODM; • The Company's CODM allocates resources and makes other operating decisions based on specific business opportunities; and • The Company has an integrated investment process through which the Investment Research, Portfolio Management and Trading teams support all the products that the Company offers. The Company has three primary sources of revenue: management fees, incentive fees and investment income. Management fees are generally based on a percentage of AUM of the Funds. Incentive fees are earned based on the performance of the Funds. Investment income represents interest income and realized/unrealized gains and losses on investments in the products sponsored by us and third parties.

BASIS OF PRESENTATION AND PRI70

BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation Basis of Presentation —The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in conformity with the instructions to Form 10-Q and Article 10-01 of Regulation S-X for interim financial statements. Accordingly, they do not include all information and footnotes required by generally accepted accounting principles in the United States of America ("GAAP") for complete financial statements. The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Management believes that estimates utilized in the preparation of the Condensed Consolidated Financial Statements are prudent and reasonable. Actual results could differ from those estimates and such differences could be material. These accompanying unaudited Condensed Consolidated Financial Statements and related Notes should be read in conjunction with the Consolidated Financial Statements and related Notes included in the 2015 Annual Report. In the opinion of management, the accompanying Condensed Consolidated Financial Statements contain all adjustments, consisting of normal recurring adjustments necessary for a fair statement of the results for the interim periods presented. Such operating results may not be indicative of the expected results for any other interim periods or the entire year. Certain prior year amounts in the Condensed Consolidated Financial Statements and the related notes have been reclassified to conform to current period presentation. During late 2015, we adopted certain Accounting Standard Updates ("ASU") issued by the Financial Accounting Standards Board (FASB) such as the deconsolidation of certain CLOs and Funds (or ASU 2015-02) and the valuation of financial assets and liabilities of Consolidated CLOs (or ASU 2014-13) which were applied on a modified retroactive basis. As such, the Condensed Consolidated Financial Statements and the related notes for the three months ended March 31, 2015 have been re-presented to reflect the impact of these adoptions (see the 2015 Annual Report). Further, other reclassified items include a detailed break out of line items for net results of Consolidated Entities, Employee compensation and benefits, Share-based compensation, and General and administrative expenses on the Condensed Consolidated Statements of Operations as well as Contributions from and Distributions to noncontrolling interests on the Condensed Consolidated Statements of Cash Flows and Condensed Consolidated Statements of Equity. Principles of Consolidation —The Condensed Consolidated Financial Statements include the financial statements of CIFC and its wholly-owned subsidiaries, the entities in which the Company has a controlling interest ("Consolidated Funds") and VIEs for which the Company is deemed to be the primary beneficiary (together with Consolidated Funds, the "Consolidated Entities"). All intercompany balances and transactions have been eliminated upon consolidation. This consolidation, particularly with respect to the Consolidated Entities, significantly impacts the Company's Condensed Consolidated Financial Statements. Consolidated Entities —Consolidated Entities includes the operating results of the Consolidated Funds and the Consolidated VIEs. As of both March 31, 2016 and December 31, 2015 , the Company held $81.8 million of investments in its Consolidated Entities. Consolidated VOEs —The Company consolidates entities in which it has a controlling voting interest. As of March 31, 2016 and December 31, 2015 , the Company did not consolidate any entities under the voting interest model. Consolidated VIEs —The Company also consolidates variable interest entities in which it is deemed the primary beneficiary. These Consolidated VIEs generally include certain CLOs (collectively, the "Consolidated CLOs"), warehouses, loan investment products, and other similar legal entities. Tactical Income Fund —The Company invests in and manages an open-end credit fund that invests primarily in second-lien loans (the "Tactical Income Fund"). The Company consolidated the Tactical Income Fund. Under the consolidation rules, limited partnerships where investors lack the right to remove the general partners are deemed VIEs. The Company is deemed the primary beneficiary as it cannot be removed as the investment manager and has a significant financial interest in the fund. As of March 31, 2016 and December 31, 2015 , the Company held an investment of $33.6 million and $33.2 million , respectively, and for both periods the limited partners held $7.8 million . Limited partners' interests were reported in "Noncontrolling interests in Consolidated Funds" on the Condensed Consolidated Balance Sheet. Consolidated CLOs and Other —As of March 31, 2016 and December 31, 2015 , the Company consolidated 2 CLOs and 2 credit funds (including Tactical Income Fund). Warehouses — From time to time, the Company will create special purpose vehicles ("SPVs") to warehouse SSCLs in advance of sponsoring new CLOs or other funds. The Company may contribute equity to the new SPVs which are typically levered three to five times depending on the terms agreed to with the warehousing counterparties. When the related CLO or Fund is sponsored, typically around three to nine months later, the warehouse is “terminated,” with it concurrently repaying the related financing and returning to the Company its equity contribution, net of gains and losses, if any. Since the launch of the Warehouse Fund (see below), the Company's direct investments in warehouses it manages have been limited. As of both March 31, 2016 and December 31, 2015 , the Company did not consolidate any warehouses but held variable interests in 3 warehouses for which it was not deemed to be the primary beneficiary. Unconsolidated VOEs — Warehouse Fund — In December 2014, the Company launched a closed-end structured credit fund that invests primarily in equity interests of warehouses managed by CIFC (the "Warehouse Fund"). As of March 31, 2016 and December 31, 2015 , the carrying value of the Company's investment, as the general partner of the fund, was $14.7 million and $13.9 million , respectively. Co-Investment Fund — During 2013, the Company launched a closed-end structured credit fund that invests primarily in residual tranches of CLOs and, to a lesser extent, warehouses, managed by CIFC (the "Co-Investment Fund"). As of March 31, 2016 and December 31, 2015 , the carrying value of the Company's investment, as the general partner of the fund, was $11.8 million and $12.1 million , respectively. The limited partners of both the Warehouse Fund and the Co-Investment Fund may remove the general partner's presumption of control, and as such, the Company did not consolidate these funds. The Company's investments in these funds were recorded in "Investments" on the Company's Condensed Consolidated Balance Sheets. Unconsolidated VIEs— Senior Secured Corporate Loan Fund —The Company invests in and manages an open-end credit fund that invests in performing U.S. SSCLs (the "Senior Secured Corporate Loan Fund") to provide capital appreciation and risk-adjusted returns to its investors. The Company does not consolidate the Senior Secured Corporate Loan Fund. Under the consolidation rules, limited partnerships where investors lack the right to remove the general partners, are deemed VIEs, however, the Company is not deemed the primary beneficiary as it does not have a significant financial interest in the fund. As of March 31, 2016 and December 31, 2015 , the carrying value of the Company's investment was $5.5 million and $5.4 million , respectively. As of March 31, 2016 , the Company had variable interests in 26 CLOs, 8 CDOs, and 2 Non-CLO products (including the Senior Secured Corporate Loan Fund), which the Company managed, that were not consolidated (collectively the "Unconsolidated VIEs") as the Company was not deemed to be the primary beneficiary of the Unconsolidated VIEs. As of December 31, 2015 , the Company's unconsolidated VIEs included 28 CLOs, 8 CDOs and 2 Non-CLO products (including the Senior Secured Corporate Loan Fund). The Company's maximum exposure to loss on Unconsolidated VIEs includes its investment, management fee receivables and future management fees collectible by the Company. As of March 31, 2016 and December 31, 2015 the Company invested $39.5 million and $29.0 million , respectively, in Unconsolidated VIEs and the Company's management fee receivables were $4.5 million and $4.1 million , respectively.	Basis of Presentation and Principles of Consolidation Basis of Presentation —The Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP"). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Management believes that estimates utilized in the preparation of the Consolidated Financial Statements are prudent and reasonable. Actual results could differ from those estimates and such differences could be material. Certain prior year amounts in the Consolidated Financial Statements and the related notes have been re-presented to conform to current period presentation and provide additional details. These items include detailed break out of line items for Net Results of Consolidated Entities (Note 6 ), Employee compensation and benefits, share-based compensation, and General and administrative expenses on the Consolidated Statements of Operations as well as Contributions from and Distributions to noncontrolling interests on the Consolidated Statements of Cash Flows and Consolidated Statements of Equity. The Reorganization Transaction was a transaction between entities under common control, therefore, the Company included in this Form 10-K the Consolidated Financial Statements of both CIFC LLC and CIFC Corp. For the Consolidated Financial Statements of CIFC LLC, the prior year comparative Consolidated Financial Statements includes the Consolidated Balance Sheet, Statement of Operations, Comprehensive Income (Loss), Equity and Cash Flows as of and for the year ended December 31, 2014 of CIFC Corp. Principles of Consolidation —The Consolidated Financial Statements include the financial statements of CIFC and its wholly-owned subsidiaries, the entities in which the Company has a controlling interest ("Consolidated Funds") and variable interest entities ("VIEs" or "Consolidated VIEs") for which the Company is deemed to be the primary beneficiary (together with Consolidated Funds, the "Consolidated Entities"). The Company adopted the amendments of Accounting Standard Update "ASU" 2015-02, Consolidation (Topic 810) - Amendments to the Consolidation Analysis ("ASU 2015-02") (see Note 3 ). All intercompany balances and transactions have been eliminated upon consolidation. This consolidation, particularly with respect to the Consolidated Entities, significantly impacts the Company's Consolidated Financial Statements. Consolidated Entities —As a result of the Reorganization Transaction (Notes 1 & 16 ), disclosures below relate to CIFC LLC as of December 31, 2015 and 2014 and CIFC Corp. as of December 31, 2014 . Consolidated Entities includes the operating results of the Consolidated Funds and the Consolidated VIEs. As of December 31, 2015 and 2014 , the Company held $81.8 million and $62.6 million , respectively, of investments in its Consolidated Entities. Consolidated VOEs —The Company consolidates entities in which it has a controlling voting interest. As of December 31, 2015 , the Company did not consolidate any entities under the voting interest model. As of December 31, 2014, the Company had consolidated the Tactical Income Fund and the Senior Secured Corporate Loan Fund under this model. Effective January 1, 2015, pursuant to the adoption of ASU 2015-02, our consolidation assessment changed. See below & Note 3 . Consolidated VIEs —The Company also consolidates variable interest entities in which it is deemed the primary beneficiary. These Consolidated VIEs generally include certain CLOs (collectively, the "Consolidated CLOs"), warehouses, loan investment products, and other similar legal entities (see Note 3 for further details). Tactical Income Fund —The Company invests in and manages an open-end credit fund that invests primarily in second-lien loans (the "Tactical Income Fund"). Under the new rules, limited partnerships where investors lack the right to remove the general partners, are deemed VIEs. The Company is deemed the primary beneficiary as it cannot be removed as the investment manager and has a significant financial interest in the fund. As of December 31, 2015 and 2014 , the Company held an investment of $33.2 million and $11.0 million , respectively, and the limited partners held $7.8 million and $6.5 million , respectively. Limited partners' interests were reported in "Noncontrolling interests in Consolidated Funds" on the Consolidated Balance Sheet. Consolidated CLOs and Other —As of December 31, 2015 , the Company consolidated 2 CLOs and 2 credit funds (including Tactical Income Fund). As of December 31, 2014 , the Company consolidated 31 CLOs. See Note 4 . The adoption of ASU 2015-02, resulted in the deconsolidation of 30 CLOs as of January 1, 2015. Warehouses — From time to time, the Company will create special purpose vehicles ("SPVs") to warehouse SSCLs in advance of sponsoring new CLOs or other funds. The Company may contribute equity to the new SPVs which are typically levered three to five times depending on the terms agreed to with the warehousing counterparties. When the related CLO or Fund is sponsored, typically around three to nine months later, the warehouse is “terminated,” with it concurrently repaying the related financing and returning to the Company its equity contribution, net of gains and losses, if any. Since the launch of the Warehouse Fund (see below), the Company's direct investments in warehouses it manages have been limited. During the year ended December 31, 2015 , the Company consolidated and deconsolidated two warehouses. During the year ended December 31, 2014 , the Company consolidated seven warehouse(s) and deconsolidated six warehouse(s). As of December 31, 2015 , the Company did not consolidate any warehouse, and as of December 31, 2014 , the company consolidated one warehouse. Unconsolidated VOEs — Warehouse Fund — In December 2014, the Company launched a closed-end structured credit fund that invests primarily in equity interests of warehouses managed by CIFC (the "Warehouse Fund"). As of December 31, 2015 and 2014 , the carrying value of the Company's investment, as the general partner of the fund, was $13.9 million and $10.6 million , respectively. Co-Investment Fund — During 2013, the Company launched a closed-end structured credit fund that invests primarily in residual tranches of CLOs and, to a lesser extent, warehouses, managed by CIFC (the "Co-Investment Fund"). As of December 31, 2015 and 2014 , the carrying value of the Company's investment, as the general partner of the fund, was $12.1 million and $16.6 million , respectively. The limited partners of both the Warehouse Fund and the Co-Investment Fund may remove the general partner's presumption of control, and as such, the Company did not consolidate these funds. The adoption of ASU 2015-02, did not change our consolidation conclusion. The Company's investments in these funds were recorded in "Investments" on the Company's Consolidated Balance Sheets. Unconsolidated VIEs— Senior Secured Corporate Loan Fund —The Company invests in and manages an open-end credit fund that invests in U.S. performing senior secured corporate loans (the "Senior Secured Corporate Loan Fund") to provide capital appreciation and risk-adjusted returns to its investors. Pursuant to the adoption of ASU 2015-02, the Company deconsolidated this fund on a modified retroactive basis (or as of January 1, 2015). Under the new rules, limited partnerships where investors lack the right to remove the general partners, are deemed VIEs. The Company is not deemed the primary beneficiary because it does not have a significant financial interest in the fund. As of December 31, 2015 , the Company held an investment of $5.4 million in the fund which was reported in "Investments" on the Company's Consolidated Balance Sheet. As of December 31, 2014 , the Company held an investment of $5.2 million and the limited partners held an investment of $204.5 million . Limited partners' interests were reported in "Noncontrolling interests in Consolidated Funds" on the Consolidated Balance Sheet. As of December 31, 2015 , the Company had variable interests in 28 CLO, 8 CDOs, and 2 Non-CLO products (including the Senior Secured Corporate Loan Fund), which the Company managed, that were not consolidated (collectively the "Unconsolidated VIEs") as the Company was not deemed to be the primary beneficiary of the Unconsolidated VIEs. As of December 31, 2014 , the Company's unconsolidated VIEs included 1 CLO, 8 CDOs and 4 Non-CLO products. The adoption of ASU 2015-02, resulted in the deconsolidation of 30 CLOs as of January 1, 2015. The Company's maximum exposure to loss on Unconsolidated VIEs includes its investment, management fee receivables and future management fees collectible by the Company. As of December 31, 2015 , the Company invested $29.0 million in Unconsolidated VIEs and the Company's management fee receivables were $4.1 million . As of December 31, 2014 , the Company had no investments in its Unconsolidated VIEs and the Company's management fee receivables were $0.3 million .

SUMMARY OF SIGNIFICANT ACCOUN71

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING UPDATES	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Summary of Significant Accounting Policies and Recent Accounting Updates As of March 31, 2016 , the Company's significant accounting policies, which are detailed in the 2015 Annual Report have not changed. Recent Accounting Updates In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718) ("ASU 2016-09") , which is intended to simplify several aspects of the accounting for share-based payment award transactions. Specifically, ASU 2016-09 aims to simplify the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The guidance will be effective for fiscal years beginning after December 15, 2016, including interim periods within that year. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) ("ASU 2016-02") , to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of 12 months) on the balance sheet as a lease liability and a right-of-use asset (as defined). ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with earlier application permitted. Upon adoption, the lessee will apply the new standard retrospectively to all periods presented or retrospectively using a cumulative effect adjustment in the year of adoption. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606), Deferral of the Effective Date ("ASU 2015-14") . The ASU amends the effective date of ASU 2014-09 for all entities by one year. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09") , which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The standard clarifies the required factors that an entity must consider when recognizing revenue and also requires additional disclosures. With the issuance of ASU 2015-14 the new effective date for the Company is January 1, 2018. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15") . The guidance will explicitly require management to assess an entity's ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. The new standard will be effective in the first annual period ending after December 15, 2016. Earlier adoption is permitted. The Company does not believe this guidance will have a material impact on its Consolidated Financial Statements.	Summary of Significant Accounting Policies and Recent Accounting Updates Consolidation — VIEs —In February 2015, the Financial Accounting Standards Board ("FASB") issued ASU 2015-02. The amendments changed the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. As of September 30, 2015, the Company elected to early adopt this guidance on a modified retroactive basis (as of January 1, 2015) (see below). Under the consolidation guidelines, the Company evaluates whether (a) it holds a variable interest in an entity, (b) the entity is a variable interest entity ("VIE") and (c) the Company is the primary beneficiary ("PB") of the VIE. An entity is a VIE if it meets any of the following criteria: total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated support; holders of equity investment at risk (as a group) lack the power to direct the activities of the entity that significantly impact economic performance or the obligation to absorb losses or right to receive residual returns of the entity; and voting rights of some investors are disproportionate to their obligation to absorb losses/receive returns and substantially all of the activities are on behalf of the investor with disproportionately few voting rights. Further a reporting entity is deemed to be the PB if (i) it has the power to direct the activities of the entity that most significantly impact the economic performance ("power criteria") and (ii) it holds a controlling financial interest ("economic criteria"). Generally, the Company determines whether it is the PB of a VIE through a qualitative assessment; however, when deemed necessary, a quantitative assessment may also be performed. This consolidation assessment is performed upon inception of the relationship and reconsidered when certain events have occurred. Prior to the adoption of ASU 2015-02, incentive or performance fees received by the Company for its investment management services were considered variable interests. Pursuant to the adoption of ASU 2015-02, incentive or performance fees that are customary and commensurate of the level of services provided, and where the Company does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, would not be considered variable interests. As such, certain CLOs, CDOs and warehouses, where the Company held direct interests or indirect interests through related parties, were considered variable interests and a consolidation analysis was performed. Further, CLOs, CDOs and warehouses generally meet the VIE criteria as they have minimal equity at risk. For CLOs, the Company's investment management services meet the power criteria of the PB consideration. In certain cases, when it was determined that the Company's investment in the CLO was significant, the Company met the economic criteria and consolidated the CLO. To determine significance, the Company evaluated its right to receive and obligation to absorb the VIE's expected future gains and losses. The expected future gains and losses of the VIE are determined based on an internally developed discounted cash flows model that utilizes both observable and unobservable inputs. Significant inputs to the models include the structure of the VIE and estimates related to loan default rates, recovery rates, projected call dates, prepayment rates and discount rates. As of December 31, 2015 and January 1, 2015 (adoption date), the Company consolidated 2 and 1 CLO(s), respectively, for which it was deemed to be the PB. For warehouses, where the Company's investment management services meet the power criteria and where the Company contributes significant equity to a warehouse, the Company may meet both the power and economic criterion and consolidate the warehouse. As of December 31, 2015 , the Company did not consolidate any warehouses and as of January 1, 2015 (adoption date), the Company consolidated 1 warehouse. However, during the twelve months ended December 31, 2015 , the Company consolidated 2 warehouses which were opened and closed during the reporting period. Upon adoption of the new consolidation rules, the granting of substantive kick-out rights is a key consideration in determining whether a limited partnership, or similar entity, is a VIE and whether or not that entity should be consolidated. Consequently, the adoption of ASU 2015-02, resulted in the deconsolidation of the Senior Secured Corporate Loan Fund (see Note 2 ). Entities that do not qualify as VIEs are generally assessed for consolidation as voting interest entities under the voting interest model (see below). Performance of these consolidation assessments requires the exercise of judgment. Consolidation — VOEs —The Company consolidates all entities that it controls through a majority voting interest (or "VOE"). Appropriated Retained Earnings (Deficit) of Consolidated VIEs— Prior to the adoption of ASU 2014-13 (see below), appropriated retained earnings (deficit) of Consolidated VIEs represented the excess fair value of the Consolidated CLO or CDOs' assets over the Consolidated CLO or CDOs' liabilities upon initial consolidation and was subsequently adjusted each reporting period for the net income (loss) attributable to the Consolidated VIEs. Non-Controlling Interests in Consolidated Funds— “Noncontrolling interests in Consolidated Funds” represents the component of equity in Consolidated Funds held by third party investors. During each reporting period, these interests are adjusted by the third party's performance allocation and additional subscriptions or redemptions as permitted by the applicable governing agreement(s). The third party’s performance is reported in “Net (income) loss attributable to noncontrolling interests in Consolidated Entities.” Business Combinations —Upon the acquisition of a business, the Company records all assets acquired and liabilities assumed at their estimated fair values, including intangible assets and goodwill. Strategic transaction related costs are expensed as incurred. Intangible Assets —The Company's intangible assets consist primarily of contractual rights to earn future management fees from CLOs. The Company determined that all intangible assets held are comprised of assets with finite lives and are amortized on a straight line basis or based on a ratio of expected discounted cash flows of the contracts. Intangible assets with finite lives are tested for impairment if events or changes in circumstances indicate that the assets may not be recoverable. If the Company determines the carrying value of an intangible asset is not recoverable it will record an impairment charge to the extent its carrying value exceeds its estimated fair value. Impairments of intangible assets are recorded in "Impairment of intangible assets" on the Consolidated Statements of Operations. See Note 9 for further details. Goodwill —The excess of the cost of an acquired entity over the net of the amounts assigned to assets acquired (including identifiable intangible assets) and liabilities assumed is recorded as goodwill. Goodwill represents the excess cost of a business acquisition over the fair value of the net assets acquired and is not amortized. Goodwill has been recognized as a result of strategic mergers and acquisitions. The Company reviews goodwill periodically, at least on an annual basis on November 30th of each year, to determine whether the carrying value of goodwill is impaired. If goodwill is deemed to be impaired, the difference between the carrying amount reflected in the Consolidated Financial Statements and the estimated fair value is recognized as an expense in the period in which the impairment occurs. The Company has one reporting unit for which goodwill is tested for impairment. See Note 9 for further details. Contingent Consideration and Contingent Liabilities —Contingent consideration and contingent liabilities assumed in business combinations are recorded at fair value and measured at fair value at each reporting date with changes in fair value recorded within "Net gain (loss) on contingent liabilities" on the Consolidated Statements of Operations. See Note 10 for further details. Fair Value Measurements and Presentation —The Company categorizes its financial instruments carried at fair value into a three-level fair value hierarchy based on the transparency of the inputs to the valuation of the asset or liability as of the measurement date. A financial instrument’s categorization within the valuation hierarchy is determined by the lowest level of input that is significant to the fair value measurement. The assessment of significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. The three levels are defined as follows: • Level 1 —inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Financial instruments included in Level 1 are generally equity securities or derivatives listed on an exchange with active markets. The Company held no Level 1 financial instruments during the periods presented. • Level 2 —inputs to the valuation methodology include quoted prices for similar financial instruments in active markets, quoted prices for identical financial instruments in inactive markets, and inputs that are observable for the financial instrument, either directly or indirectly, for substantially the full term of the financial instrument. The Company's financial instruments generally included in this category are loans where asset valuations are provided by third-party pricing services (loan valuations provided by third-party pricing services based on a composite price determined using fewer than two quotes are classified as Level 3), corporate bonds and investments in CLOs and CDOs where asset valuations are provided by third-party pricing services, and total return swaps on warehouses. • Level 3 —inputs to the valuation methodology include significant unobservable inputs to the fair value measurement. This includes situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. The Company's financial instruments generally included in this category are corporate bonds, investments in CLOs, CDOs and loans where valuations are provided by third-party pricing services based on a composite price determined using fewer than two quotes, loans where asset valuations are not provided by third-party pricing services and whose fair value is determined using the Company's comparable companies pricing model or other pricing models, warrants, long-term debt of the Consolidated CLOs (including the subordinated notes). Long-term debt of the Consolidated VIEs is no longer measured using a third-party pricing service due to the adoption of ASU 2014-13 effective January 1, 2015 (see below). Determination of Fair Values —Fair value is the price a market participant would receive in the sale of an asset, or pay to transfer a liability, in an orderly transaction at the measurement date. Where available, fair value is based on observable market prices or parameters or is derived from such prices or parameters. Where observable prices or inputs are not available, valuation models are utilized. These valuation models involve estimation and judgment, the degree of which is dependent on both the price transparency for the instruments or market and the instruments’ complexity. Assets and liabilities recorded at fair value in the Consolidated Financial Statements are categorized for disclosure purposes based on the level of judgment associated with the inputs used to measure their value as described above. Transfers between levels of the fair value hierarchy are recognized at the end of the reporting period. Many financial instruments have bid and ask prices that can be observed in the marketplace. Bid prices reflect the highest price that market participants are willing to pay for an asset. Ask prices represent the lowest price market participants are willing to accept for an asset. For financial instruments whose inputs are based on bid-ask prices, the Company's policy is to take the mid-point in the bid-ask spread to value these financial instruments as a practical expedient for determining fair value permissible under the guidance. Fair value is a market-based measure considered from the perspective of the market participant who holds the asset or owes the liability rather than an entity-specific measure. Therefore, when market assumptions are not readily available, assumptions are set to reflect those that the Company believes market participants would use in pricing the financial instrument at the measurement date. The availability of observable inputs can vary depending on the financial instrument and is affected by a variety of factors, including, for example, the type of product, age of the product, whether the product is traded on an active exchange or in the secondary market and, current market conditions. Determinations of fair value require more judgment to the extent that the valuation is based on inputs that are either less observable or unobservable in the market. Accordingly, the degree of judgment exercised in determining fair value is greatest for financial instruments classified as Level 3. The fair value process is monitored by the Valuation Committee. The Valuation Committee is chaired by the Co-President and the Chief Investment Officer and is comprised of investment, finance, and portfolio control professionals. The purpose of the committee is to oversee the pricing policy and procedures by ensuring objective and reliable valuation practices and pricing of financial instruments, as well as addressing fair valuation issues and approving changes to valuation methodologies and pricing sources. Meetings are held at least quarterly to discuss and analyze the significant assumptions utilized in the Company's internally developed models and to review the valuations provided by third-party pricing services for reasonableness. The Company engages reputable third-party pricing services and regularly reviews the valuation methodologies provided by those third-party pricing services to ensure the fair value measurement provided by those services. Fair Value Option —The Company has elected the fair value option for (i) its investments in the CLO, warehouses and credit funds it manages and (ii) the financial assets and the financial liabilities of the Consolidated Entities. For investments in CLO, warehouse and credit funds where the Company is not required to consolidate, the unrealized appreciation or depreciation and realized gains and losses on the investments are recorded in the Consolidated Statements of Operations within "Net gain (loss) on investments." For Consolidated Entities, prior to the adoption of ASU 2014-13, the measurement difference between the fair value of the financial assets and the fair value of the financial liabilities resulted in net gains (losses) that were reported in the Company's consolidated operating results. Unrealized appreciation or depreciation and realized gains and losses on assets and liabilities of Consolidated VIEs were recorded in the Consolidated Statements of Operations within "Net gain (loss) on Investments-Consolidated Entities" and "Net gain (loss) on Liabilities-Consolidated Entities." The adoption of the new measurement guidance eliminated the non-economic measurement differences and the associated income volatility. Financial Instruments held by Consolidated VIEs —Prior to the adoption of ASU 2014-13 (as defined below), the Company elected the fair value option for the consolidated assets and liabilities of the CLOs and warehouses. These assets are considered trading securities and therefore are not held at amortized cost. Accordingly, the measurement difference between the fair value of the financial assets and the fair value of the financial liabilities resulted in net gains (losses) that were reported in the Company's Consolidated Statements of Operations within "Net gain (loss) on Investments-Consolidated Entities" and "Net gain (loss) on Liabilities-Consolidated Entities." Upon adoption of ASU 2014-13, the Company has elected to use the measurement alternative for measuring financial assets and financial liabilities of the Company's CLOs and warehouses. The Company determined that financial assets of its CLOs and warehouses are generally more observable. The assets underlying the Company's managed CLOs and warehouses are SSCLs which are generally traded on an active over-the-counter system where generally multiple broker quotes can be obtained at the measurement date. The CLO debt market is also actively traded; however, quotations are available on a limited scale in comparison to the financial assets. Further, there is no active market for warehouse debt. As a result, the financial assets of the consolidated CLOs and warehouses are measured at fair value and the financial liabilities are measured in consolidation as: (1) the sum of the fair value of the financial assets and the carrying value of any non-financial assets that are incidental to the operations of the CLOs less (2) the sum of the fair value of any beneficial interests retained by the reporting entity (other than those that represent compensation for services) and the Company’s carrying value of any beneficial interests that represent compensation for services. The resulting amount is allocated to the individual financial liabilities (other than the beneficial interest retained by the Company). ASU 2014-13 was applied on a modified retroactive basis (as of January 1, 2015) (see below). Under the measurement alternative, the Company’s Consolidated Statement of Operations reflects the Company’s economic interests in the consolidated CLOs and warehouses including (i) changes in the fair value of the beneficial interests retained by the Company and (ii) beneficial interests that represent compensation for its investment management services. Revenue Recognition — Management and Incentive Fees —The Company earns management and incentive fees from the Funds it manages. These management fees are paid periodically in accordance with the terms of the individual management agreements for as long as the Company manages the Funds. The management fees paid to the Company by these Funds are the Company's primary source of revenue. Management fees typically consist of fees based on the amount of assets held in the Funds. Management fees are recognized as revenue when earned. The Company does not recognize incentive fees until all contingencies have been removed. Revenue Recognition — Interest Income from Investments —From time to time, the Company will invest in investment products it manages. “Interest income from investments” includes interest revenue from these investments and a portion of equity distributions earned from the Company’s investment in the residual interests of CLOs. For the CLOs and warehouses that the Company does not consolidate, interest income is recognized using the effective interest method and reported in "Interest income from investments" on the Condensed Consolidated Statement of Operations. Interest income on consolidated CLOs/warehouses is reported on the Condensed Consolidated Statements of Operations in "Interest income-Consolidated Entities" (Note 6 ). Consolidated Entities’ Assets — Receivables/Revenues —Interest income is accrued regularly on the SSCLs held by the Consolidated Entities. The Company has elected to account for all assets of the Consolidated Entities under the fair value option. At the end of each reporting period, past due or non-accrual status receivables (interest only) are written-off or adjusted in the fair value of the respective fund. Long-Term Debt — Pursuant to the adoption of ASU 2015-03 (see below), the Company's Junior Subordinated and Senior Notes are recorded net of debt issuance costs. Debt issuance costs will amortize on a straight line basis as interest expense over the life of the debt. The Convertible Notes were recorded at a discount, which were being amortized as interest expense over the life of the debt. The Convertible Notes were converted during 2014 . Consolidated Entities’ Long-Term Debt —Subordinated notes of the Consolidated Entities have certain characteristics of equity and are recorded as debt on the Consolidated Balance Sheets as they have stated maturities. The maturities indicate a date on which they are mandatorily redeemable and redemption is required only upon liquidation or termination of the CLO and not upon liquidation or termination of the Company. Interest expense of Consolidated Entities is recorded in "Interest Expense - Consolidated Entities" on the Consolidated Statements of Operations. Cash and Cash Equivalents —Cash and cash equivalents include cash on hand, cash held in banks and liquid investments with original maturities of 90 days or less. Restricted Cash and Cash Equivalents —Restricted cash and cash equivalents represent amounts held by third parties for settlement of certain obligations and cash, subject to certain restrictions, held in non-recourse entities (including Consolidated Entities). Due from Brokers and Due to Brokers —Amounts due from brokers and due to brokers generally represent unsettled trades. Amounts due from brokers and due to brokers are recorded as assets and liabilities, respectively. Equipment and Improvements —Equipment and Improvements are stated at cost, net of accumulated depreciation. Depreciation is generally recorded using the straight-line method over the estimated useful lives of the various classes of equipment. Leasehold improvements are amortized over the shorter of their estimated useful lives or the remaining life of the lease using the straight-line method. The Company does not consider renewal options when determining the amortization of leasehold improvements unless renewal is considered reasonably assured at the inception of the lease. Equipment and Improvements are periodically reviewed for indications of impairment and written down to fair value if impaired. Income Taxes —Current federal income taxes are recognized based on amounts estimated to be payable or recoverable as a result of taxable income for the current year. Deferred tax assets and liabilities are recognized for the future income tax consequences (temporary differences) attributable to the difference between the carrying amounts of assets and liabilities and their respective income tax bases. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which temporary differences are expected to be recovered or settled. The Company recognizes the effect of changes in income tax laws or rates on deferred tax assets and liabilities in the period that includes the enactment date. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets to the amount that is more likely than not to be realized. Components of deferred tax assets, liabilities and valuation allowance are included in Note 15 . GAAP provides guidelines for how uncertain tax positions should be recognized, measured, presented and disclosed in the Consolidated Financial Statements. Uncertain tax positions disclosure, if any, are included in Note 15 . The Company accrues interest and penalties, if applicable, in income tax expense. Tax years that remain open to examination by major tax jurisdictions include 2011 through the current year. Share-Based Compensation —Compensation cost for share-based awards are generally measured based on the grant-date fair value of the award. Share-based awards that do not require future service (i.e. vested awards) are expensed immediately. Share-based awards that require future service or performance conditions are amortized over the relevant service period. The Company communicates "target awards" at the beginning of the performance period and the final payouts are determined when performance criterion are met at the end of the performance period. Amortization is recognized as "Share-based compensation" in the Consolidated Statements of Operations. See Note 12 for the required disclosure relating to share-based compensation. Earnings Per Share —Basic earnings per share is calculated by dividing net income (loss) attributable to the Company by the weighted-average number of shares outstanding for the period. Diluted earnings per share adjusts basic earnings per share by the dilution that would have occurred had all contingent issuances of shares that would have individually reduced earnings per share occurred at either the beginning of the period or the time of issuance of the potentially dilutive securities, if those securities were issued during the period. The Company uses the treasury stock method to determine the dilutive effect of stock options, warrants and unvested restricted stock units ("RSUs") and the if-converted method to determine the dilutive effects of the Convertible Notes. During 2014, the Convertible Notes were converted. See Note 14 for the computation of earnings per share. Recent Accounting Updates Adopted Guidance: In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest (Topic 835-30), Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”), which requires debt issuance costs to be presented on the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. The standard does not affect the recognition and measurement of debt issuance costs. The standard is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. The new guidance will be applied on a retrospective basis. The Company early adopted ASU 2015-03 and presented debt issuance costs related to its recourse debt as a direct deduction on the carrying value of the associated debt liability. As part of the retroactive adoption, as of December 31, 2014, the Company reclassified $1.8 million of Junior Subordinated Note debt issuance costs from Prepaid and other assets to a contra liability account as a direct deduction of the net carrying value of Long-term debt (Note 11 ). In May 2015, the FASB issued ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (“ASU 2015-07”). Under the guidance, investments measured at net asset value (“NAV”), as a practical expedient for fair value, are excluded from the fair value hierarchy. Instead, an entity is required to include those investments as a reconciling line item so that the total fair value amount of investments in the disclosure is consistent with the amount on the balance sheet. Further, entities must provide additional disclosures for investments for which they elect to use the NAV practical expedient to determine fair value. This guidance is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years and early adoption is permitted. The ASU should be applied retrospectively to all periods presented. The Company early adopted ASU 2015-07 and excluded from the fair value hierarchy table investments in its unconsolidated credit funds that are measured at NAV as a practical expedient as of December 31, 2015 and 2014 (Note 5 ). In February 2015, the FASB issued ASU 2015-02. The guidance amends the current consolidation guidance and ends the deferral granted to investment companies from applying the VIE guidance. The revised consolidation guidance, among other things, (i) modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or VOEs, (ii) eliminated the presumption that a general partner should consolidate a limited partnership, and (iii) modifies the consolidation analysis of reporting entities that are involved with VIEs through fee arrangements and related party relationships. The standard is effective for the Company beginning on January 1, 2016, however, early adoption is allowed. The Company early adopted ASU 2015-02 on a modified retroactive basis. Upon adoption, as of January 1, 2015, the Company deconsolidated 30 CLOs and the Senior Secured Corporate Loan Fund from its Consolidated Financial Statements. As of January 1, 2015, the Company made a non-cash adjustment to deconsolidate Consolidated Entities' assets of $12.6 billion and Consolidated Entities' liabilities of $12.3 billion . This resulted in a cumulative effect adjustment of $127.9 million to beginning "Appropriated retained earnings (deficit) of Consolidated VIEs" and $204.4 million to beginning "Noncontrolling interests in Consolidated Funds". The Company's investment in unconsolidated CLOs and the Senior Secured Corporate Loan fund have been reported in "Investments" on the Consolidated Balance Sheet as of December 31, 2015 . The Consolidated Financial Statements reflect the impact of this adoption as of January 1, 2015. In August 2014, the FASB issued ASU 2014-13, Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity (a consensus of the FASB Emerging Issues Task Force) (“ASU 2014-13”) which provides guidance on measuring the financial assets and financial liabilities of a consolidated collateralized financing entity (“CFE”), such as CLOs and warehouses. Entities may make an election to measure the CFE on the basis of either the fair value of the CFE’s financial assets or financial liabilities, whichever is deemed more observable. This will eliminate the non-economic measurement differences between financial assets and financial liabilities and the associated income volatility. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 for public companies and early adoption is permitted. The adoption can be applied on a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the annual period of adoption or retrospectively to all relevant prior periods. In conjunction with the adoption of ASU 2015-02 (see above and Note 2 ), the Company has also elected to early adopt ASU 2014-13 on a modified retroactive basis. As of January 1, 2015, ASU 2014-13 was applied to the consolidated CLOs (Note 2 ). This resulted in a cumulative effect adjustment of $6.9 million to beginning "Appropriated retained earnings (deficit) of Consolidated VIEs". Guidance not yet adopted: In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606), Deferral of the Effective Date . The ASU amends the effective date of ASU 2014-09 for all entities by one year. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The standard clarifies the required factors that an entity must consider when recognizing revenue and also requires additional disclosures. With the issuance of ASU 2014-15 the new effective date for the Company is beginning January 1, 2018. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern . The guidance will explicitly require management to assess an entity's ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. The new standard will be effective in the first annual period ending after December 15, 2016. Earlier adoption is permitted. The Company does not believe this guidance will have a material

CONSOLIDATED VIEs (Notes)72

CONSOLIDATED VIEs (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Consolidated Variable Interest Entities
Consolidated VIEs	Consolidated VIEs Although the Company consolidates all the assets and liabilities of the Consolidated VIEs (including the Consolidated CLOs, warehouses and other investment products), its maximum exposure to loss is limited to its investments and beneficial interests in the Consolidated VIEs and the receivables of management fees from the Consolidated VIEs. All of these items are eliminated upon consolidation. The assets of each of the Consolidated VIEs are administered by the trustee of each fund solely as collateral to satisfy the obligations of the Consolidated VIEs. If the Company were to liquidate, the assets of the Consolidated VIEs would not be available to the Company's general creditors, and, as a result, the Company does not consider them its assets. Additionally, the investors in the debt and residual interests of the Consolidated VIEs have no recourse to the Company's general assets. Therefore, this debt is not the Company's obligation. The following table summarizes the Company's total maximum exposure to loss on these Consolidated VIEs, as follows (1): March 31, 2016 December 31, 2015 (In thousands) Maximum exposure to loss: Investments and beneficial interests (2) $ 81,944 $ 81,752 Receivables 394 605 Total maximum exposure to loss $ 82,338 $ 82,357 Explanatory Notes: ________________________________ (1) In addition, exposure to loss includes future management fees on the Consolidated VIEs, which are not included in the table. (2) Investments made in our Consolidated VIEs are eliminated in consolidation.	Consolidated VIEs Although the Company consolidates all the assets and liabilities of the Consolidated VIEs (including the Consolidated CLOs, warehouses and other investment products), its maximum exposure to loss is limited to its investments and beneficial interests in the Consolidated VIEs and the receivables of management fees from the Consolidated VIEs. All of these items are eliminated upon consolidation. The assets of each of the Consolidated VIEs are administered by the trustee of each fund solely as collateral to satisfy the obligations of the Consolidated VIEs. If the Company were to liquidate, the assets of the Consolidated VIEs would not be available to the Company's general creditors, and as a result, the Company does not consider them its assets. Additionally, the investors in the debt and residual interests of the Consolidated VIEs have no recourse to the Company's general assets. Therefore, this debt is not the Company's obligation. The following table summarizes the Company's total maximum exposure to loss on these Consolidated VIEs, as follows (1): CIFC LLC CIFC Corp. CIFC LLC & CIFC Corp. December 31, 2015 December 31, 2014 (In thousands) Maximum exposure to loss: Investments and beneficial interests (2) $ 81,752 $ — $ 46,651 Receivables 605 — 4,200 Total maximum exposure to loss $ 82,357 $ — $ 50,851 Explanatory Notes: ________________________________ (1) In addition, exposure to loss excludes future management fees on the Consolidated VIEs, which are not included in the table. (2) Investments made in our Consolidated VIEs are eliminated in consolidation.

FAIR VALUE73

FAIR VALUE	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	Fair Value Assets and Liabilities Measured at Fair Value on a Recurring Basis Fair Value Hierarchy — The following table summarizes the assets and liabilities carried at fair value on a recurring basis, by class and level: March 31, 2016 December 31, 2015 Level 1 Level 2 Level 3 NAV Estimated Fair Value Level 1 Level 2 Level 3 NAV Estimated Fair Value (In thousands) (In thousands) Assets Investments: Credit Funds $ — $ — $ — $ 31,977 $ 31,977 $ — $ — $ — $ 31,411 $ 31,411 Structured products & other — 1,558 43,812 — 45,370 — 1,768 37,517 — 39,285 Subtotal — 1,558 43,812 31,977 77,347 — 1,768 37,517 31,411 70,696 Consolidated Entities: Loans (1) — 1,052,484 292,559 — 1,345,043 — 1,067,539 281,868 — 1,349,407 Structured products & other — 802 1,118 — 1,920 — 840 1,156 — 1,996 Total Consolidated Entities — 1,053,286 293,677 — 1,346,963 — 1,068,379 283,024 — 1,351,403 Total Assets $ — $ 1,054,844 $ 337,489 $ 31,977 $ 1,424,310 $ — $ 1,070,147 $ 320,541 $ 31,411 $ 1,422,099 Liabilities Contingent liabilities $ — $ — $ 8,142 $ — $ 8,142 $ — $ — $ 8,338 $ — $ 8,338 Total Liabilities $ — $ — $ 8,142 $ — $ 8,142 $ — $ — $ 8,338 $ — $ 8,338 Explanatory Note: ______________________________ (1) As of both March 31, 2016 and December 31, 2015 , the total aggregate unpaid principal balance of loans was $1.4 billion .See Note 9 for total contractual principal amounts. Changes in Level 3 Recurring Fair Value Measurements — The following tables summarize by class the changes in financial assets and liabilities measured at fair value classified within Level 3 of the valuation hierarchy. Net realized and unrealized gains (losses) for Level 3 financial assets and liabilities measured at fair value are included in the Consolidated Statements of Operations. Level 3 Financial Assets For the Three Months Ended March 31, 2016 Investments Investment Assets of Consolidated Entities Structured Products & Other Total Loans Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 37,517 $ 37,517 $ 281,868 $ 1,156 $ 283,024 Transfers into Level 3 (1) — — 95,421 — 95,421 Transfers out of Level 3 (2) — — (84,551 ) — (84,551 ) Net realized/unrealized gains (losses) (3) (1,307 ) (1,307 ) (933 ) (38 ) (971 ) Purchases (3) 15,721 15,721 24,480 — 24,480 Sales (3) (8,000 ) (8,000 ) (9,899 ) — (9,899 ) Settlements (3) (119 ) (119 ) (13,827 ) — (13,827 ) Estimated fair value, end of period $ 43,812 $ 43,812 $ 292,559 $ 1,118 $ 293,677 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ (213 ) $ (213 ) $ (1,967 ) $ (38 ) $ (2,005 ) Level 3 Financial Assets For the Three Months Ended March 31, 2015 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Transfers into Level 3 (1) — — — 2,327 — — 2,327 Transfers out of Level 3 (2) (3) — — — (8,477 ) — — (8,477 ) Transfers in (out) due to deconsolidation (2)(3) — 23,614 23,614 (2,476,625 ) (478 ) (67,383 ) (2,544,486 ) Net realized/unrealized gains (losses) (3) — (197 ) (197 ) 497 — (101 ) 396 Purchases (3) — 7,138 7,138 26,643 — 2,188 28,831 Sales (3) — (5,296 ) (5,296 ) (11,336 ) — — (11,336 ) Settlements (3) — — — (5,933 ) — — (5,933 ) Estimated fair value, end of period $ 967 $ 32,863 $ 33,830 $ 44,983 $ — $ 4,677 $ 49,660 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ — $ 3 $ 3 $ 82 $ — $ (101 ) $ (19 ) Explanatory Notes: ______________________________ (1) Transfers in represent loans currently valued by a third-party pricing service using composite prices determined using less than two quotes, an internally developed pricing model or broker quotes and that were previously marked by a third-party pricing service using composite prices determined from two or more quotes. (2) Transfers out represent loans previously valued by an internally developed pricing model, broker quotes, or a third-party pricing service using composite prices determined using less than two quotes and are now being marked by a third-party pricing service using composite prices determined from two or more quotes. (3) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out, net realized/unrealized gains (losses), purchases, sales and settlements for the three months ended March 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Level 3 Financial Liabilities For the Three Months Ended March 31, 2016 For the Three Months Ended March 31, 2015 Contingent Liabilities Total Contingent Liabilities Long-term Debt of Consolidated Entities Total (In thousands) Estimated fair value, beginning of period $ 8,338 $ 8,338 $ 12,668 $ 12,049,034 $ 12,061,702 Transfer in due to consolidation (2)(3) — — — (12,049,034 ) (12,049,034 ) Net realized/unrealized (gains) losses (2) 364 364 713 — 713 Settlements (2)(4) (560 ) (560 ) (1,558 ) — (1,558 ) Estimated fair value, end of period $ 8,142 $ 8,142 $ 11,823 $ — $ 11,823 Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period $ 364 $ 364 $ 713 $ — $ 713 Explanatory Notes: __________________________ (1) Represents the Company's sales of its residual interests in the Consolidated CLOs. The sale removes the requirement to consolidate the CLOs, therefore, debt and/or subordinated notes of the CLOs are no longer eliminated in consolidation. (2) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out, net realized/unrealized gains (losses), purchases, sales and settlements for the three months ended March 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. (3) Pursuant to the adoption of ASU 2014-13, the Long-term Debt of Consolidated Entities have been remeasured in accordance with the new guidance. (4) For Contingent Liabilities, amount represents payments made and due related to the contingent liabilities from the merger with Legacy CIFC (Note 8 ). Fair Value Methodologies of Financial Instruments The following is a description of the Company's valuation methodologies for financial instruments measured at fair value by class as required by ASC Topic 820, including the general classification of such instruments pursuant to the valuation hierarchy. Credit Funds —Amounts include the Company's investment in unconsolidated credit funds where the Company co-invests with third-party investors. The fair value of investments in credit funds are generally determined based on the Company's proportionate share of the net asset value ("NAV") of the fund. Investors in the Company’s open-ended credit funds may redeem their interests, at any time, within 30 days after notice. Investors in the Company’s closed-end credit funds generally cannot redeem. The Company estimates that closed-end funds are expected to liquidate over 2 to 5 years. The Company has no unfunded commitments in its open-ended and closed-end credit funds. The Company's investments in credit funds have been excluded from the fair value hierarchy table. Loans —Loans are generally valued via a third-party pricing service. The value represents a composite of the mid-point in the bid-ask spread of broker quotes or is based on the composite price of a different tranche of the same or similar security if broker quotes are unavailable for the specific tranche the Company owns. The third-party pricing service provides the number of quotes used in determining the composite price, a factor that the Company uses in determining the observability level of the inputs to the composite price. When the fair value of the loan investments is based on a composite price determined using two or more quotes the composite price is considered to be based on significant observable inputs and classified as Level 2 within the fair value hierarchy. When the fair value of certain loan investments is based on a composite price determined using less than two quotes, the composite price is considered to be based on significant unobservable inputs. In these instances, the Company performs certain procedures on a sample basis to determine that composite prices approximate fair market value. Alternative methodologies are used to value the loans such as a comparable company pricing model (an internally developed model using composite or other observable comparable market inputs) or an internally developed model using data including unobservable market inputs. Accordingly, loans valued using alternative methodologies are classified as Level 3 within the fair value hierarchy. Structured Products & Other —Structured Products and Other primarily represents the fair value of investments in CIFC and third-party managed CLOs and warehouses. These assets are generally valued via a third-party pricing service. The inputs to the valuation include recent trade information, discount rates, forward yield curves, and loan level information (including loan loss, recovery and default rates, prepayment speeds and other security specific information obtained from the trustee and other service providers related to the product being valued). Although the inputs used in the third-party pricing service's valuation model are generally obtained from active markets, the third-party pricing service does not provide a detailed analysis for each security valued. The Company performs certain procedures on a sample basis to determine that prices approximate fair market value. When a value from a third-party pricing service is unavailable, the value may be based on an internally developed discounted cash flow model which includes unobservable market inputs or by broker quote. Inputs to the internally developed model include the structure of the product being valued, estimates related to loan default, recovery and discount rates. Accordingly these assets are classified as Level 3 within the fair value hierarchy. In addition, included in Structured Products and Other are (i) equity securities not listed for trading on a national exchange ("Non-listed Equity Securities") received on certain loan restructurings within our portfolio and (ii) on occasion, warehouse total return swaps ("TRS," Note 6 ). Similar to the fair value of loans, Non-listed Equity Securities are valued using a third-party pricing service. When the fair value of a Non-listed Equity Security is determined using two or more quotes, it is classified as Level 2 within the fair value hierarchy, and when the fair value is determined using less than two quotes, it is classified as Level 3 within the fair value hierarchy. The fair value of a warehouse TRS is calculated as the sum of (i) the change in fair value of the reference obligations (SSCLs are valued at a composite of the mid-point in the bid-ask spread of broker quotes) since they became reference obligations, (ii) net realized gains (losses) on reference obligations sold during the period and (iii) interest income earned on the reference obligations, less an amount equal to LIBOR plus an agreed upon margin on the outstanding notional amount of the reference obligations. The warehouse TRS values are classified as Level 2 within the fair value hierarchy. Contingent Liabilities —The fair value of contingent liabilities is based on a discounted cash flow model. The model is based on projections of the relevant future management fee cash flows and utilizes both observable and unobservable inputs in the determination of fair value. Significant inputs to the valuation model include the structure of the underlying CLO and estimates related to loan default, recovery and discount rates. Contingent liabilities are classified as Level 3 within the fair value hierarchy. Long-Term Debt of the Consolidated CLOs & Warehouses —Long-term debt of the Consolidated CLOs and warehouses consists of debt and subordinated notes of the Consolidated CLOs and warehouses. Financial liabilities are measured as: (1) the sum of the fair value of the financial assets and the carrying value of any non-financial assets that are incidental to the operations of the CLOs less (2) the sum of the fair value of any beneficial interests retained by the reporting entity (other than those that represent compensation for services) and the Company’s carrying value of any beneficial interests that represent compensation for services. Quantitative Information about Level 3 Assets & Liabilities The disclosure provided below provides quantitative information about the significant unobservable inputs used in the valuation of the contingent liabilities of Legacy CLOs (see Note 9 ). March 31, 2016 March 31, 2016 December 31, 2015 Impact of Increase in Input on Fair Value Financial Liabilities Fair Value (in thousands) Valuation Technique Significant Unobservable Input Range Range Contingent Liabilities $ 8,142 Discounted cash flows Discount rate (2) 8.1%-13.0% 6.7%-12.0% Decrease Default rate (3) 2.0% 2.0% Decrease Recovery rate (3) 70% 70% Increase Pre-payment rate (3) 25% 40% Decrease Reinvestment spread of assets above LIBOR 3.3%-4.0% 3.0-3.8% Increase Reinvestment price of assets 100.0 100.0 Increase Explanatory Notes: ____________________________ (1) The impact of a decrease in input would have the opposite impact to the fair value as that presented in the table. (2) The discount rate varies by type of management fee (senior management fee, subordinated management fee, or incentive fee), the priority of that management fee in the waterfall of the CLO and the relative risk associated with the respective management fee cash flow projections. Amounts are presented as a spread over LIBOR . (3) Generally an increase in the default rate would be accompanied by a directionally opposite change in assumption for the recovery and pre-payment rates. Carrying Value and Estimated Fair Value of Financial Assets and Liabilities The Company has not elected the fair value option for certain financial liabilities. A summary of the carrying value and estimated fair value of those liabilities are as follows: As of March 31, 2016 As of December 31, 2015 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value (In thousands) Financial liabilities: Long-term debt: Junior Subordinated Notes (1) $ 118,282 $ 52,549 $ 118,259 $ 57,371 Senior Notes (2) $ 37,955 $ 40,000 $ 37,902 $ 40,000 Explanatory Note: ________________________________ (1) The Junior Subordinated Notes include both the March and October Junior Subordinated Notes (Note 9 ). The estimated fair values of the Junior Subordinated Notes were determined using a discounted cash flow model which utilizes significant unobservable inputs, including discount rates, yield and forward LIBOR curve assumptions. This methodology is classified as Level 3 within the fair value hierarchy. (2) On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which are publicly registered and fair valued using the issuance price. The carrying value of all of the following approximate the fair value of the financial instruments and are considered Level 1 in the fair value hierarchy: cash and cash equivalents, restricted cash and cash equivalents, receivables and due to brokers. In addition, amounts in the Consolidated Entities related to, restricted cash and cash equivalents, due from brokers, receivables and due to brokers also approximate the fair value of the instruments and are all considered Level 1 in the fair value hierarchy. Investments of the Consolidated Entities are diversified over multiple industries. In addition, applicable agreements governing CLOs and warehouses outline industry concentration limits. Management does not believe the Company has any significant concentration risks.	Fair Value Assets and Liabilities Measured at Fair Value on a Recurring Basis Fair Value Hierarchy — The following table summarizes the assets and liabilities carried at fair value on a recurring basis, by class and level: CIFC LLC December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 NAV Estimated Fair Value Level 1 Level 2 Level 3 NAV Estimated Fair Value (In thousands) (In thousands) Assets Investments: Credit Funds (1) $ — $ — $ — $ 31,411 $ 31,411 $ — $ — $ — $ 27,169 $ 27,169 Loans — — — — — — 2,959 967 — 3,926 Structured products & other — 1,768 37,517 — 39,285 — — 7,604 — 7,604 Subtotal — 1,768 37,517 31,411 70,696 — 2,959 8,571 27,169 38,699 Consolidated Entities: Loans (2) — 1,067,539 281,868 — 1,349,407 — 9,184,488 2,517,887 — 11,702,375 Corporate bonds — — — — — — — 478 — 478 Structured products & other — 840 1,156 — 1,996 — — 69,973 — 69,973 Total Consolidated Entities — 1,068,379 283,024 — 1,351,403 — 9,184,488 2,588,338 — 11,772,826 Total Assets $ — $ 1,070,147 $ 320,541 $ 31,411 $ 1,422,099 $ — $ 9,187,447 $ 2,596,909 $ 27,169 $ 11,811,525 Liabilities Contingent liabilities $ — $ — $ 8,338 $ — $ 8,338 $ — $ — $ 12,668 $ — $ 12,668 Consolidated Entities: Long-term debt (2) — — — — — — — 12,049,034 — 12,049,034 Total Consolidated Entities — — — — — — — 12,049,034 — 12,049,034 Total Liabilities $ — $ — $ 8,338 $ — $ 8,338 $ — $ — $ 12,061,702 $ — $ 12,061,702 CIFC Corp. December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 NAV Estimated Fair Value Level 1 Level 2 Level 3 NAV Estimated Fair Value (In thousands) (In thousands) Assets Investments: Credit Funds (1) $ — $ — $ — $ — $ — $ — $ — $ — $ 27,169 $ 27,169 Loans — — — — — — 2,959 967 — 3,926 Structured products & other — — 739 — 739 — — 7,604 — 7,604 Subtotal — — 739 — 739 — 2,959 8,571 27,169 38,699 Consolidated Entities: Loans (2) — — — — — — 9,184,488 2,517,887 — 11,702,375 Corporate bonds — — — — — — — 478 — 478 Structured products & other — — — — — — — 69,973 — 69,973 Total Consolidated Entities — — — — — — 9,184,488 2,588,338 — 11,772,826 Total Assets $ — $ — $ 739 $ — $ 739 $ — $ 9,187,447 $ 2,596,909 $ 27,169 $ 11,811,525 Liabilities Contingent liabilities $ — $ — $ 8,338 $ — 8,338 $ — $ — $ 12,668 $ — $ 12,668 Consolidated Entities: Long-term debt (2) — — — — — — — 12,049,034 — 12,049,034 Total Consolidated Entities — — — — — — — 12,049,034 — 12,049,034 Total Liabilities $ — $ — $ 8,338 $ — $ 8,338 $ — $ — $ 12,061,702 $ — $ 12,061,702 Explanatory Note: ______________________________ (1) Pursuant to the adoption of ASU 2015-07, disclosure of assets measured at NAV as a practical expedient in the fair value hierarchy is no longer required. (2) As of December 31, 2015 and 2014 , the total aggregate unpaid principal balance of loans was $1.4 billion and $12.0 billion , respectively. See Note 11 for total contractual principal amounts. As of December 31, 2015 , Long-term debt of the Consolidated VIEs was no longer measured using a third-party pricing service due to the adoption of ASU 2014-13 (Note 3 ). Changes in Level 3 Recurring Fair Value Measurements — The following tables summarize by class the changes in financial assets and liabilities measured at fair value classified within Level 3 of the valuation hierarchy. Net realized and unrealized gains (losses) for Level 3 financial assets and liabilities measured at fair value are included in the Consolidated Statements of Operations. CIFC LLC Level 3 Financial Assets For the Year Ended December 31, 2015 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Transfers into Level 3 (1) — — — 51,012 — — 51,012 Transfers out of Level 3 (2) — — — (69,435 ) — (1,803 ) (71,238 ) Transfers in due to consolidation or acquisition — — — 143,856 — — 143,856 Transfers out due to consolidation or acquisition — (12,546 ) (12,546 ) — — — — Transfers in (out) due to deconsolidation (2)(3) — 23,614 23,614 (2,476,625 ) (478 ) (67,383 ) (2,544,486 ) Transfers between classes — (2,613 ) (2,613 ) — — 2,613 2,613 Net realized/unrealized gains (losses) (3) 33 (6,828 ) (6,795 ) (16,747 ) — (143 ) (16,890 ) Purchases (3) 990 63,060 64,050 246,256 — 1,129 247,385 Sales (3) (1,990 ) (28,715 ) (30,705 ) (95,305 ) — (3,230 ) (98,535 ) Settlements (3) — (6,059 ) (6,059 ) (19,031 ) — — (19,031 ) Estimated fair value, end of period $ — $ 37,517 $ 37,517 $ 281,868 $ — $ 1,156 $ 283,024 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ — $ (5,689 ) $ (5,689 ) $ (4,875 ) $ — $ (163 ) $ (5,038 ) CIFC Corp. Level 3 Financial Assets For the Year Ended December 31, 2015 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Transfers into Level 3 (1) — — — 51,012 — — 51,012 Transfers out of Level 3 (2) — — — (69,435 ) — (1,803 ) (71,238 ) Transfers in due to consolidation or acquisition — — — 143,856 — — 143,856 Transfers out due to consolidation or acquisition — (12,546 ) (12,546 ) — — — — Transfers in (out) due to deconsolidation (2)(3) — 23,614 23,614 (2,476,625 ) (478 ) (67,383 ) (2,544,486 ) Transfers between classes — (2,613 ) (2,613 ) — — 2,613 2,613 Net realized/unrealized gains (losses) (3) 33 (6,828 ) (6,795 ) (16,747 ) — (143 ) (16,890 ) Purchases (3) 990 63,060 64,050 246,256 — 1,129 247,385 Sales (3) (1,990 ) (28,715 ) (30,705 ) (95,305 ) — (3,230 ) (98,535 ) Settlements (3) — (6,059 ) (6,059 ) (19,031 ) — — (19,031 ) Reorganization Transaction - Transfers out to CIFC LLC $ — $ (36,778 ) $ (36,778 ) $ (281,868 ) $ — $ (1,156 ) $ (283,024 ) Estimated fair value, end of period $ — $ 739 $ 739 $ — $ — $ — $ — Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ — $ (78 ) $ (78 ) $ — $ — $ — $ — CIFC LLC and CIFC Corp. Level 3 Financial Assets For the Year Ended December 31, 2014 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 510 $ — $ 510 $ 1,706,290 $ 16,220 $ 93,516 $ 1,816,026 Transfers into Level 3 (1) — — — 355,793 — — 355,793 Transfers out of Level 3 (2) (3) — — — (296,059 ) — — (296,059 ) Transfers in due to consolidation or acquisition 1,008 — 1,008 32,523 — 5,321 37,844 Transfers between classes (498 ) — (498 ) 498 — — 498 Net realized/unrealized gains (losses) (3) (53 ) (311 ) (364 ) (55,695 ) 350 9,136 (46,209 ) Purchases (3) — 7,915 7,915 1,884,265 — 1,910 1,886,175 Sales (3) — — — (412,444 ) (16,092 ) (19,022 ) (447,558 ) Settlements (3) — — — (697,284 ) — (20,888 ) (718,172 ) Estimated fair value, end of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ (23 ) $ (311 ) $ (334 ) $ (46,579 ) $ (28 ) $ 679 $ (45,928 ) Explanatory Notes: ______________________________ (1) Transfers in represent loans currently valued by a third-party pricing service using composite prices determined using less than two quotes, an internally developed pricing model or broker quotes and that were previously marked by a third-party pricing service using composite prices determined from two or more quotes. (2) Transfers out represent loans previously valued by an internally developed pricing model, broker quotes, or a third-party pricing service using composite prices determined using less than two quotes and are now being marked by a third-party pricing service using composite prices determined from two or more quotes. (3) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out for the year ended December 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Net realized/unrealized gains (losses), purchases, sales and settlements for the twelve months ended December 31, 2015 , also reflect the deconsolidation. CIFC LLC and CIFC Corp. Level 3 Financial Liabilities For the Year Ended December 31, 2015 For the Year Ended December 31, 2014 Contingent Liabilities Long-term Debt of Consolidated Entities Total Contingent Liabilities Long-term Debt of Consolidated Entities Total (In thousands) Estimated fair value, beginning of period $ 12,668 $ 12,049,034 $ 12,061,702 $ 16,961 $ 10,484,975 $ 10,501,936 Sale of investments in Consolidated CLOs (1) — — — — 20,601 20,601 Transfer in due to consolidation — — — — 101,694 101,694 Transfer out due to deconsolidation or sale (2)(3) — (12,049,034 ) (12,049,034 ) — — — Net realized/unrealized (gains) losses (2) 2,210 — 2,210 2,932 8,995 11,927 Purchases (2) — — — — 70,567 70,567 Issuances (2) — — — — 4,526,984 4,526,984 Settlements (2)(4) (6,540 ) — (6,540 ) (7,225 ) (3,164,782 ) (3,172,007 ) Estimated fair value, end of period $ 8,338 $ — $ 8,338 $ 12,668 $ 12,049,034 $ 12,061,702 Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period $ 2,210 $ — $ 2,210 $ 2,932 $ 230,011 $ 232,943 Explanatory Notes: __________________________ (1) Represents the Company's sales of its residual interests in the Consolidated CLOs. The sale removes the requirement to consolidate the CLOs, therefore, debt and/or subordinated notes of the CLOs are no longer eliminated in consolidation. (2) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out for the year ended December 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Net realized/unrealized gains (losses), purchases, sales and settlements for the twelve months ended December 31, 2015 , also reflect the deconsolidation. (3) Pursuant to the adoption of ASU 2014-13, the Long-term Debt of Consolidated Entities have been remeasured in accordance with the new guidance. (See Note 3 for details). (4) For Contingent Liabilities, amount represents payments made and due related to the contingent liabilities from the merger with Legacy CIFC (Note 10 ). Fair Value Methodologies of Financial Instruments The following is a description of the Company's valuation methodologies for financial instruments measured at fair value by class as required by ASC Topic 820, including the general classification of such instruments pursuant to the valuation hierarchy. Credit Funds —Amounts include the Company's investment in unconsolidated credit funds where the Company co-invests with third-party investors. The fair value of investments in credit funds are generally determined based on the Company's proportionate share of the net asset value ("NAV") of the fund. Investors in the Company’s open-ended credit funds may redeem their interests, at any time, within 30 days after notice. Investors in the Company’s closed-end credit funds generally cannot redeem. The Company estimates that closed-end funds are expected to liquidate over 2 to 5 years. The Company has no unfunded commitments in its open-ended and closed-end credit funds. Pursuant to the adoption of ASU 2015-07, the Company's investments in credit funds have been excluded from the fair value hierarchy table. See Note 3 . Loans —Loans are generally valued via a third-party pricing service. The value represents a composite of the mid-point in the bid-ask spread of broker quotes or is based on the composite price of a different tranche of the same or similar security if broker quotes are unavailable for the specific tranche the Company owns. The third-party pricing service provides the number of quotes used in determining the composite price, a factor that the Company uses in determining the observability level of the inputs to the composite price. When the fair value of the loan investments is based on a composite price determined using two or more quotes the composite price is considered to be based on significant observable inputs and classified as Level 2 within the fair value hierarchy. When the fair value of certain loan investments is based on a composite price determined using less than two quotes, the composite price is considered to be based on significant unobservable inputs. In these instances, the Company performs certain procedures on a sample basis to determine that composite prices approximate fair market value. Alternative methodologies are used to value the loans such as a comparable company pricing model (an internally developed model using composite or other observable comparable market inputs) or an internally developed model using data including unobservable market inputs. Accordingly, loans valued using alternative methodologies are classified as Level 3 within the fair value hierarchy. Corporate Bonds —Corporate bonds are generally valued via a third-party pricing service. The inputs to the valuation include recent trades, discount rates and forward yield curves. Although the valuation model inputs used by third-party pricing services are generally obtained from active markets and are observable, third-party pricing services do not provide sufficient visibility into their pricing models. When a value is unavailable, the Company uses an internally developed discounted cash flow model that includes unobservable market inputs or broker quotes. Accordingly corporate bonds are classified as Level 3 within the fair value hierarchy. Structured Products & Other —Structured Products and Other primarily represents the fair value of investments in CIFC and third-party managed CLOs and warehouses. These assets are generally valued via a third-party pricing service. The inputs to the valuation include recent trade information, discount rates, forward yield curves, and loan level information (including loan loss, recovery and default rates, prepayment speeds and other security specific information obtained from the trustee and other service providers related to the product being valued). Although the inputs used in the third-party pricing service's valuation model are generally obtained from active markets, the third-party pricing service does not provide a detailed analysis for each security valued. The Company performs certain procedures on a sample basis to determine that prices approximate fair market value. When a value from a third-party pricing service is unavailable, the value may be based on an internally developed discounted cash flow model which includes unobservable market inputs or by broker quote. Inputs to the internally developed model include the structure of the product being valued, estimates related to loan default, recovery and discount rates. Accordingly these assets are classified as Level 3 within the fair value hierarchy. The adoption of ASU 2015-02, resulted in the deconsolidation of 30 CLOs and the Senior Secured Corporate Loan fund on a modified retrospective basis (as of January 1, 2015). As of December 31, 2015 , the Company consolidated 2 CLOs, and 2 credit funds. In addition, included in Structured Products and Other are (i) equity securities not listed for trading on a national exchange ("Non-listed Equity Securities") received on certain loan restructurings within our portfolio and (ii) on occasion, warehouse total return swaps ("TRS", Note 7 ). Similar to the fair value of loans, Non-listed Equity Securities are valued using a third-party pricing service. When the fair value of a Non-listed Equity Security is determined using two or more quotes, it is classified as Level 2 within the fair value hierarchy, and when the fair value is determined using less than two quotes, it is classified as Level 3 within the fair value hierarchy. The fair value of a warehouse TRS is calculated as the sum of (i) the change in fair value of the reference obligations (SSCLs are valued at a composite of the mid-point in the bid-ask spread of broker quotes) since they became reference obligations, (ii) net realized gains (losses) on reference obligations sold during the period and (iii) interest income earned on the reference obligations, less an amount equal to LIBOR plus an agreed upon margin on the outstanding notional amount of the reference obligations. The warehouse TRS values are classified as Level 2 within the fair value hierarchy. Contingent Liabilities —The fair value of contingent liabilities is based on a discounted cash flow model. The model is based on projections of the relevant future management fee cash flows and utilizes both observable and unobservable inputs in the determination of fair value. Significant inputs to the valuation model include the structure of the underlying CLO and estimates related to loan default, recovery and discount rates. Contingent liabilities are classified as Level 3 within the fair value hierarchy. Long-Term Debt of the Consolidated CLOs & Warehouses —Long-term debt of the Consolidated CLOs and warehouses consists of debt and subordinated notes of the Consolidated CLOs and warehouses. Prior to the adoption of ASU 2014-13, the fair value of the debt and subordinated notes of the Consolidated CLOs or warehouses were valued via a third-party pricing service. The inputs to the valuation included recent trade information, discount rates, forward yield curves, and loan level information (including loan loss, recovery and default rates, prepayment speeds and other security specific information obtained from the trustee and other service providers related to the product being valued). Although the inputs used in the third-party pricing service's valuation model were generally obtained from active markets, the third-party pricing service does not provide a detailed analysis for each security valued. The Company performed certain procedures on a sample basis to determine that prices approximated fair market value. When a value from a third-party pricing service was unavailable, the value was based on an internally developed discounted cash flow model which included unobservable market inputs or by broker quote. Inputs to the internally developed model included the structure of the product being valued, estimates related to loan default, recovery and discount rates. Accordingly, the fair value of the debt and subordinated notes of the Consolidated CLOs or Warehouses were classified as Level 3 within the fair value hierarchy. Pursuant to the adoption ASU 2014-13, the fair value of the financial liabilities are no longer measured using a third party pricing service and are excluded from the fair value hierarchy. Financial liabilities are measured as: (1) the sum of the fair value of the financial assets and the carrying value of any non-financial assets that are incidental to the operations of the CLOs less (2) the sum of the fair value of any beneficial interests retained by the reporting entity (other than those that represent compensation for services) and the Company’s carrying value of any beneficial interests that represent compensation for services (Note 3 ). Quantitative Information about Level 3 Assets & Liabilities The disclosure provided below provides quantitative information about the significant unobservable inputs used in the valuation of the contingent liabilities of Legacy CLOs (see Note 10 ). December 31, 2015 December 31, 2015 December 31, 2014 Impact of Increase in Input on Fair Value Financial Liabilities Fair Value (in thousands) Valuation Technique Significant Unobservable Input Range Range Contingent Liabilities $ 8,338 Discounted cash flows Discount rate (2) 6.7% -12.0% 1.2%-12.5% Decrease Default rate (3) 2.0% 2.0% Decrease Recovery rate (3) 70% 70% Increase Pre-payment rate (3) 40% 35-40% Decrease Reinvestment spread of assets above LIBOR 3.0% -3.8% 3.0-3.8% Increase Reinvestment price of assets 100.0 100.0 Increase Explanatory Notes: ____________________________ (1) The impact of a decrease in input would have the opposite impact to the fair value as that presented in the table. (2) The discount rate varies by type of management fee (senior management fee, subordinated management fee, or incentive fee), the priority of that management fee in the waterfall of the CLO and the relative risk associated with the respective management fee cash flow projections. Amounts are presented as a spread over LIBOR . (3) Generally an increase in the default rate would be accompanied by a directionally opposite change in assumption for the recovery and pre-payment rates. Carrying Value and Estimated Fair Value of Financial Assets and Liabilities The Company has not elected the fair value option for certain financial liabilities. A summary of the carrying value and estimated fair value of those liabilities are as follows: As of December 31, 2015 As of December 31, 2014 Carrying Value Estimated Fair Value Carrying Value (3) Estimated Fair Value (In thousands) Financial liabilities: Long-term debt: Junior Subordinated Notes (1)(3) $ 118,259 $ 57,371 $ 118,170 $ 57,314 Senior Notes (2)(3) $ 37,902 $ 40,000 n/a n/a Explanatory Note: ________________________________ (1) The Junior Subordinated Notes include both the March and October Junior Subordinated Notes (Note 11 ). The estimated fair values of the Junior Subordinated Notes were determined using a discounted cash flow model which utilizes significant unobservable inputs, including discount rates, yield and forward LIBOR curve assumptions. This methodology is classified as Level 3 within the fair value hierarchy. (2) On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which is carried at its outstanding principal balance net of debt issuance costs (Note 11 ). The estimated fair value of the Senior Notes approximates issuance price from November 2, 2015. (3) Pursuant to the adoption of ASU 2015-03 the carrying value has been adjusted to reflect the presentation of debt issuance costs as a direct deduction from the related liability for all periods presented in accordance with amended guidance on simplifying the presentation of such costs. The carrying value of all of the following approximate the fair value of the financial instruments and are considered Level 1 in the fair value hierarchy: cash and cash equivalents, restricted cash and cash equivalents, due from brokers, receivables and due to brokers. In addition, amounts in the Consolidated Entities related to due from brokers, restricted cash and cash equivalents, receivables and due to brokers also approximate the fair value of the instruments and are all considered Level 1 in the fair value hierarchy. Investments of the Consolidated Entities are diversified over multiple industries. In addition, applicable agreements governing CLOs and warehouses outline industry concentration limits. Management does not believe the Company has any significant concentration risks.

NET RESULTS OF CONSOLIDATED ENT

NET RESULTS OF CONSOLIDATED ENTITIES (Notes)	12 Months Ended
	Dec. 31, 2015
Net Gain (Loss) From Activities Of Consolidated Entities
Net Gain (Loss) from Activities of Consolidated Variable Interest Entities [Text Block]	Net Results of Consolidated Entities Pursuant to the adoption of ASU 2015-02 (Note 3 ), the Company deconsolidated 30 CLOs and the Senior Secured Corporate Loan Fund from its Consolidated Financial Statements on January 1, 2015. The following table is a summary of net results of the Consolidated Entities: For the Year Ended December 31, 2015 2014 (In thousands) Investment income $ 25,106 $ 517,252 Interest expense 9,904 171,931 Net investment income 15,202 345,321 Net gain (loss) on investments (26,114 ) (228,777 ) Net gain (loss) on liabilities 24,746 (8,996 ) Net gain (loss) on other investments and derivatives 2,970 2,031 Net gain (loss) from activities of Consolidated Entities $ 16,804 $ 109,579 Expenses of Consolidated Entities 10,774 40,074 Net Results of Consolidated Entities $ 6,030 $ 69,505

DERIVATIVE INSTRUMENTS AND HE75

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Total Return Swap —During the three months ended March 31, 2015 , the Company, through a warehouse SPV, entered into a TRS agreement with a third-party bank, in lieu of financing. Under the TRS agreement, the Company received the income on the reference obligations (including gains on terminated reference obligations) and paid the counterparty an amount equal to three month LIBOR plus a margin on the outstanding notional amount of the reference obligations and losses on terminated reference obligations. The Company also consolidated this warehouse SPV as it was a VIE in which the Company was deemed the primary beneficiary (Note 2 ). During the year ended December 31, 2015 the warehouse agreement was terminated in conjunction with the issuance of a CLO. During the three months ended March 31, 2016 , the Company recognized $(0.3) million net (loss) related to other derivative instruments and during the three months ended March 31, 2015 , the Company recognized net income of $0.4 million related to the TRS agreement.	Derivative Instruments and Hedging Activities Total Return Swap —During the year ended December 31, 2015 , the Company, through a warehouse SPV, entered into a TRS agreement with a third-party bank, in lieu of financing. Under the TRS agreement, the Company received the income on the reference obligations (including gains on terminated reference obligations) and paid the counterparty an amount equal to three month LIBOR plus a margin on the outstanding notional amount of the reference obligations and losses on terminated reference obligations. The Company also consolidated this warehouse SPV as it was a VIE in which the Company was deemed the primary beneficiary (Note 2 ). The adoption of ASU 2015-02 did not change our consolidation assessment. During the year ended December 31, 2015 , the warehouse agreement was terminated in conjunction with the issuance of a CLO. During the year ended December 31, 2014 , the Company, through a warehouse SPV, entered into a separate TRS agreement with a third-party bank which was terminated in the same year. The Company recognized net income related to the TRS agreements and other derivative instruments during the years ended December 31, 2015 and 2014 of $3.6 million and $2.0 million , respectively.

EQUIPMENT AND IMPROVEMENTS (Not

EQUIPMENT AND IMPROVEMENTS (Notes)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Equipment and Improvements	Note 8 — Equipment and Improvements Equipment and improvements consisted of the following: As of December 31, Estimated initial useful life 2015 2014 (In years) (In thousands) Equipment and computer software 3-5 $ 5,513 $ 4,541 Leasehold improvements 11 2,468 2,455 Office furniture and fixtures 7 746 672 Equipment and improvements, gross 8,727 7,668 Less: accumulated depreciation (1) (3,861 ) (2,474 ) Equipment and improvements, net $ 4,866 $ 5,194 Explanatory Note: ________________________________ (1) Depreciation expense related to equipment and improvements totaled $1.4 million and $1.3 million for the years ended December 31, 2015 and 2014 , respectively. During the years ended December 31, 2015 and 2014 , additions to equipment and improvements totaled $1.1 million and $2.2 million , respectively.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Notes)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	Intangible Assets and Goodwill Intangible assets are comprised of the following: Weighted-Average Remaining Estimated Useful Life Gross Carrying Amount (1) Accumulated Amortization (2) Net Carrying Amount (In years) (In thousands) December 31, 2015: Investment management contracts 2.4 $ 71,113 $ 67,040 $ 4,073 Referral arrangement 3.8 3,810 2,096 1,714 Non-compete agreements 2.2 1,535 1,122 413 Trade name 5.2 1,250 593 657 Total intangible assets $ 77,708 $ 70,851 $ 6,857 December 31, 2014: Investment management contracts 3.2 $ 72,941 $ 61,723 $ 11,218 Referral arrangement 4.8 3,810 1,334 2,476 Non-compete agreements 3.2 1,535 936 599 Trade name 6.3 1,250 469 781 Total intangible assets $ 79,536 $ 64,462 $ 15,074 Explanatory Notes: _________________________________ (1) Gross carrying amounts have been adjusted for impaired assets as of the date presented. (2) During the years ended December 31, 2015 and 2014 , the Company recorded amortization expense on its intangible assets of $6.4 million and $10.1 million , respectively. The following table presents expected amortization expense of the existing intangible assets: (In thousands) 2016 $ 2,860 2017 1,929 2018 1,501 2019 411 2020 125 Thereafter 31 $ 6,857 During the year ended December 31, 2015 , the Company received notice from holders of certain CLOs exercising their right to call the CLO for redemption. As a result of these calls, the Company recorded impairment charges of $1.8 million to fully impair intangible assets associated with these management contracts. Goodwill For purposes of reviewing impairment and recoverability of goodwill, management must make various assumptions regarding estimated future cash flows and other factors in determining the fair value of the Company's only reporting unit. In evaluating the recoverability of goodwill, the fair value of the reporting unit is derived utilizing a blended income and market approach. Under the income approach management makes various assumptions regarding estimated future cash flows and other factors in determining the fair value of the reporting unit. Under the market approach, management determines the fair value of the reporting unit based on multiples of EBITDA of comparable publicly-traded companies. Based on the annual impairment review, which was assessed on November 30, 2015 and 2014, management determined that goodwill was not impaired. For the years ended December 31, 2015 and 2014 , the Company did not have any goodwill additions and total goodwill net of accumulated impairment of $76.0 million .

CONTINGENT LIABILITIES AND DEFE

CONTINGENT LIABILITIES AND DEFERRED PURCHASE PAYMENTS (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Business Combination, Contingent Consideration Arrangements [Abstract]
CONTINGENT LIABILITIES AT FAIR VALUE	Contingent Liabilities —In addition to the consideration paid in connection with the merger with Commercial Industrial Finance Corp. ("Legacy CIFC") (the "Merger"), the Company was required to pay CIFC Parent Holdings LLC ("CIFC Parent") a portion of incentive fees earned on six CLOs managed by CIFC Asset Management LLC (the "Legacy CIFC CLOs"). The terms of these payments were as follows: (i) the first $15.0 million of incentive fees received (which was fulfilled in 2013), (ii) 50% of any incentive fees in excess of $15.0 million in aggregate received from the Legacy CIFC CLOs by the combined company over ten years from April 13, 2011 (the "Merger Closing Date") and (iii) payments relating to the present value of any such incentive fees from the Legacy CIFC CLOs that remain payable to the combined company after the tenth anniversary of the Merger Closing Date. During both the three months ended March 31, 2016 and 2015 , the Company made total payments of $1.0 million related to these contingent liabilities. As of March 31, 2016 , there are no remaining payments under item (i) and the Company made cumulative payments of $ 16.6 million under (ii) to date. In addition, the Company also assumed contingent liabilities during the Merger that primarily represent contingent consideration related to Legacy CIFC’s acquisition of CypressTree Investment Management, LLC ("CypressTree") in December 2010. The assumed contingent liabilities are based on a fixed percentage of certain management fees from the CypressTree CLOs. These fixed percentages vary by CLO. The minimum fixed percentage was 39% since July 2013. As of March 31, 2016 , there were no payments due. During the three months ended March 31, 2015 , the Company made payments of $0.6 million , related to these contingent liabilities.	Contingent Liabilities —In addition to the consideration paid in connection with the merger with Commercial Industrial Finance Corp. ("Legacy CIFC") (the "Merger"), the Company was required to pay CIFC Parent Holdings LLC ("CIFC Parent") a portion of incentive fees earned on six CLOs managed by CIFC Asset Management LLC (the "Legacy CIFC CLOs"). The terms of these payments were as follows: (i) the first $15.0 million of incentive fees received (which was fulfilled in 2013), (ii) 50% of any incentive fees in excess of $15.0 million in aggregate received from the Legacy CIFC CLOs by the combined company over ten years from April 13, 2011 (the "Merger Closing Date") and (iii) payments relating to the present value of any such incentive fees from the Legacy CIFC CLOs that remain payable to the combined company after the tenth anniversary of the Merger Closing Date. During the years ended December 31, 2015 and 2014 , the Company made total payments of $2.5 million and $6.6 million , respectively, related to these contingent liabilities. As of December 31, 2015 , there are no remaining payments under item (i) and the Company made cumulative payments of $ 15.6 million under (ii) to date. In addition, the Company also assumed contingent liabilities during the Merger that primarily represent contingent consideration related to Legacy CIFC’s acquisition of CypressTree Investment Management, LLC ("CypressTree") in December 2010. The assumed contingent liabilities are based on a fixed percentage of certain management fees from the CypressTree CLOs. These fixed percentages vary by CLO. The minimum fixed percentage was 39% since July 2013. During the year ended December 31, 2015 , the Company made its final payment of $1.1 million satisfying its contingent consideration. During the year ended December 31, 2014 , the Company made payments of $0.6 million , related to these contingent liabilities. Deferred Purchase Payments —In March 2010, the Company entered into an acquisition and investment agreement with DFR Holdings and CNCIM pursuant to which it agreed to acquire all of the equity interests in Columbus Nova Credit Investments Management, LLC ("CNCIM") from DFR Holdings. The consideration for the CNCIM acquisition included deferred purchase payments totaling $7.5 million in cash payable in five equal annual installments beginning in December 2010. During the year ended December 31, 2014 , the Company paid its final installment of $1.5 million , leaving no amounts outstanding under this agreement.

LONG-TERM DEBT (Notes)79

LONG-TERM DEBT (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
LONG-TERM DEBT	Long-Term Debt The following table summarizes the long-term debt: March 31, 2016 December 31, 2015 Par Carrying Value Weighted Average Borrowing Rate Weighted Average Remaining Maturity Par Carrying Value Weighted Average Borrowing Rate Weighted Average Remaining Maturity (In thousands) (In years) (In thousands) (In years) Recourse Debt: March Junior Subordinated Notes (1) $ 95,000 $ 93,476 3.20 % 19.6 $ 95,000 $ 93,456 2.90 % 19.8 October Junior Subordinated Notes (2) 25,000 24,806 4.12 % 19.6 25,000 24,803 3.82 % 19.8 Senior Notes (3) 40,000 37,955 8.50 % 9.6 40,000 37,902 8.50 % 9.8 Total Recourse Debt $ 160,000 $ 156,237 4.67 % 17.1 $ 160,000 $ 156,161 4.44 % 17.3 Non-Recourse Consolidated Entities' debt: Consolidated CLOs and Other (4) $ 1,360,725 $ 1,312,058 0.03 % 9.0 $ 1,385,226 $ 1,308,558 0.02 % 9.1 Total Non-recourse Debt $ 1,360,725 $ 1,312,058 0.03 % 9.0 $ 1,385,226 $ 1,308,558 0.02 % 9.1 Explanatory Notes: _______________________________ (1) March Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 2.58% until maturity on October 30, 2035. Prior to April 30, 2015, these notes bore interest at an annual rate of 1% . (2) October Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 3.50% and mature on October 30, 2035. (3) The Senior Notes bear interest at 8.5% and mature on October 30, 2025. As of January 1, 2016, the Company temporarily did not meet certain registration requirements under the indenture (and associated agreements) and incurred additional interest of 25 basis points per annum for the period ended March 31, 2016. Each 90 days thereafter interest will increase by 25 basis points (capped at 1% per annum) until cured. The Company has cured these conditions and expects the additional interest to end in July 2016. (4) The subordinated notes of the Consolidated CLOs do not have a stated interest rate and have been excluded from the calculation of the weighted average borrowing rate. As of March 31, 2016 and December 31, 2015 , long-term debt of the Consolidated CLOs and Other includes $151.7 million and $153.1 million of credit fund debt, respectively. Non-Recourse Consolidated Entities' Debt —The debt and equity holders only have recourse to the total assets of the respective Consolidated Entity's assets. Consolidated Entities— As of March 31, 2016 , the Company consolidated 2 CLOs and 2 credit funds (Note 2 ). During the three months ended March 31, 2016 , the Consolidated Entities distributed $4.9 million to the holders of their subordinated notes. During the three months ended March 31, 2015 , the Consolidated Entities paid down $16.1 million of their outstanding debt, made net borrowings under revolving credit facilities of $33.1 million , and distributed $0.7 million to the holders of their subordinated notes. The carrying value of the assets of the Consolidated CLOs, which are the only assets to which the Consolidated CLO debt holders have recourse for repayment was $1.2 billion as of both March 31, 2016 and December 31, 2015 , respectively.	Long-Term Debt The following table summarizes the long-term debt of CIFC LLC and CIFC Corp. (1): December 31, 2015 December 31, 2014 Par Carrying Value (2) Weighted Average Borrowing Rate Weighted Average Remaining Maturity Par Carrying Value (2) Weighted Average Borrowing Rate Weighted Average Remaining Maturity (In thousands) (In years) (In thousands) (In years) Recourse Debt: March Junior Subordinated Notes (3) $ 95,000 $ 93,456 2.90 % 19.8 $ 95,000 $ 93,377 1.00 % 20.8 October Junior Subordinated Notes (4) 25,000 24,803 3.82 % 19.8 25,000 24,793 3.73 % 20.8 Senior Notes (5) 40,000 37,902 8.50 % 9.8 — — — % — Total Recourse Debt of CIFC LLC and CIFC Corp. $ 160,000 $ 156,161 4.44 % 17.3 $ 120,000 $ 118,170 1.57 % 20.8 Non-Recourse Consolidated Entities' debt: Consolidated CLOs and Other (6) $ 1,385,226 $ 1,308,558 0.02 % 9.1 $ 12,760,565 $ 11,998,034 1.77 % 8.7 Warehouses (7) — — — % — 51,000 51,000 1.89 % — Total Non-recourse Debt of CIFC LLC $ 1,385,226 $ 1,308,558 0.02 % 9.1 $ 12,811,565 $ 12,049,034 1.77 % 8.7 Total Non-recourse Debt of CIFC Corp. $ — $ — — % 0 $ 12,811,565 $ 12,049,034 1.77 % 8.7 Explanatory Notes: ________________________________ (1) As a result of the Reorganization Transaction (see Note 1 and Note 16 ), CIFC Corp. made a non-cash distribution in kind of certain of its subsidiary entities holding certain investment assets (e.g. investments in CLOs and Funds) to CIFC LLC. As such, as of December 31, 2015 , CIFC Corp. did not consolidate any CLOs. (2) Pursuant to the adoption of ASU 2015-03, the carrying values of recourse debt has been presented net of debt issuance costs. (3) March Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 2.58% until maturity on October 30, 2035. Prior to April 30, 2015, these notes bore interest at an annual rate of 1% . (4) October Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 3.50% and mature on October 30, 2035. (5) The Senior Notes bear interest at 8.5% and mature on October 30, 2025. (6) Pursuant to the adoption of ASU 2014-13, Long-term debt of the Consolidated CLOs has been remeasured in accordance with the new guidance (Notes 3 and 5 ). The subordinated notes of the Consolidated CLOs do not have a stated interest rate and have been excluded from the calculation of the weighted average borrowing rate. As of December 31, 2015 , long-term debt of the Consolidated CLOs includes $153.1 million of credit funds. (7) Long-term debt of warehouses not held by the Company is recorded at fair value. The fair value excludes the preferred shares of warehouses not held by the Company. As warehouses are generally terminated before the end of their terms, they are excluded from the calculation of the weighted average remaining maturity. Recourse Debt Junior Subordinated Notes —The $95.0 million aggregate principal amount of unsecured junior subordinated notes (the "March Junior Subordinated Notes") are governed by a junior subordinated indenture (the "March Note Indenture"), dated March 4, 2010, between the Company and the trustee. The $25.0 million aggregate principal amount of unsecured junior subordinated notes (the "October Junior Subordinated Notes") are governed by a junior subordinated indenture (the "October Note Indenture"), dated October 20, 2010, between the Company and the trustee. The March Note Indenture and October Note Indenture contain certain restrictive covenants including a restricted payments covenant that restricts the Company's ability to pay dividends or make distributions in respect of the Company's equity securities, subject to a number of exceptions and conditions. These covenants also limit CIFC Corp.'s ability to make distributions to its related parties, including CIFC LLC. Senior Notes —On November 2, 2015, CIFC Corp. issued $40.0 million in aggregate principal amount of its 8.5% unsecured senior notes due October 30, 2025 (the “Senior Notes”) guaranteed by CIFC LLC and certain subsidiaries. The Senior Notes indenture includes certain restrictive covenants including a restricted payments covenant that restricts the Company's ability to pay dividends or make distributions in respect of the Company's equity securities, subject to a number of exceptions and conditions. Prior to October 30, 2020 (the "Non-call Date"), we, at our option, may redeem all or a portion of the notes at a redemption price equal to (i) the principal amount of the notes being redeemed plus (ii) accrued and unpaid interest through the date of redemption plus (iii) a make whole payment. Any time on and after October 30, 2020, 2021, 2022, 2023 and thereafter, we, at our option, may redeem, all or a portion of the notes at a redemption price equal to 104.250% , 102.834% , 101.417% , or 100.00% , respectively, of the aggregate principal amount of the notes being redeemed plus accrued and unpaid interest to the date of redemption. Further, upon a change of control event, as defined by the indenture, the issuer must offer to repurchase the notes at 101.00% . Total debt issuance costs related to the issuance of the Senior Notes of $2.1 million was capitalized and recorded as a contra liability, resulting in a reduction of the total principal balance. Debt issuance costs are amortized over the term of the notes. During the year ended December 31, 2015 , the Company recorded an aggregate interest expense of $0.5 million related to these notes. Non-Recourse Consolidated Entities' Debt —The debt and equity holders only have recourse to the total assets of the respective Consolidated Entity's assets. Consolidated Entities— Upon adoption of ASU 2015-02, the Company deconsolidated 30 CLOs on a modified retrospective basis (as of January 1, 2015). As of December 31, 2015 , the Company consolidated 2 CLOs and 2 credit funds (Notes 2 and 3 ). During the year ended December 31, 2015 , the Consolidated Entities issued $484.2 million of debt, paid down $152.5 million of their outstanding debt, made net borrowings under revolving credit facilities of $153.6 million , and distributed $18.3 million to the holders of their subordinated notes. During the year ended December 31, 2014 , the Consolidated Entities issued $3.3 billion of debt, paid down $1.6 billion of their outstanding debt, made net borrowings under revolving credit facilities of $19.6 million , and distributed $230.0 million to the holders of their subordinated notes. The carrying value of the assets of the Consolidated CLOs, which are the only assets to which the Consolidated CLO debt holders have recourse for repayment was $1.2 billion and $12.6 billion as of December 31, 2015 and 2014 , respectively.

EQUITY (Notes)80

EQUITY (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
EQUITY	Equity Common Shares— During the three months ended March 31, 2016 and 2015 , the Company declared aggregate distributions of $0.34 and $0.10 per common share, respectively. Subsequent to quarter end, the Company's board of directors declared a cash distribution of $0.25 per share, composed of a $0.10 per share quarterly distribution and a $0.15 per share special distribution. The distribution will be paid on May 24, 2016 to shareholders of record as of the close of business on May 17, 2016 (Note 16 ). In connection with the Reorganization Transaction, two holders of record (the “Dissenting Shareholders”) with approximately 2.0 million shares of common stock of CIFC Corp. in aggregate (“Dissenting Shares”) reserved their right to seek appraisal of their shares (Note 16 ). Distributions payable to the Dissenting Shareholder will be withheld by the Company. Treasury Share/Share Repurchases— During the three months ended March 31, 2016 , the Company repurchased 75,296 common shares in open-market transactions for an aggregate cost (including transaction costs) of $0.4 million with an average price per share of $5.75 . There were no repurchases made during the three months ended March 31, 2015 . As of March 31, 2016 , the Company was authorized to repurchase up to $3.8 million of its common shares under the share repurchase program. Share-based Compensation— As of March 31, 2016 , there was $14.8 million of estimated unrecognized compensation expense related to unvested share options and RSU awards, net of estimated forfeitures. The remaining weighted average vesting periods of share options and RSUs are 0.28 years and 2.79 years, respectively. Share Options — The following table summarizes certain share options activity: Number of Shares Underlying Share Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (In years) (In thousands) Outstanding at December 31, 2015 3,285,313 $ 6.69 4.64 $ 788 Exercised (1) (50,000 ) $ 4.83 Outstanding at March 31, 2016 3,235,313 $ 6.72 4.39 $ 2,659 Exercisable at March 31, 2016 2,980,731 $ 6.56 4.13 $ 2,658 Vested and Expected to vest at March 31, 2016 (2) 3,219,855 $ 6.71 4.38 $ 2,659 Explanatory Notes: ________________________________ (1) During the three months ended March 31, 2016 and 2015 , total intrinsic value of options exercised was $33.5 thousand and $78.5 thousand , respectively. (2) Includes a reduction to outstanding options at period end for expected forfeiture rate over the life of the options. RSUs— For RSU awards that are not entitled to distribution equivalent rights, the fair value of the awards was determined using the Company's grant date common share price less the present value of the expected distributions forgone during the vesting period. For RSU awards that are entitled to distribution equivalent rights, the fair value of the awards was determined using the Company's grant date common share price. During the three months ended March 31, 2016 the Company granted to employees and directors 1,093,015 RSUs. These awards generally vest over 3 years , with 33% vesting at the end of the grant year and the remainder of the award vesting ratably on a quarterly basis for the remaining 2 years (until the last vesting date as stated in the award agreement). The following table summarizes restricted share unit activity: For the Three Months Ended March 31, 2016 Weighted Average Grant Date Fair Value Restricted share units outstanding, beginning of period 2,033,510 $ 7.69 Granted (1)(2) 1,093,015 $ 5.78 Vested (240,611 ) $ 8.09 Forfeited (3) (5,988 ) $ 8.35 Restricted share units outstanding, end of period 2,879,926 $ 6.69 Explanatory Notes: _________________________________ (1) Weighted average grant date fair value excludes 360,000 of performance based RSUs for which performance hurdles will be determined in the future. (2) Shareholder approval is required to increase the number of shares available under the Company’s 2011 Stock and Incentive Plan to accommodate these new grants. (3) The forfeited share-based awards are returned to the grant pool for reissuance under the 2011 Stock Plan.	Equity Common Shares— During each of the years ended December 31, 2015 and 2014 , the Company paid aggregate annual distributions of $0.40 per common share. Subsequent to year end, the Company's board of directors declared an aggregate cash distribution of $0.34 per share; composed of a quarterly cash distribution of $0.10 per share and a special distribution of $0.24 per share issued in order to defray a portion of the U.S. Federal income tax liability of shareholders arising from the Reorganization Transaction. The distribution will be paid on April 15, 2016 to shareholders of record as of the close of business on April 1, 2016 (Note 19 ). During 2014, the Company issued 4,132,231 shares of the Company's common shares on the conversion of $25.0 million of Convertible Notes to DFR Holdings. Treasury Share/Share Repurchases— On March 29, 2012, the Board of Directors ("the Board") approved a $10.0 million share repurchase program. Shares may be repurchased from time to time and in such amounts as market conditions warrant, subject to price ranges set by management and regulatory considerations. The share repurchase program does not have an expiration date. During the year ended December 31, 2015 , the Company repurchased 168,008 common shares in open-market transactions for an aggregate cost (including transaction costs) of $1.2 million with an average price per share of $6.85 . The Company's Board authorized the constructive retirement of all outstanding treasury shares though December 31, 2015 , or 298,452 treasury shares with an aggregate cost of $2.1 million . As a result, the cost of the retired shares were reclassified from Treasury shares to Additional paid-in capital on the Consolidated Balance Sheet. There were no repurchases made during the year ended December 31, 2014 . As of December 31, 2015 , the Company was authorized to repurchase up to 4.2 million of its common shares under the share repurchase program. Share-based Compensation— The Company is authorized to issue up to 6,181,929 common shares pursuant to the CIFC Corp. 2011 Stock Option and Incentive Plan (the “2011 Stock Plan”). Stock options and restricted stock units ("RSUs") are issued under the 2011 Stock Plan. As of December 31, 2015 , an aggregate of 296,540 shares remain available for issuance under the 2011 Stock Plan. During the years ended December 31, 2015 and 2014 , the Company recorded total share-based compensation expense from stock options and RSUs of $5.3 million and $2.6 million , respectively. As of December 31, 2015 , there was $10.0 million of estimated unrecognized compensation expense related to unvested stock option and RSU awards, net of estimated forfeitures. The remaining weighted average vesting period of stock options and RSUs are 0.39 years and 2.71 years, respectively. Stock Options — The following table summarizes certain Stock Options activity: Number of Shares Underlying Share Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (In years) (In thousands) Outstanding at December 31, 2014 3,635,313 $ 6.68 5.16 $ 6,146 Exercised (1) (103,906 ) $ 5.00 Forfeited (2) (159,531 ) $ 7.25 Expired (2) (86,563 ) $ 7.09 Outstanding at December 31, 2015 3,285,313 $ 6.69 4.64 $ 788 Exercisable at December 31, 2015 2,872,540 $ 6.50 4.21 $ 744 Vested and Expected to vest at December 31, 2015 (3) 3,263,392 $ 6.68 4.62 $ 786 Explanatory Notes: ________________________________ (1) During the year ended December 31, 2015 and 2014 , total intrinsic value of options exercised was $0.2 million and $0.3 million , respectively. (2) Forfeited and expired equity-based awards are returned to the grant pool for reissuance under the 2011 Stock Plan. (3) Includes a reduction to outstanding options at period end for expected forfeiture rate over the life of the options. Management estimates the fair value of share-based awards using the Black-Scholes option pricing model. The Company did not grant any stock options during the year ended December 31, 2015 . The weighted average assumptions as of the grant date related to share-based awards (by period issued) are listed in the table below: For the Years Ended December 31, 2014 Expected dividend yield 4.54 % Expected volatility 42.65 % Risk-free interest rate 1.96 % Expected life (years) 5.77 The share-based awards granted generally have exercise prices equal to the fair market value of the share on the date of grant, a contractual term of 10 years and a vesting period of approximately 4 years. In addition to awards with service conditions, certain of the awards also contain performance conditions. The expected dividend yield is the expected annual dividend as a percentage of the fair market value of the shares on the date of grant. The expected dividend yield represents what the Company expected to distribute in the foreseeable future at the grant date. The expected volatility is estimated by considering the historical volatility of the Company's shares, the historical and implied volatility of peer companies and the Company's expectations of volatility for the expected life of the share-based awards. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for an instrument which closely approximates the expected option term. The expected option term is the number of years management estimates that the share-based award will be outstanding prior to exercise. The expected life of the share-based awards issued is determined using the simplified method. RSUs— Each RSU outstanding represents the right to receive one CIFC LLC common share, subject to acceleration upon the occurrence of certain specified events. The number of RSUs may be adjusted, as determined by the Board, in connection with any share dividends, share splits, subdivisions or consolidations of shares (including reverse share splits) or similar changes in the Company's capitalization. RSU awards are generally not entitled to distributions, therefore the fair value of these awards were determined using the Company's grant date common share price less the present value of the expected distributions forgone during the vesting period. For certain awards, RSUs are entitled to dividend equivalent rights and, as such, the fair value of the awards was determined using the Company's grant date common share price. During the years ended December 31, 2015 and 2014 , the Company granted to employees and directors 1,138,787 and 1,318,152 RSUs, respectively. During 2015 and 2014, the Company granted the following RSUs: • an aggregate of 340,000 and 362,070 , respectively, service-based RSUs to certain employees and executives. These awards generally vest over 3 years , with 33% vesting at the end of the grant year and the remainder of the award vesting ratably on a quarterly basis for the remaining 2 years (until the last vesting date as stated in the award agreement). • an aggregate of 720,000 and 180,000 , respectively, performance-based RSUs which cliff vest according to the terms of the RSU agreements. • an aggregate of 65,868 and 76,082 , respectively, service-based RSUs to the Company's directors. The 2015 awards vest no later than July 1, 2016 and the 2014 awards vested on June 5, 2015. • Further, on December 31, 2015, the Company modified its June 13, 2014 service-based RSUs granted to the Company's Co-Presidents. The acceleration of vesting resulted in an additional $0.4 million of share based compensation expense recognized during the current year. The 600,000 service-based RSUs are composed of five tranches of 120,000 , with 20% of the first tranche initially vesting on December 31, 2014, 20% of the second tranche initially vesting on December 31, 2015, 20% of the third tranche initially vesting on December 31, 2016, 20% of the fourth tranche initially vesting on December 31, 2017 and 20% of the fifth tranche initially vesting on December 31, 2018 (each such 20% initial vesting date, the “Initial Vest Date” in respect of such tranche); following the Initial Vest Date in respect of each tranche, 5% of the remaining RSUs will vest quarterly over the four year period following the Initial Vest Date in respect of such tranche. The modification accelerated the vesting of the third, fourth and fifth tranche to occur in full on March 31, 2017, 2018 and 2019, respectively. The first and second tranche of these awards will continue to vest according to the terms of the original RSU agreement. • On October 2, 2014, the Company granted 100,000 service-based RSUs to certain employees which are comprised of five equal 20,000 RSU tranches, with 20% of the first tranche initially vesting on December 31, 2014 and 20% of each of the remaining four tranches initially vesting on one year anniversaries of the initial vesting date of previous tranches (each such 20% initial vesting date, the “Initial Vest Date” in respect of such tranche). Following the Initial Vest Date in respect of each tranche, 5% of the remaining RSUs will vest quarterly over the four year period following the Initial Vest Date in respect of such tranche. • Prior to 2014, the Company granted 15,000 RSUs. These awards vest over four years with 25% initially vesting at the end of the grant year and the remainder of the award vesting annually for the three years remaining (until the last vesting date as stated in the award agreement). The following table summarizes restricted stock unit activity: For the Year Ended December 31, 2015 Weighted Average Grant Date Fair Value Restricted stock units outstanding, beginning of period 1,248,444 $ 8.01 Granted (1) 1,138,787 $ 7.21 Vested (286,592 ) $ 8.07 Forfeited (2) (67,129 ) $ 7.76 Restricted stock units outstanding, end of period 2,033,510 $ 7.69 Explanatory Notes: _________________________________ (1) Weighted average grant date fair value excludes 540,000 of performance based RSUs for which performance hurdles will be determined in the future. (2) The forfeited share-based awards are returned to the grant pool for reissuance under the 2011 Stock Plan. Profits Interests Awards— During June 2011, CIFC Parent (a related party until December 18, 2013) granted certain employees of the Company profits interests in CIFC Parent which are fully vested. The profits interests share in approximately 5% of the residual value of CIFC Parent above a specified value. These liability-based awards were measured at fair value on the grant date and are remeasured at each reporting date, with changes in fair value recorded as compensation expense, until the award is paid (or settled) by CIFC Parent. Management's estimate of the fair value of these awards was based on a discounted cash flow model that includes estimates related to the performance of CIFC Parent. During the years ended December 31, 2015 and 2014 , the Company recorded a non-cash compensation expense of $0.2 million and $0.1 million , respectively, in "Employee compensation and benefits" on the Consolidated Statements of Operations related to the amortization and remeasurement of the value of the awards. Warrants— In December 2013, DFR Holdings purchased warrants (the "DFR Warrants") from GE Capital Equity Investments, Inc. ("GE Capital"). The DFR Warrants generally maintain the same terms as the warrants originally held by GE Capital. The DFR Warrants provide the holder the right to purchase 2.0 million common shares while the original warrants issued to GE Capital provided the holder the right to purchase a newly created class of non-voting share. The DFR Warrants have an exercise price of $6.375 per share, are immediately exercisable and were scheduled to expire on September 24, 2014. The terms of the warrants were extended in 2014 for one year (or September 24, 2015) in exchange for $0.2 million cash. In 2015, the terms of the warrants were extended to January 24, 2017 in exchange for $0.4 million cash. Both extensions were recorded to "Additional paid-in-capital" on the Consolidated Balance Sheet.

RETIREMENT AND SAVINGS PLAN (No

RETIREMENT AND SAVINGS PLAN (Notes)	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Retirement and Savings Plan	Note 13 —Retirement and Savings Plan The Company maintains a 401(k) Savings Plan for its full-time employees. In 2014, the Company started to provide a Company match on employees’ 401(k) contributions up to certain limits. Under the 401(k) Savings Plan, each participant may elect to contribute a portion of his or her annual compensation to the Plan subject to annual pre-tax dollar limits set by the IRS. In addition, the Company established a Profit Sharing Plan for certain employees. The Company’s contribution to the employees’ retirement plan totaled $0.3 million for both the years ended December 31, 2015 and 2014 . The Company is under no obligation to continue matching future employee contributions or to continue contributing to the Profit Sharing Plan and at the Company’s discretion may change its practices at any time.

EARNINGS (LOSS) PER SHARE (No82

EARNINGS (LOSS) PER SHARE (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	Earnings (Loss) Per Share The following table presents the calculation of basic and diluted earnings (loss) per share ("EPS"): For the Three Months Ended March 31, 2016 (1) 2015 (In thousands, except per share data) Net income (loss) attributable to the Company - basic & diluted $ 4,505 $ 5,428 Weighted-average shares - basic 25,355 25,279 Share options (2) 283 697 Warrants (3) — 458 Unvested RSUs 171 138 Weighted-average shares - diluted 25,809 26,572 Earnings (loss) per share Basic $ 0.18 $ 0.21 Diluted $ 0.17 $ 0.20 Explanatory Notes: ________________________________ (1) Earnings per share basic and diluted has been calculated assuming that the Dissenting Shares are outstanding. Excluding the Dissenting Shares, total weighted-average shares basic and diluted would be 23,328,479 and 23,783,188 , respectively, and earnings per share basic and diluted would be $0.19 (Note 10 and 16 ). (2) For the three months ended March 31, 2016 and 2015 , the Company excluded anti-dilutive share options from the calculation of diluted EPS of $2.0 million and of $0.7 million , respectively. (3) For the three months ended March 31, 2016 , the warrants were anti-dilutive for purposes of EPS. The warrants expire on January 24, 2017 (Note 13 ).	Earnings (Loss) Per Share The following table presents the calculation of basic and diluted earnings (loss) per share ("EPS"): CIFC LLC CIFC Corp. CIFC LLC & CIFC Corp. For the Years Ended December 31, 2015 2015 2014 (In thousands, except per share data) Net income (loss) attributable to the Company - basic & diluted $ 334 $ 384 $ 8,381 Weighted-average shares - basic 25,315 25,315 22,909 Stock options (1) 590 590 674 Warrants (2) 311 311 500 Unvested RSUs 198 198 85 Weighted-average shares - diluted 26,414 26,414 24,168 Earnings (loss) per share Basic $ 0.01 $ 0.02 $ 0.37 Diluted $ 0.01 $ 0.01 $ 0.35 Explanatory Notes: ________________________________ (1) For the years ended December 31, 2015 and 2014 , the Company excluded anti-dilutive stock options from the calculation of diluted EPS of 1.1 million and of 0.8 million , respectively. (2) On September 24, 2015, the term of the warrants was extended to January 24, 2017 (Note 12 ).

INCOME TAXES (Notes)83

INCOME TAXES (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes The following table summarizes the Company's tax provision: For the Three Months Ended March 31, 2016 2015 (In thousands) Income (loss) before income taxes $ 5,785 $ 8,769 Income tax expense $ 1,278 $ 3,087 Effective income tax rate (1) 22.1 % 35.2 % Explanatory Note: ________________________________ (1) During 2015, the Company adopted new accounting standards that impacted Income (loss) before income taxes for the three months ended March 31, 2015 (Note 2 ). The change has resulted in the change of the effective income tax rate. In addition, for the three months ended March 31, 2016 and 2015 deferred income tax expense (benefit) was $1.3 million and $(0.2) million , respectively. As a result of the Reorganization Transaction, investment income earned by CIFC is not subject to tax at the entity level. The difference between the statutory tax rate and the effective tax rate, as well as the change in the effective tax rate compared to the prior year was primarily attributable to the Reorganization Transaction and to income/(losses) from non-controlling interests of Consolidated VIEs. The income/(losses) from non-controlling interests of Consolidated VIEs are included in book income/(loss) before income taxes but are not taxable income/(loss) to CIFC. During the three months ended March 31, 2016 , there were no material changes to the Company’s uncertain tax positions and the Company believes there will be no significant increases or decreases to the uncertain tax positions within 12 months of the reporting date.	Income Taxes The Company is treated as a partnership for income tax purposes and is therefore not subject to U.S. federal, state and local income taxes. CIFC Corp., a wholly-owned subsidiary of the Company, is subject to U.S. federal, state and local corporate income taxes. The components of income tax expense (benefit) are as follows: For the Year Ended December 31, 2015 2014 (In thousands) Current: Federal $ 14,777 $ 13,899 State and local (588 ) 4,327 Total current expense 14,189 18,226 Deferred: Federal 4,361 (2,672 ) State and local 6,689 6,604 Total deferred expense (benefit) 11,050 3,932 Total income tax expense (benefit) $ 25,239 $ 22,158 The following table reconciles the Company's effective tax rate to the U.S. federal statutory tax rate: For the Year Ended December 31, 2015 2014 Statutory U.S. federal income tax rate 35.00 % 35.00 % Reconciling items: Income passed through to common shareholders and non-controlling interest holders (1) (0.84 )% 73.69 % State income taxes, net of federal effect (0.67 )% 31.92 % Nondeductible expenses 2.74 % 26.22 % Effect of tax law changes 24.02 % 64.67 % Valuation allowance release — % (2.88 )% PTP Conversion adjustments 35.04 % — % Other 1.04 % (3.32 )% Effective income tax rate (2) 96.33 % 225.30 % Explanatory Notes: ________________________________ (1) Includes income that is not taxable to the Company. Such income is directly taxable to the non-controlling interest holders in the Consolidated CLOs. (2) The effective tax rate is calculated on "Income (loss) before income tax expense (benefit)". The tax effects of temporary differences that result in significant deferred tax assets and deferred tax liabilities are as follows: For the Year Ended December 31, 2015 2014 (In thousands) Deferred tax assets: Intangible assets and goodwill $ 33,160 $ 39,946 State net operating loss carryforwards 16,043 16,530 Federal net operating loss carryforwards 8,607 9,070 Other 6,340 10,872 Gross deferred tax asset 64,150 76,418 Less: Valuation allowance 15,428 15,040 Deferred tax asset 48,722 61,378 Deferred tax liabilities: Long-term debt 2,372 2,663 Other 1,925 3,240 Deferred tax liability 4,297 5,903 Net deferred tax asset $ 44,425 $ 55,475 The Company evaluates its deferred income tax assets to determine if valuation allowances are required. The determination is based on all available evidence using a "more likely than not" standard. The Company’s ability to realize deferred tax assets depends upon the existence of sufficient taxable income of the appropriate character (ordinary vs. capital) within the carryback or carryforward periods. The Company considered all sources of taxable income in its deferred tax asset realization analysis. As of December 31, 2015 and 2014 , the Company recognized a cumulative valuation allowance of $15.4 million and $15.0 million , respectively. The valuation allowance was recorded because management assessed that it is more likely than not that only a portion of the deferred tax asset will be realized. The valuation allowance relates to deferred tax assets for state net operating loss carryforwards. Ownership Changes— The Company experienced an ownership change on June 9, 2010 as a result of the acquisition of CNCIM and on April 13, 2011 as the result of the Merger causing a limitation on the annual use of its NOLs, Net Capital Losses, and certain recognized built-in losses. The annual limitation amount is approximately $1.3 million resulting from the June 9, 2010 ownership change. The Merger resulted in an annual limitation of approximately $9.5 million . However, as of December 31, 2012, the combined federal NOL carryforwards related to Legacy CIFC were fully utilized. For tax purposes, the Company also experienced other ownership changes as a result of transactions undertaken during 2013 and 2014. The Company does not anticipate further restrictions to the Section 382 limitation resulting from these transactions. As of December 31, 2015 , the Company had tax attribute carryforwards for US federal income tax purposes of $24.6 million which will expire in 2034 if not used. As noted above, these tax attributes are subject to the annual limitation of $1.3 million . Losses that exceed the Section 382 Limitation in any year will continue to be allowed as carryforwards for the remainder of the carryforward period; however, if the carryforward period for any losses expires before that loss is fully utilized, the unused portion will provide no future benefit. The Company had NOL carryforwards for state income tax purposes as follows: Illinois - $268.5 million , New York State - $28.3 million , and New York City - $17.4 million , expiring in 2023, 2035, and 2034 respectively. The Company believes that it is more likely than not that Illinois and New York State NOLs will not provide any future benefit. Accordingly, we have recorded full valuation allowances related to these NOLs. In April 2015, New York City enacted tax legislation that is effective retroactively for tax years beginning on or after January 1, 2015. As the result of the legislation, the Company expects a significant decrease in the portion of its income taxable in New York City. The Company recorded an expense of $6.3 million to reflect both a reduction in the value of its deferred tax assets and the establishment of a $0.4 million valuation allowance associated with New York City NOLs as a result of the law change. In addition, the effective tax rate for the year ended December 31, 2014 was impacted by an expense of $6.4 million from the write-down of deferred tax assets related to the New York State law change. As part of the Reorganization Transaction, CIFC Corp. distributed ownership of certain subsidiary entities holding certain investment assets, including investments in CLOs and funds, to CIFC LLC. As a result of the distribution, the Company recorded an expense of $ 3.8 million to reflect a reduction in the value of its deferred tax assets associated with the Reorganization Transaction. CIFC Corp. and its subsidiaries filed income tax returns in the U.S. and various state jurisdictions. As of December 31, 2015 , CIFC Corp.’s 2012 through 2014 U.S. federal income tax returns are open for Internal Revenue Service and state taxing authorities’ examination under the three-year statute of limitations. CIFC Corp. is currently under audit by the Internal Revenue Service for the years ended December 31, 2011 and 2012 and New York City for the years ended December 31, 2011 through December 31, 2013. The Company does not believe that the outcome of these audits will require the Company to record reserves for uncertain tax positions or that the outcome will have a material impact on the Consolidated Financial Statements for the years ended December 31, 2015 and 2014 . The Company recognizes tax positions in the financial statements only when it is more likely than not that the position will be sustained on examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized on settlement. A liability is established for differences between positions taken in a tax return and amounts recognized in the financial statements. During the year ended December 31, 2015 , the Company’s unrecognized tax benefit related to tax positions taken in prior periods increased by $0.3 million , excluding related interest and penalties. If the unrecognized tax benefits were recognized, the annual effective tax rate would reduce by a de minimis amount. The Company does not believe that it will have a material change in its unrecognized tax benefits during the coming year. The Company recognizes interest and penalties accrued related to unrecognized tax positions in General, Administrative, and Other Expenses. During the years ended December 31, 2015 and 2014 , no interest or penalties were accrued.

RELATED PARTY TRANSACTIONS (N84

RELATED PARTY TRANSACTIONS (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	Related Party Transactions DFR Holdings— As of March 31, 2016 and December 31, 2015 , DFR Holdings owned approximately 18.8 million of the Company’s shares which was approximately 74% of the Company's outstanding shares and 70% on a fully diluted basis (in each case including the Dissenting Shares (Note 10 and 16 )). Accordingly, DFR Holdings received cash distributions from the Company (see Note 10 ). In addition, DFR Holdings also holds warrants which provide DFR Holdings the right to purchase 2.0 million voting common shares. These warrants are scheduled to expire on January 24, 2017. Under the Company's consulting agreement with DFR Holdings, DFR Holdings provides CIFC with ongoing advisory services such as the participation in financial, tax and strategic planning/budgeting, investor interface, new product initiatives, fund raising and recruiting. During both the three months ended March 31, 2016 and 2015 , the Company paid $2.0 million and expensed $0.5 million in connection with the consulting agreement. In addition, pursuant to the Third Amended and Restated Stockholders Agreement with DFR Holdings dated December 2, 2013, the Company agreed to nominate to the Company's Board of Directors six directors designated by DFR Holdings (the "DFR Designees"). The number of directors that can be designated by DFR Holdings will be reduced in the event that DFR Holdings decreases its ownership (on a diluted basis) in CIFC. If DFR Holdings' ownership falls below 5% , it will lose the right to designate any director. During both the three months ended March 31, 2016 and 2015 , the DFR Designees earned an aggregate $0.2 million related to their service as directors of CIFC. Other— As of March 31, 2016 and December 31, 2015 , a board member held $1.0 million of income notes in one of the Company's sponsored CLOs, CIFC Funding 2013-II, Ltd., through an entity in which he is a 50% equity holder. Funds— All CIFC investments in credit funds are related party transactions (Note 2 ). As of both March 31, 2016 and December 31, 2015 , key employees and directors of the Company (including related entities) invested an aggregate of $4.7 million in four CIFC managed Funds. Key employees are not charged management or incentive fees, where applicable, on their investment. Directors were charged management and/or incentive fees, where applicable, similar to certain other investors. For all periods presented in 2016 and 2015 , these fees were de minimis.	Related Party Transactions DFR Holdings— As of December 31, 2015 and 2014 , DFR Holdings owned approximately 18.8 million of the Company’s shares. Accordingly, DFR Holdings received quarterly distributions from the Company (see Note 12 ). In addition, the DFR Warrants provide DFR Holdings the right to purchase 2.0 million voting common shares which were scheduled to expire on September 24, 2015. On September 24, 2015, the terms of the warrants were extended to January 24, 2017 in exchange for cash of $0.4 million (Note 12 ). In August 2014, the Company entered into a consulting agreement with DFR Holdings whereby DFR Holdings agreed to provide CIFC with ongoing advisory services such as the participation in financial, tax and strategic planning/budgeting, investor interface, new product initiatives, fund raising and recruiting. During both the years ended December 31, 2015 and 2014 , the Company expensed $2.0 million in connection with the consulting agreement. In addition, pursuant to the Third Amended and Restated Stockholders Agreement with DFR Holdings dated December 2, 2013, the Company agreed to nominate to the Company's Board of Directors six directors designated by DFR Holdings (the "DFR Designees"). The number of directors that can be designated by DFR Holdings will be reduced in the event that DFR Holdings decreases its ownership (on a diluted basis) in CIFC. If DFR Holdings' ownership falls below 5% , it will lose the right to designate any director. During the years ended December 31, 2015 and 2014 , the DFR Designees earned an aggregate $0.7 million and $0.8 million , respectively, related to their services as directors of CIFC. Related party transactions in 2014 included $1.9 million of interest expense paid to DFR Holdings on the Convertible Notes which were subsequently converted into 4,132,231 shares. Other— As of December 31, 2015 and 2014 , a board member held $1.0 million of income notes in one of the Company's sponsored CLOs, CIFC Funding 2013-II, Ltd., through an entity in which he is a 50% equity holder. Funds— All CIFC general partner's investments in credit funds are related party transactions (Note 2 ). As of December 31, 2015 and 2014 , key employees and directors of the Company (including related entities) invested an aggregate of $4.7 million in four CIFC managed Funds. Key employees are not charged management or incentive fees, where applicable, on their investment. Directors were charged management and/or incentive fees, where applicable, similar to certain other investors. For all periods presented in 2015 and 2014 , these fees were de minimis. Investment in Wholly-Owned Subsidiaries of CIFC LLC— As part of the Reorganization Transaction, CIFC Corp. made a non-cash distribution in kind of certain of its subsidiary entities holding certain investment assets (e.g. investments in CLOs and Funds) to other wholly-owned subsidiaries of CIFC LLC. CIFC Corp. (i) made a non-cash distribution in kind of $110.0 million (of which $42.0 million was cash held by CIFC Corp.) and (ii) retained 85,000 non-voting Series A Preferred Units ("Preferred Units") issued by certain wholly-owned subsidiaries of CIFC LLC with a par value of $85.0 million . The Preferred Units will pay annual distributions of 3.5% , must be redeemed or retired by January 29, 2026, and at the election of the holder, are callable four years after issuance at par plus accrued and unpaid distributions. As of December 31, 2015 , CIFC Corp.'s investment in the Preferred Units was reported in "Investment in wholly-owned subsidiaries of CIFC LLC" on the Consolidated Balance Sheet of CIFC Corp. This is an intercompany transaction and has been eliminated upon consolidation of CIFC LLC's Consolidated Financial Statements. Senior Notes— During 2015 , CIFC Corp. issued $40.0 million of Senior Notes which were fully and unconditionally guaranteed by CIFC LLC and certain subsidiaries (see Note 18 ).

COMMITMENTS AND CONTINGENCIES85

COMMITMENTS AND CONTINGENCIES (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	Commitments and Contingencies Legal Proceedings —In the ordinary course of business, the Company may be subject to legal and regulatory proceedings and examinations that are generally incidental to the Company's ongoing operations. While there can be no assurance of the ultimate disposition of any such proceedings or examinations, the Company does not believe their disposition will have a material adverse effect on the Company's Condensed Consolidated Financial Statements. Lease Commitments —During both the three months ended March 31, 2016 and 2015 , total occupancy expense was $0.4 million . Unfunded Loan Commitments — Certain of the Consolidated Entities have assets which include delayed draw term loans and unfunded revolvers. Unfunded loan commitments represent the estimated fair value of those delayed draw term loans and unfunded revolvers. As of March 31, 2016 and December 31, 2015 , the Consolidated Entities had unfunded loan commitments of $1.3 million and $1.0 million , respectively. The timing and amount of additional funding on these loans are at the discretion of the borrower, to the extent the borrower satisfies certain requirements and provides certain documentation.	Commitments and Contingencies Legal Proceedings —In the ordinary course of business, the Company may be subject to legal and regulatory proceedings and examinations that are generally incidental to the Company's ongoing operations. While there can be no assurance of the ultimate disposition of any such proceedings or examinations, the Company does not believe their disposition will have a material adverse effect on the Company's Consolidated Financial Statements. Lease Commitments —During both the years ended December 31, 2015 and 2014 , total occupancy expense was $1.7 million . The future minimum commitments under the Company's lease agreement are as follows: (In thousands) 2016 $ 1,607 2017 1,607 2018 1,680 2019 1,752 2020 1,752 Thereafter 3,506 $ 11,904 Unfunded Loan Commitments —As part of the Reorganization Transaction (Notes 1 & 16 ), CIFC Corp. made a non-cash distribution in kind of certain of its subsidiary entities holding certain investment assets (e.g. investments in Funds) to CIFC LLC. As of December 31, 2015 , CIFC Corp. did not consolidate any CLOs. Unfunded loan commitments disclosed below relate to CIFC LLC as of December 31, 2015 and 2014 and CIFC Corp. as of December 31, 2014 . Certain of the Consolidated Entities have assets which include delayed draw term loans and unfunded revolvers. Unfunded loan commitments represent the estimated fair value of those delayed draw term loans and unfunded revolvers. As of December 31, 2015 and 2014 , the Consolidated Entities had unfunded loan commitments of $1.0 million and $5.9 million , respectively. The timing and amount of additional funding on these loans are at the discretion of the borrower, to the extent the borrower satisfies certain requirements and provides certain documentation.

FINANCIAL INFORMATION FOR SUB86

FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS AND NON-GUARANTORS (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Guarantees [Abstract]
Guarantees [Text Block]	Note 15 —Financial Information for Subsidiary Guarantors and Non-Guarantor Subsidiaries under the Company's Senior Notes CIFC Corp. issued Senior Notes which are deemed publicly registered notes. As such, the Company is required to present condensed consolidating financial information for CIFC and its consolidated subsidiaries within the notes to the consolidated financial statements in accordance with the criteria established for parent companies in the SEC’s Regulation S-X, Rule 3-10(f). Obligations under the Senior Notes are fully and unconditionally guaranteed by CIFC and named guarantors (the “Guarantor”). Under the terms of the indenture, certain consolidated entities such as consolidated CLOs, warehouses and funds ("Investment Vehicles") do not guarantee the notes. Further, the indenture provides that so long as entities representing at least 90% of the Company’s consolidated total assets (other than assets represented by Investment Vehicles) are guarantors, the Company may designate entities within its corporate structure as non-guarantor entities ("Unrestricted Entities" and together with Investment Vehicles, "Non-Guarantors"). The following condensed consolidating financial information presents the Consolidating Balance Sheets, Statement of Operations, Comprehensive Income (Loss) and Cash Flows of the Guarantor, Non-Guarantor subsidiaries (or Investment Vehicles) and the eliminations necessary to arrive at the information for the Company on a consolidated basis as of March 31, 2016 and December 31, 2015 , and for each of the three months ended March 31, 2016 and 2015 . The principal elimination entries eliminate investments in subsidiaries and intercompany balances and transactions. Certain immaterial balances have been reclassified in the prior year financial statements to conform to the current year presentation (Note 2 ). Th e condensed consolidating financial information below assumes that the Senior Notes were guaranteed by CIFC as of January 1, 2015. Further, all Consolidated Entities are considered Non-Guarantor subsidiaries. Condensed Consolidating Balance Sheets (Unaudited) March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ 1,094 $ 382 $ 50,535 $ — $ — $ 52,011 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 159,177 — (81,830 ) 77,347 Intercompany investments in subsidiaries 177,449 104,281 113,497 — (395,227 ) — Receivables 154 3,546 7,909 — (2,684 ) 8,925 Prepaid and other assets — 1,172 1,645 — — 2,817 Deferred tax asset, net — 43,110 — — — 43,110 Equipment and improvements, net — — 4,562 — — 4,562 Intangible assets, net — 5,393 — — — 5,393 Goodwill — 66,549 9,451 — — 76,000 Subtotal 178,697 224,433 348,470 — (479,741 ) 271,859 Assets of Consolidated Entities: Restricted cash and cash equivalents — — — 80,592 — 80,592 Due from brokers — — — 24,293 — 24,293 Investments — — — 1,346,963 — 1,346,963 Receivables — — — 4,185 — 4,185 Prepaid and other assets — — — 187 — 187 Total assets of Consolidated Entities — — — 1,456,220 — 1,456,220 TOTAL ASSETS $ 178,697 $ 224,433 $ 348,470 $ 1,456,220 $ (479,741 ) $ 1,728,079 LIABILITIES Distributions payable $ 8,670 $ — $ — $ — $ — $ 8,670 Accrued and other liabilities 1,322 4,172 9,126 — (2,169 ) 12,451 Contingent liabilities — — 8,142 — — 8,142 Long-term debt — 156,237 — — — 156,237 Subtotal 9,992 160,409 17,268 — (2,169 ) 185,500 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — — 49,350 — 49,350 Accrued and other liabilities — — — 623 (394 ) 229 Interest payable — — — 4,595 (121 ) 4,474 Long-term debt — — — 1,360,255 (48,197 ) 1,312,058 Total Non-Recourse Liabilities of Consolidated Entities — — — 1,414,823 (48,712 ) 1,366,111 TOTAL LIABILITIES 9,992 160,409 17,268 1,414,823 (50,881 ) 1,551,611 EQUITY (Note 10) Common shares 25 1 — — (1 ) 25 Intercompany Preferred Units (1) — — 85,000 — (85,000 ) — Treasury shares (435 ) — — — — (435 ) Additional paid-in capital 994,771 885,377 662,399 — (1,547,781 ) 994,766 Retained earnings (deficit) (825,656 ) (821,354 ) (416,197 ) — 1,237,551 (825,656 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY 168,705 64,024 331,202 — (395,231 ) 168,700 Consolidated Fund Equity/Noncontrolling interests (Note 2) — — — 41,397 (33,629 ) 7,768 TOTAL EQUITY 168,705 64,024 331,202 41,397 (428,860 ) 176,468 TOTAL LIABILITIES AND EQUITY $ 178,697 $ 224,433 $ 348,470 $ 1,456,220 $ (479,741 ) $ 1,728,079 Explanatory Note: _________________________________ (1) CIFC Corp. holds 85.0 million of intercompany non-voting series A preferred units that bear an annual rate of 3.5% . Consolidating Balance Sheets (Unaudited) December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ — $ 1,392 $ 56,576 $ — $ — $ 57,968 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 152,455 — (81,759 ) 70,696 Intercompany investments in subsidiaries 170,174 120,896 61,004 — (352,074 ) — Receivables 785 295 27,242 — (21,247 ) 7,075 Prepaid and other assets — 1,621 352 — — 1,973 Deferred tax asset, net — 44,425 — — — 44,425 Equipment and improvements, net — — 4,866 — — 4,866 Intangible assets, net — 6,232 625 — — 6,857 Goodwill — 66,549 9,451 — — 76,000 Subtotal 170,959 241,410 314,265 — (455,080 ) 271,554 Assets of Consolidated Entities: Restricted cash and cash equivalents — — — 94,018 — 94,018 Due from brokers — — — 25,910 — 25,910 Investments — — — 1,351,403 — 1,351,403 Receivables — — — 4,109 — 4,109 Prepaid and other assets — — — 209 — 209 Total assets of Consolidated Entities — — — 1,475,649 — 1,475,649 TOTAL ASSETS $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 LIABILITIES Due to brokers $ — $ 61 $ — $ — $ — $ 61 Accrued and other liabilities 50 24,185 14,808 — (20,646 ) 18,397 Contingent liabilities — — 8,338 — — 8,338 Long-term debt — 156,161 — — — 156,161 Subtotal 50 180,407 23,146 — (20,646 ) 182,957 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — — 71,603 — 71,603 Accrued and other liabilities — — — 631 (438 ) 193 Interest payable — — — 5,257 (167 ) 5,090 Long-term debt — — — 1,357,095 (48,537 ) 1,308,558 Total Non-Recourse Liabilities of Consolidated Entities — — — 1,434,586 (49,142 ) 1,385,444 TOTAL LIABILITIES 50 180,407 23,146 1,434,586 (69,788 ) 1,568,401 EQUITY (Note 10) Common shares 25 25 — — (25 ) 25 Intercompany Preferred Units (1) — — 85,000 — (85,000 ) — Additional paid-in capital 992,425 992,419 528,946 — (1,521,371 ) 992,419 Retained earnings (deficit) (821,541 ) (931,441 ) (322,827 ) — 1,254,318 (821,491 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY 170,909 61,003 291,119 — (352,078 ) 170,953 Consolidated Fund Equity / Noncontrolling interests (Note 2) — — — 41,063 (33,214 ) 7,849 TOTAL EQUITY 170,909 61,003 291,119 41,063 (385,292 ) 178,802 TOTAL LIABILITIES AND EQUITY $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 Explanatory Note: _________________________________ (1) CIFC Corp. holds 85.0 million of intercompany non-voting series A preferred units that bear an annual rate of 3.5% . Consolidating Statements of Operations (Unaudited) For The Three Months Ended March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 21,521 $ — $ (1,706 ) $ 19,815 Interest income from investments — 744 3,217 — (3,028 ) 933 Interest income - Consolidated Entities — — — 18,990 — 18,990 Total net revenues — 744 24,738 18,990 (4,734 ) 39,738 Expenses Employee compensation and benefits — — 9,514 — — 9,514 Share-based compensation 130 130 2,121 — — 2,381 Professional services 308 885 879 — — 2,072 General and administrative expenses 132 644 1,741 — — 2,517 Depreciation and amortization — 839 457 — — 1,296 Impairment of intangible assets — — 531 — — 531 Corporate interest expense — 1,957 744 — (744 ) 1,957 Expenses - Consolidated Entities — — — 2,094 (1,706 ) 388 Interest expense - Consolidated Entities — — — 8,595 (175 ) 8,420 Total expenses 570 4,455 15,987 10,689 (2,625 ) 29,076 Other Gain (Loss) Net gain (loss) on investments — — 1,677 — (1,406 ) 271 Net gain (loss) on contingent liabilities — — (364 ) — — (364 ) Net gain (loss) on investments - Consolidated Entities — — — 2,600 — 2,600 Net gain (loss) on liabilities - Consolidated Entities — — — (10,487 ) 3,103 (7,384 ) Intercompany net gain (loss) on investments in subsidiaries 5,075 5,859 871 — (11,805 ) — Net other gain (loss) 5,075 5,859 2,184 (7,887 ) (10,108 ) (4,877 ) Income (loss) before income taxes 4,505 2,148 10,935 414 (12,217 ) 5,785 Income tax (expense) benefit — (1,278 ) — — — (1,278 ) Net income (loss) 4,505 870 10,935 414 (12,217 ) 4,507 Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (414 ) 412 (2 ) Net income (loss) attributable to CIFC LLC $ 4,505 $ 870 $ 10,935 $ — $ (11,805 ) $ 4,505 Consolidating Statements of Operations (Unaudited) For The Three Months Ended March 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 21,833 $ — $ (219 ) $ 21,614 Interest income from investments — — 2,736 — (129 ) 2,607 Interest income - Consolidated Entities — — 823 1,933 — 2,756 Total net revenues — — 25,392 1,933 (348 ) 26,977 Expenses Employee compensation and benefits — — 8,564 — — 8,564 Share-based compensation — 142 1,538 — — 1,680 Professional services — 1,078 848 — — 1,926 General and administrative expenses — 958 1,339 — — 2,297 Depreciation and amortization — 1,821 588 — — 2,409 Impairment of intangible assets — 281 — — — 281 Corporate interest expense — 494 — — — 494 Expenses - Consolidated Entities — — 15 1,472 (219 ) 1,268 Interest expense - Consolidated Entities — — 231 513 — 744 Total expenses — 4,774 13,123 1,985 (219 ) 19,663 Other Gain (Loss) Net gain (loss) on investments — — 939 — 254 1,193 Net gain (loss) on contingent liabilities — — (713 ) — — (713 ) Net gain (loss) on investments - Consolidated Entities — — 796 2,001 — 2,797 Net gain (loss) on liabilities - Consolidated Entities — — — (1,826 ) (434 ) (2,260 ) Net gain (loss) on other investments and derivatives - Consolidated Entities — — — 438 — 438 Intercompany net gain (loss) on investments in subsidiaries — 13,289 — — (13,289 ) — Net other gain (loss) — 13,289 1,022 613 (13,469 ) 1,455 Income (loss) before income taxes — 8,515 13,291 561 (13,598 ) 8,769 Income tax (expense) benefit — (3,087 ) — — — (3,087 ) Net income (loss) — 5,428 13,291 561 (13,598 ) 5,682 Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (561 ) 307 (254 ) Net income (loss) attributable to CIFC LLC $ — $ 5,428 $ 13,291 $ — $ (13,291 ) $ 5,428 Consolidating Statement of Comprehensive Income (Loss) (Unaudited) For The Three Months Ended March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ 4,505 $ 870 $ 10,935 $ 414 $ (12,217 ) $ 4,507 Other comprehensive income (loss) — — — — — — Comprehensive income (loss) 4,505 870 10,935 414 (12,217 ) 4,507 Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (414 ) 412 (2 ) Comprehensive income (loss) attributable to CIFC LLC $ 4,505 $ 870 $ 10,935 $ — $ (11,805 ) $ 4,505 Consolidating Statement of Comprehensive Income (Loss) (Unaudited) For The Three Months Ended March 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ — $ 5,428 $ 13,291 $ 561 $ (13,598 ) $ 5,682 Other comprehensive income (loss) — — — — — — Comprehensive income (loss) — 5,428 13,291 561 (13,598 ) 5,682 Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (561 ) 307 (254 ) Comprehensive income (loss) attributable to CIFC LLC $ — $ 5,428 $ 13,291 $ — $ (13,291 ) $ 5,428 Consolidating Statement of Cash Flows (Unaudited) For The Three Months Ended March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In Thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 4,505 $ 870 $ 10,935 $ 414 $ (12,217 ) $ 4,507 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 76 — — — 76 Share-based compensation 130 130 2,121 — — 2,381 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — (1,315 ) — 1,408 93 Intercompany net (gain) loss on investments in subsidiaries (5,075 ) (5,859 ) (871 ) — 11,805 — Depreciation and amortization — 839 457 — — 1,296 Impairment of intangible assets — — 531 — — 531 Deferred income tax expense (benefit) — 1,315 — — — 1,315 Excess tax benefits from share-based payment arrangements — 230 — — — 230 Consolidated Entities: Net (gain) loss on investments — — — (2,600 ) — (2,600 ) Net (gain) loss on liabilities — — — 10,487 (3,103 ) 7,384 Changes in operating assets and liabilities: Receivables 631 (3,120 ) 19,335 — (18,696 ) (1,850 ) Prepaid and other assets — 451 (1,299 ) — — (848 ) Due to brokers — (62 ) 1 — — (61 ) Accrued and other liabilities 1,142 (20,015 ) (5,194 ) — 18,606 (5,461 ) Consolidated Entities: Due from brokers — — — 1,616 — 1,616 Purchase of investments — — — (114,723 ) — (114,723 ) Sales of investments — — — 121,766 — 121,766 Receivables — — — (52 ) — (52 ) Due to brokers — — — (22,253 ) — (22,253 ) Accrued and other liabilities — — — (11 ) 43 32 Interest payable — — — (660 ) 44 (616 ) Net cash provided by (used in) operating activities 1,333 (25,145 ) 24,701 (6,016 ) (2,110 ) (7,237 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of investments — — (17,553 ) — 1,419 (16,134 ) Sales of investments — — 12,466 — (2,754 ) 9,712 Intercompany investments in subsidiaries — 22,474 (2,151 ) — (20,323 ) — Purchases of equipment and improvements — — (61 ) — — (61 ) Consolidated Entities: Change in restricted cash and cash equivalents — — — 13,426 — 13,426 Net cash provided by (used in) investing activities — 22,474 (7,299 ) 13,426 (21,658 ) 6,943 CASH FLOWS FROM FINANCING ACTIVITIES: Repurchases of common shares (435 ) — — — — (435 ) Intercompany contributions — 1,891 9,629 24 (11,544 ) — Intercompany distributions — — (32,073 ) (24 ) 32,097 — Proceeds from the exercise of options 241 — — — — 241 Payments for tax from the net delivery of restricted share units (45 ) — — — — (45 ) Payments on contingent liabilities — — (999 ) — — (999 ) Excess tax benefits from share-based payment arrangements — (230 ) — — — (230 ) Consolidated Entities: Distributions to noncontrolling interests — — — (83 ) — (83 ) Proceeds from issuance of long-term debt — — — 3,830 — 3,830 Payments made on long-term debt — — — (11,157 ) 3,215 (7,942 ) Net cash provided by (used in) financing activities (239 ) 1,661 (23,443 ) (7,410 ) 23,768 (5,663 ) Net increase (decrease) in cash and cash equivalents 1,094 (1,010 ) (6,041 ) — — (5,957 ) Cash and cash equivalents at beginning of period — 1,392 56,576 — — 57,968 Cash and cash equivalents at end of period $ 1,094 $ 382 $ 50,535 $ — $ — $ 52,011 Consolidating Statement of Cash Flows (Unaudited) For The Three Months Ended March 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ — $ 5,428 $ 13,291 $ 561 $ (13,598 ) $ 5,682 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 22 — — — 22 Share-based compensation — 142 1,538 — — 1,680 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — (225 ) — (255 ) (480 ) Intercompany net (gain) loss on investments in subsidiaries — (13,289 ) — — 13,289 — Depreciation and amortization — 1,821 588 — — 2,409 Impairment of intangible assets — 281 — — — 281 Deferred income tax expense (benefit) — (150 ) — — — (150 ) Excess tax benefits from share-based payment arrangements — (8 ) — — — (8 ) Consolidated Entities: Net (gain) loss on investments — — (796 ) (2,001 ) — (2,797 ) Net (gain) loss on liabilities — — — 1,826 434 2,260 Net other (gain) loss — — — (438 ) — (438 ) Changes in operating assets and liabilities: Due from brokers — — (974 ) — — (974 ) Receivables — 721 (3,163 ) — 2,903 461 Prepaid and other assets — 486 (1,489 ) — — (1,003 ) Due to brokers — — 6,245 — — 6,245 Accrued and other liabilities — 3,480 (7,920 ) — (2,514 ) (6,954 ) Consolidated Entities: Due from brokers — — 14,459 (4,111 ) — 10,348 Purchase of investments — — (55,017 ) (88,697 ) — (143,714 ) Sales of investments — — 47,462 21,677 — 69,139 Receivables — — (352 ) (86 ) — (438 ) Due to brokers — — (7,882 ) 55,950 — 48,068 Accrued and other liabilities — — 6 384 (390 ) — Interest payable — — (8 ) 18 — 10 Net cash provided by (used in) operating activities — (1,066 ) 5,763 (14,917 ) (131 ) (10,351 ) CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from the sale of management contracts — — — — — — Purchases of investments — — (78,632 ) — 65,439 (13,193 ) Sales of investments — — 57,449 — (22,148 ) 35,301 Intercompany investments in subsidiaries — (123,962 ) — — 123,962 — Intercompany distributions from subsidiaries — 123,962 — — (123,962 ) — Purchases of equipment and improvements — — (403 ) — — (403 ) Consolidated Entities: Change in restricted cash and cash equivalents — — 755 (55,628 ) — (54,873 ) Net cash provided by (used in) investing activities — — (20,831 ) (55,628 ) 43,291 (33,168 ) CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany contributions — — 123,962 — (123,962 ) — Intercompany distributions — — (123,962 ) — 123,962 — Proceeds from the exercise of options — 121 — — — 121 Payments for tax from the net delivery of restricted share units — (265 ) — — — (265 ) Payments on contingent liabilities — — (1,559 ) — — (1,559 ) Excess tax benefits from share-based payment arrangements — 8 — — — 8 Consolidated Entities: Contributions from noncontrolling interests — — — 14,712 (2,612 ) 12,100 Distributions to noncontrolling interests — — — (970 ) — (970 ) Proceeds from issuance of long-term debt — — — 73,777 10,323 84,100 Payments made on long-term debt — — — (16,974 ) (50,871 ) (67,845 ) Net cash provided by (used in) financing activities — (136 ) (1,559 ) 70,545 (43,160 ) 25,690 Net increase (decrease) in cash and cash equivalents — (1,202 ) (16,627 ) — — (17,829 ) Cash and cash equivalents at beginning of period — 2,156 57,134 — — 59,290 Cash and cash equivalents at end of period $ — $ 954 $ 40,507 $ — $ — $ 41,461	Note 18 —Financial Information for Subsidiary Guarantors and Non-Guarantor Subsidiaries under the Company's Senior Notes The Company is required to present condensed consolidating financial information for CIFC LLC and its consolidated subsidiaries within the notes to the consolidated financial statements in accordance with the criteria established for parent companies in the SEC’s Regulation S-X, Rule 3-10(f). During 2015 , CIFC Corp. issued Senior Notes that will be exchangeable for publicly registered notes with identical terms. Obligations under the Senior Notes are fully and unconditionally guaranteed by CIFC LLC and named guarantors (the “Guarantor”). Under the terms of the indenture, certain consolidated entities such as consolidated CLOs, warehouses and funds ("Investment Vehicles") do not guarantee the notes. Further, the indenture provides that entities representing at least 90% of the Company’s consolidated total assets (other than assets represented by Investment Vehicles) are guarantors, the Company may designate entities within its corporate structure as non-guarantor entities ("Unrestricted Entities" and together with Investment Vehicles, "Non-Guarantor"). The following condensed consolidating financial information presents the Consolidating Balance Sheets, Statement of Operations, Comprehensive Income (Loss) and Cash Flows of the Guarantor, Non-Guarantor subsidiaries (or Investment Vehicles) and the eliminations necessary to arrive at the information for the Company on a consolidated basis as of December 31, 2015 and 2014 , and for each year ended December 31, 2015 and 2014 . The principal elimination entries eliminate investments in subsidiaries and intercompany balances and transactions. Certain immaterial balances have been reclassified in the prior year financial statements to conform to the current year presentation (Note 2 ). Th e condensed consolidating financial information below assumes that the Senior Notes were guaranteed by CIFC LLC as of January 1, 2014. Further, all Consolidated Entities are considered Non-Guarantor subsidiaries. CIFC LLC AND ITS SUBSIDIARIES Consolidating Balance Sheets December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ — $ 1,392 $ 56,576 $ — $ — $ 57,968 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 152,455 — (81,759 ) 70,696 Intercompany investments in subsidiaries 170,174 35,896 61,004 — (267,074 ) — Intercompany investment in wholly-owned subsidiaries of CIFC LLC (Note 16) — 85,000 — — (85,000 ) — Receivables 785 295 27,242 — (21,247 ) 7,075 Prepaid and other assets — 1,621 352 — — 1,973 Deferred tax asset, net — 44,425 — — — 44,425 Equipment and improvements, net — — 4,866 — — 4,866 Intangible assets, net — 6,232 625 — — 6,857 Goodwill — 66,549 9,451 — — 76,000 Subtotal 170,959 241,410 314,265 — (455,080 ) 271,554 Assets of Consolidated Entities: Restricted cash and cash equivalents — — — 94,018 — 94,018 Due from brokers — — — 25,910 — 25,910 Investments — — — 1,351,403 — 1,351,403 Receivables — — — 4,109 — 4,109 Prepaid and other assets — — — 209 — 209 Total assets of Consolidated Entities — — — 1,475,649 — 1,475,649 TOTAL ASSETS $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 LIABILITIES Due to brokers $ — $ 61 $ — $ — $ — $ 61 Accrued and other liabilities 50 24,185 14,808 — (20,646 ) 18,397 Contingent liabilities — — 8,338 — — 8,338 Long-term debt — 156,161 — — — 156,161 Subtotal 50 180,407 23,146 — (20,646 ) 182,957 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — — 71,603 — 71,603 Accrued and other liabilities — — — 631 (438 ) 193 Interest payable — — — 5,257 (167 ) 5,090 Long-term debt — — — 1,357,095 (48,537 ) 1,308,558 Total Non-Recourse Liabilities of Consolidated Entities — — — 1,434,586 (49,142 ) 1,385,444 TOTAL LIABILITIES 50 180,407 23,146 1,434,586 (69,788 ) 1,568,401 EQUITY Common shares, par value $0.001: 500,000,000 shares authorized, 25,314,756 issued and 25,314,756 outstanding as of December 31, 2015 25 25 — — (25 ) 25 Intercompany Preferred Units (Note 16) — — 85,000 — (85,000 ) — Treasury shares, at cost: 130,444 shares as of December 31, 2014 — — — — — Additional paid-in capital 992,425 992,419 528,946 — (1,521,371 ) 992,419 Retained earnings (deficit) (821,541 ) (931,441 ) (322,827 ) — 1,254,318 (821,491 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY 170,909 61,003 291,119 — (352,078 ) 170,953 Consolidated Fund Equity / Noncontrolling interests (Note 2) — — — 41,063 (33,214 ) 7,849 TOTAL EQUITY 170,909 61,003 291,119 41,063 (385,292 ) 178,802 TOTAL LIABILITIES AND EQUITY $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 CIFC LLC AND ITS SUBSIDIARIES Consolidating Balance Sheets December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ — $ 2,156 $ 57,134 $ — $ — $ 59,290 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 80,115 — (41,416 ) 38,699 Intercompany investments in subsidiaries 156,053 — — (156,053 ) — Receivables — 721 5,759 — (4,345 ) 2,135 Prepaid and other assets — 2,106 179 — — 2,285 Deferred tax asset, net — 55,475 — — — 55,475 Equipment and improvements, net — — 5,194 — — 5,194 Intangible assets, net — 13,275 1,799 — — 15,074 Goodwill — 66,550 9,450 — — 76,000 Subtotal — 296,336 161,324 — (201,814 ) 255,846 Assets of Consolidated Entities: Restricted cash and cash equivalents — — 6,872 928,544 — 935,416 Due from brokers — — 36,645 83,896 — 120,541 Investments — — 44,083 11,728,743 11,772,826 Receivables — — 281 40,713 — 40,994 Prepaid and other assets — — — 20,682 — 20,682 Total assets of Consolidated Entities — — 87,881 12,802,578 — 12,890,459 TOTAL ASSETS $ — $ 296,336 $ 249,205 $ 12,802,578 $ (201,814 ) $ 13,146,305 LIABILITIES Accrued and other liabilities — 1,846 13,738 — — 15,584 Contingent liabilities — — 12,668 — — 12,668 Long-term debt — 118,170 — — — 118,170 Subtotal — 120,016 26,406 — — 146,422 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — 15,583 375,708 — 391,291 Accrued and other liabilities — — — 5,825 (4,343 ) 1,482 Interest payable — — 163 36,013 (2 ) 36,174 Long-term debt — — 51,000 12,023,272 (25,238 ) 12,049,034 Total Non-Recourse Liabilities of Consolidated Entities — — 66,746 12,440,818 (29,583 ) 12,477,981 TOTAL LIABILITIES — 120,016 93,152 12,440,818 (29,583 ) 12,624,403 EQUITY Common shares, par value $0.001: 500,000,000 shares authorized, 25,323,417 issued and 25,192,973 outstanding as of December 31, 2014 — 25 — — — 25 Treasury shares, at cost: 130,444 shares as of December 31, 2014 — (914 ) — — — (914 ) Additional paid-in capital — 988,904 591,518 — (591,518 ) 988,904 Retained earnings (deficit) — (811,695 ) (435,465 ) — 435,465 (811,695 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY — 176,320 156,053 — (156,053 ) 176,320 Consolidated Fund Equity/Noncontrolling interests (Note 2) — — — 226,996 (16,178 ) 210,818 Appropriated retained earnings (deficit) of Consolidated VIEs (Note 3) — — — 134,764 134,764 TOTAL EQUITY — 176,320 156,053 361,760 (172,231 ) 521,902 TOTAL LIABILITIES AND EQUITY $ — $ 296,336 $ 249,205 $ 12,802,578 $ (201,814 ) $ 13,146,305 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statements of Operations For The Year Ended December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 96,765 $ — $ (4,686 ) $ 92,079 Interest income from investments — — 6,564 — (1,231 ) 5,333 Interest income - Consolidated Entities — — 823 24,283 — 25,106 Total net revenues — — 104,152 24,283 (5,917 ) 122,518 Expenses Employee compensation and benefits — — 32,027 — — 32,027 Share-based compensation — 299 5,251 — — 5,550 Professional services 50 6,411 3,474 — — 9,935 General and administrative expenses — 3,392 6,530 — — 9,922 Depreciation and amortization — 5,543 2,234 — — 7,777 Impairment of intangible assets — 1,501 327 — — 1,828 Corporate interest expense — 3,808 — — — 3,808 Expenses - Consolidated Entities — — 15 15,448 (4,689 ) 10,774 Interest expense - Consolidated Entities — — 232 9,839 (167 ) 9,904 Total expenses 50 20,954 50,090 25,287 (4,856 ) 91,525 Other Gain (Loss) Net gain (loss) on investments — — (6,071 ) — 1,890 (4,181 ) Net gain (loss) on contingent liabilities — — (2,210 ) — — (2,210 ) Net gain (loss) on investments - Consolidated Entities — — 796 (26,910 ) — (26,114 ) Net gain (loss) on liabilities - Consolidated Entities — — — 26,147 (1,401 ) 24,746 Net gain (loss) on other investments and derivatives - Consolidated Entities — — — 2,970 — 2,970 Intercompany net gain (loss) on investments in subsidiaries — 46,577 — — (46,577 ) — Net other gain (loss) — 46,577 (7,485 ) 2,207 (46,088 ) (4,789 ) Income (loss) before income taxes (50 ) 25,623 46,577 1,203 (47,149 ) 26,204 Income tax (expense) benefit — (25,239 ) — — — (25,239 ) Net income (loss) (50 ) 384 46,577 1,203 (47,149 ) 965 Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (1,203 ) 572 (631 ) Net income (loss) attributable to CIFC LLC $ (50 ) $ 384 $ 46,577 $ — $ (46,577 ) $ 334 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statements of Operations For The Year Ended December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 84,201 $ — $ (79,333 ) $ 4,868 Interest income from investments — 1 10,341 — (9,552 ) 790 Interest income - Consolidated Entities — — 2,387 514,865 — 517,252 Total net revenues — 1 96,929 514,865 (88,885 ) 522,910 Expenses Employee compensation and benefits — — 28,805 — — 28,805 Share-based compensation — 274 2,418 — — 2,692 Professional services — 3,964 3,295 — — 7,259 General and administrative expenses — 3,523 7,163 — — 10,686 Depreciation and amortization — 8,512 2,909 — — 11,421 Corporate interest expense — 3,915 321 — — 4,236 Expenses - Consolidated Entities — — 1,025 118,383 (79,334 ) 40,074 Interest expense - Consolidated Entities — — 425 171,513 (7 ) 171,931 Total expenses — 20,188 46,361 289,896 (79,341 ) 277,104 Other Gain (Loss) Net gain (loss) on investments — — 3,664 — (1,190 ) 2,474 Net gain (loss) on contingent liabilities — — (2,932 ) — — (2,932 ) Net gain (loss) on investments - Consolidated Entities — — (803 ) (227,974 ) — (228,777 ) Net gain (loss) on liabilities - Consolidated Entities — — — (18,123 ) 9,127 (8,996 ) Net gain (loss) on other investments and derivatives - Consolidated Entities — — — 2,031 — 2,031 Intercompany net gain (loss) on investments in subsidiaries — 50,726 — — (50,726 ) — Net gain on sale of management contract — — 229 — — 229 Net other gain (loss) — 50,726 158 (244,066 ) (42,789 ) (235,971 ) Income (loss) before income taxes — 30,539 50,726 (19,097 ) (52,333 ) 9,835 Income tax (expense) benefit — (22,158 ) — — — (22,158 ) Net income (loss) — 8,381 50,726 (19,097 ) (52,333 ) (12,323 ) Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — 19,097 1,607 20,704 Net income (loss) attributable to CIFC LLC $ — $ 8,381 $ 50,726 $ — $ (50,726 ) $ 8,381 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Comprehensive Income (Loss) For The Year Ended December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ (50 ) $ 384 $ 46,577 $ 1,203 $ (47,149 ) $ 965 Other comprehensive income (loss) — — — — — — Comprehensive income (loss) (50 ) 384 46,577 1,203 (47,149 ) 965 Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (1,203 ) 572 (631 ) Comprehensive income (loss) attributable to CIFC LLC $ (50 ) $ 384 $ 46,577 $ — $ (46,577 ) $ 334 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Comprehensive Income (Loss) For The Year Ended December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ — $ 8,381 $ 50,726 $ (19,097 ) $ (52,333 ) $ (12,323 ) Other comprehensive income (loss) — — — — — — Comprehensive income (loss) — 8,381 50,726 (19,097 ) (52,333 ) (12,323 ) Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — 19,097 1,607 20,704 Comprehensive income (loss) attributable to CIFC LLC $ — $ 8,381 $ 50,726 $ — $ (50,726 ) $ 8,381 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Cash Flows For The Year Ended December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In Thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (50 ) $ 384 $ 46,577 $ 1,203 $ (47,149 ) $ 965 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 125 — — — 125 Share-based compensation — 299 5,251 — — 5,550 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — 8,281 — (1,890 ) 6,391 Intercompany net (gain) loss on investments in subsidiaries — (46,577 ) — 46,577 — Depreciation and amortization — 5,543 2,234 — — 7,777 Impairment of intangible assets — 1,501 327 — — 1,828 Deferred income tax expense (benefit) — 11,050 — — — 11,050 Excess tax benefits from share-based payment arrangements — 128 — — — 128 Consolidated Entities: Net (gain) loss on investments — — (796 ) 26,910 — 26,114 Net (gain) loss on liabilities — — — (26,147 ) 1,401 (24,746 ) Net other (gain) loss — — — (2,970 ) — (2,970 ) Changes in operating assets and liabilities: Receivables (785 ) 424 (21,480 ) (245 ) 21,179 (907 ) Prepaid and other assets — 481 (168 ) — — 313 Due to brokers — 61 — — — 61 Accrued and other liabilities 50 22,219 (1,928 ) — (20,649 ) (308 ) Consolidated Entities: Due from brokers — — 36,645 (27,647 ) — 8,998 Purchase of investments — — (55,017 ) (951,887 ) — (1,006,904 ) Sales of investments — — 99,895 371,805 — 471,700 Receivables — — 281 (1,618 ) — (1,337 ) Due to brokers — — (15,583 ) 59,008 — 43,425 Accrued and other liabilities — — — 460 (373 ) 87 Interest payable — — (163 ) 2,622 (167 ) 2,292 Net cash provided by (used in) operating activities (785 ) (4,362 ) 104,356 (548,506 ) (1,071 ) (450,368 ) CASH FLOWS FROM INVESTING ACTIVITIES: — Purchases of investments — — (232,539 ) — 166,008 (66,531 ) Sales of investments — — 154,179 9,660 (94,977 ) 68,862 Intercompany investments in subsidiaries — (148,422 ) — — 148,422 — Intercompany distributions from subsidiaries 785 125,404 — — (126,189 ) — Purchases of equipment and improvements — — (1,059 ) — — (1,059 ) Consolidated Entities: Change in restricted cash and cash equivalents — — 6,871 (48,005 ) — (41,134 ) Net cash provided by (used in) investing activities 785 (23,018 ) (72,548 ) (38,345 ) 93,264 (39,862 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of long-term debt — 40,000 — — — 40,000 Debt issuance cost — (2,133 ) — — — (2,133 ) Repurchases of common shares — (1,151 ) — — — (1,151 ) Distributions paid — (10,130 ) — — — (10,130 ) Intercompany contributions — — 148,422 — (148,422 ) — Intercompany distributions — — (126,189 ) — 126,189 — Proceeds from extension of warrants — 350 — — — 350 Proceeds from the exercise of options — 74 — — — 74 Payments for tax from the net delivery of restricted stock units — (266 ) — — — (266 ) Deferred purchase payments and payments on contingent liabilities — — (3,599 ) — — (3,599 ) Excess tax benefits from share-based payment arrangements — (128 ) — — — (128 ) Consolidated Entities: Contributions from noncontrolling interests — — — 37,741 (21,641 ) 16,100 Distributions to noncontrolling interests — — — (15,307 ) — (15,307 ) Proceeds from issuance of long-term debt — — — 809,695 (173,772 ) 635,923 Payments made on long-term debt — — (51,000 ) (245,278 ) 125,453 (170,825 ) Net cash provided by (used in) financing activities — 26,616 (32,366 ) 586,851 (92,193 ) 488,908 Net increase (decrease) in cash and cash equivalents — (764 ) (558 ) — — (1,322 ) Cash and cash equivalents at beginning of period — 2,156 57,134 — — 59,290 Cash and cash equivalents at end of period $ — $ 1,392 $ 56,576 $ — $ — $ 57,968 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Cash Flows For The Year Ended December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ — $ 8,381 $ 50,726 $ (19,097 ) $ (52,333 ) $ (12,323 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 696 321 — — 1,017 Share-based compensation — 274 2,418 — — 2,692 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — (731 ) — 1,189 458 Intercompany net (gain) loss on investments in subsidiaries — (50,726 ) — — 50,726 — Depreciation and amortization — 8,512 2,909 — — 11,421 Deferred income tax expense (benefit) — 3,932 — — — 3,932 Excess tax benefits from share-based payment arrangements — (171 ) — — — (171 ) Net gain on the sale of management contract — — (229 ) — — (229 ) Consolidated Entities: Net (gain) loss on investments — — 803 227,974 — 228,777 Net (gain) loss on liabilities — — — 18,123 (9,127 ) 8,996 Net other (gain) loss — — (2,031 ) — (2,031 ) Changes in operating assets and liabilities: Due from brokers — — 13,827 (995 ) — 12,832 Receivables — (721 ) 441 17 243 (20 ) Prepaid and other assets — 361 43 222 — 626 Due to brokers — — (508 ) (4,991 ) — (5,499 ) Accrued and other liabilities — (666 ) 2,246 (271 ) 269 1,578 Change in restricted cash and cash equivalents — 1,615 (1,608 ) — 7 Consolidated Entities: Due from brokers — — (36,645 ) 160,765 — 124,120 Purchase of investments — — (102,448 ) (8,715,405 ) — (8,817,853 ) Sales of investments — — 57,563 7,331,128 13,761 7,402,452 Receivables — — (281 ) (24,613 ) 1 (24,893 ) Due to brokers — — 15,583 (220,939 ) (13,761 ) (219,117 ) Accrued and other liabilities — — — 1,653 (508 ) 1,145 Interest payable — — 163 13,647 (3 ) 13,807 Net cash provided by (used in) operating activities — (28,513 ) 4,593 (1,234,813 ) (9,543 ) (1,268,276 ) CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from the sale of management contracts — — 229 — 229 Purchases of investments — — (136,136 ) 15,735 91,257 (29,144 ) Sales of investments — — 172,819 1,001 (153,336 ) 20,484 Intercompany investments in subsidiaries — (440,277 ) — — 440,277 — Intercompany distributions from subsidiaries — 478,341 — — (478,341 ) — Purchases of equipment and improvements — — (2,204 ) — — (2,204 ) Consolidated Entities: Change in restricted cash and cash equivalents — — (6,873 ) (206,021 ) — (212,894 ) Net cash provided by (used in) investing activities — 38,064 27,835 (189,285 ) (100,143 ) (223,529 ) CASH FLOWS FROM FINANCING ACTIVITIES: Distributions paid — (9,218 ) — — — (9,218 ) Intercompany contributions — — 440,277 — (440,277 ) — Intercompany distributions — — (478,341 ) — 478,341 — Proceeds from extension of warrants — 200 — — 200 Proceeds from the exercise of options — 580 — — — 580 Deferred purchase payments and payments on contingent liabilities — — (8,724 ) — — (8,724 ) Excess tax benefits from share-based payment arrangements — 171 — — — 171 Consolidated Entities: Contributions from noncontrolling interests — — — 93,587 (100 ) 93,487 Distributions to noncontrolling interests — — — (37,783 ) 10,685 (27,098 ) Proceeds from issuance of long-term debt — — 51,000 4,702,304 (112,323 ) 4,640,981 Payments made on long-term debt — — — (3,338,141 ) 173,360 (3,164,781 ) Net cash provided by (used in) financing activities — (8,267 ) 4,212 1,419,967 109,686 1,525,598 Net increase (decrease) in cash and cash equivalents — 1,284 36,640 (4,131 ) — 33,793 Cash and cash equivalents at beginning of period 872 20,494 4,131 — 25,497 Cash and cash equivalents at end of period $ — $ 2,156 $ 57,134 $ — $ — $ 59,290

SUBSEQUENT EVENTS (Notes)87

SUBSEQUENT EVENTS (Notes)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Subsequent Events Subsequent to quarter end, the Company's board of directors declared a cash distribution of $0.25 per share, composed of a $0.10 per share quarterly distribution and a $0.15 per share special distribution. The distribution will be paid on May 24, 2016 to shareholders of record as of the close of business on May 17, 2016 . On April 28, 2016, the Dissenting Shareholders filed an appraisal petition with the Delaware Court. The Dissenting Shareholders may (i) be paid the fair value of the Dissenting Shares as determined by the Delaware Courts or (ii) settle upon terms agreed to by the parties.	Subsequent Events Subsequent to year end, the Company's board of directors declared an aggregate cash distribution of $0.34 per share; composed of a quarterly cash distribution of $0.10 per share and a special distribution of $0.24 per share issued in order to defray a portion of the U.S. Federal income tax liability of shareholders arising from the Reorganization Transaction. The distribution will be paid on April 15, 2016 to shareholders of record as of the close of business on April 1, 2016 .

ORGANIZATION AND BUSINESS SEGME

ORGANIZATION AND BUSINESS SEGMENT (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Segment Reporting, Policy [Policy Text Block]	Management internally views and manages the business as one reportable segment. The Company operates as a single operating segment as managed by CIFC's Co-Presidents, who are considered the Company's chief operating decision makers ("CODM"). The CODM bears the ultimate responsibility for, and is actively engaged in, the allocation of resources and the evaluation of the Company's operating and financial results. The Company has concluded that CIFC has a single operating segment based on the following: • The Company is managed under a functionally-based organizational structure with the head of each function reporting directly to the CODM; • The Company's CODM allocates resources and makes other operating decisions based on specific business opportunities; and • The Company has an integrated investment process through which the Investment Research, Portfolio Management and Trading teams support all the products that the Company offers.

SUMMARY OF SIGNIFICANT ACCOUN89

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING UPDATES (Policies)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]		Consolidation — VIEs —In February 2015, the Financial Accounting Standards Board ("FASB") issued ASU 2015-02. The amendments changed the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. As of September 30, 2015, the Company elected to early adopt this guidance on a modified retroactive basis (as of January 1, 2015) (see below). Under the consolidation guidelines, the Company evaluates whether (a) it holds a variable interest in an entity, (b) the entity is a variable interest entity ("VIE") and (c) the Company is the primary beneficiary ("PB") of the VIE. An entity is a VIE if it meets any of the following criteria: total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated support; holders of equity investment at risk (as a group) lack the power to direct the activities of the entity that significantly impact economic performance or the obligation to absorb losses or right to receive residual returns of the entity; and voting rights of some investors are disproportionate to their obligation to absorb losses/receive returns and substantially all of the activities are on behalf of the investor with disproportionately few voting rights. Further a reporting entity is deemed to be the PB if (i) it has the power to direct the activities of the entity that most significantly impact the economic performance ("power criteria") and (ii) it holds a controlling financial interest ("economic criteria"). Generally, the Company determines whether it is the PB of a VIE through a qualitative assessment; however, when deemed necessary, a quantitative assessment may also be performed. This consolidation assessment is performed upon inception of the relationship and reconsidered when certain events have occurred. Prior to the adoption of ASU 2015-02, incentive or performance fees received by the Company for its investment management services were considered variable interests. Pursuant to the adoption of ASU 2015-02, incentive or performance fees that are customary and commensurate of the level of services provided, and where the Company does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, would not be considered variable interests. As such, certain CLOs, CDOs and warehouses, where the Company held direct interests or indirect interests through related parties, were considered variable interests and a consolidation analysis was performed. Further, CLOs, CDOs and warehouses generally meet the VIE criteria as they have minimal equity at risk. For CLOs, the Company's investment management services meet the power criteria of the PB consideration. In certain cases, when it was determined that the Company's investment in the CLO was significant, the Company met the economic criteria and consolidated the CLO. To determine significance, the Company evaluated its right to receive and obligation to absorb the VIE's expected future gains and losses. The expected future gains and losses of the VIE are determined based on an internally developed discounted cash flows model that utilizes both observable and unobservable inputs. Significant inputs to the models include the structure of the VIE and estimates related to loan default rates, recovery rates, projected call dates, prepayment rates and discount rates. As of December 31, 2015 and January 1, 2015 (adoption date), the Company consolidated 2 and 1 CLO(s), respectively, for which it was deemed to be the PB. For warehouses, where the Company's investment management services meet the power criteria and where the Company contributes significant equity to a warehouse, the Company may meet both the power and economic criterion and consolidate the warehouse. As of December 31, 2015 , the Company did not consolidate any warehouses and as of January 1, 2015 (adoption date), the Company consolidated 1 warehouse. However, during the twelve months ended December 31, 2015 , the Company consolidated 2 warehouses which were opened and closed during the reporting period. Upon adoption of the new consolidation rules, the granting of substantive kick-out rights is a key consideration in determining whether a limited partnership, or similar entity, is a VIE and whether or not that entity should be consolidated. Consequently, the adoption of ASU 2015-02, resulted in the deconsolidation of the Senior Secured Corporate Loan Fund (see Note 2 ). Entities that do not qualify as VIEs are generally assessed for consolidation as voting interest entities under the voting interest model (see below). Performance of these consolidation assessments requires the exercise of judgment. Consolidation — VOEs —The Company consolidates all entities that it controls through a majority voting interest (or "VOE"). Appropriated Retained Earnings (Deficit) of Consolidated VIEs— Prior to the adoption of ASU 2014-13 (see below), appropriated retained earnings (deficit) of Consolidated VIEs represented the excess fair value of the Consolidated CLO or CDOs' assets over the Consolidated CLO or CDOs' liabilities upon initial consolidation and was subsequently adjusted each reporting period for the net income (loss) attributable to the Consolidated VIEs.
Noncontrolling Interest Disclosure [Text Block]		Non-Controlling Interests in Consolidated Funds— “Noncontrolling interests in Consolidated Funds” represents the component of equity in Consolidated Funds held by third party investors. During each reporting period, these interests are adjusted by the third party's performance allocation and additional subscriptions or redemptions as permitted by the applicable governing agreement(s). The third party’s performance is reported in “Net (income) loss attributable to noncontrolling interests in Consolidated Entities.”
Business Combinations Policy [Policy Text Block]		Business Combinations —Upon the acquisition of a business, the Company records all assets acquired and liabilities assumed at their estimated fair values, including intangible assets and goodwill. Strategic transaction related costs are expensed as incurred.
Goodwill and Intangible Assets, Intangible Assets, Indefinite-Lived, Policy [Policy Text Block]		Intangible Assets —The Company's intangible assets consist primarily of contractual rights to earn future management fees from CLOs. The Company determined that all intangible assets held are comprised of assets with finite lives and are amortized on a straight line basis or based on a ratio of expected discounted cash flows of the contracts. Intangible assets with finite lives are tested for impairment if events or changes in circumstances indicate that the assets may not be recoverable. If the Company determines the carrying value of an intangible asset is not recoverable it will record an impairment charge to the extent its carrying value exceeds its estimated fair value. Impairments of intangible assets are recorded in "Impairment of intangible assets" on the Consolidated Statements of Operations. See Note 9 for further details. Goodwill —The excess of the cost of an acquired entity over the net of the amounts assigned to assets acquired (including identifiable intangible assets) and liabilities assumed is recorded as goodwill. Goodwill represents the excess cost of a business acquisition over the fair value of the net assets acquired and is not amortized. Goodwill has been recognized as a result of strategic mergers and acquisitions. The Company reviews goodwill periodically, at least on an annual basis on November 30th of each year, to determine whether the carrying value of goodwill is impaired. If goodwill is deemed to be impaired, the difference between the carrying amount reflected in the Consolidated Financial Statements and the estimated fair value is recognized as an expense in the period in which the impairment occurs. The Company has one reporting unit for which goodwill is tested for impairment. See Note 9 for further details. Contingent Consideration and Contingent Liabilities —Contingent consideration and contingent liabilities assumed in business combinations are recorded at fair value and measured at fair value at each reporting date with changes in fair value recorded within "Net gain (loss) on contingent liabilities" on the Consolidated Statements of Operations. See Note 10 for further details.
Fair Value Measurement, Policy [Policy Text Block]		Fair Value Measurements and Presentation —The Company categorizes its financial instruments carried at fair value into a three-level fair value hierarchy based on the transparency of the inputs to the valuation of the asset or liability as of the measurement date. A financial instrument’s categorization within the valuation hierarchy is determined by the lowest level of input that is significant to the fair value measurement. The assessment of significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument. The three levels are defined as follows: • Level 1 —inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Financial instruments included in Level 1 are generally equity securities or derivatives listed on an exchange with active markets. The Company held no Level 1 financial instruments during the periods presented. • Level 2 —inputs to the valuation methodology include quoted prices for similar financial instruments in active markets, quoted prices for identical financial instruments in inactive markets, and inputs that are observable for the financial instrument, either directly or indirectly, for substantially the full term of the financial instrument. The Company's financial instruments generally included in this category are loans where asset valuations are provided by third-party pricing services (loan valuations provided by third-party pricing services based on a composite price determined using fewer than two quotes are classified as Level 3), corporate bonds and investments in CLOs and CDOs where asset valuations are provided by third-party pricing services, and total return swaps on warehouses. • Level 3 —inputs to the valuation methodology include significant unobservable inputs to the fair value measurement. This includes situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. The Company's financial instruments generally included in this category are corporate bonds, investments in CLOs, CDOs and loans where valuations are provided by third-party pricing services based on a composite price determined using fewer than two quotes, loans where asset valuations are not provided by third-party pricing services and whose fair value is determined using the Company's comparable companies pricing model or other pricing models, warrants, long-term debt of the Consolidated CLOs (including the subordinated notes). Long-term debt of the Consolidated VIEs is no longer measured using a third-party pricing service due to the adoption of ASU 2014-13 effective January 1, 2015 (see below). Determination of Fair Values —Fair value is the price a market participant would receive in the sale of an asset, or pay to transfer a liability, in an orderly transaction at the measurement date. Where available, fair value is based on observable market prices or parameters or is derived from such prices or parameters. Where observable prices or inputs are not available, valuation models are utilized. These valuation models involve estimation and judgment, the degree of which is dependent on both the price transparency for the instruments or market and the instruments’ complexity. Assets and liabilities recorded at fair value in the Consolidated Financial Statements are categorized for disclosure purposes based on the level of judgment associated with the inputs used to measure their value as described above. Transfers between levels of the fair value hierarchy are recognized at the end of the reporting period. Many financial instruments have bid and ask prices that can be observed in the marketplace. Bid prices reflect the highest price that market participants are willing to pay for an asset. Ask prices represent the lowest price market participants are willing to accept for an asset. For financial instruments whose inputs are based on bid-ask prices, the Company's policy is to take the mid-point in the bid-ask spread to value these financial instruments as a practical expedient for determining fair value permissible under the guidance. Fair value is a market-based measure considered from the perspective of the market participant who holds the asset or owes the liability rather than an entity-specific measure. Therefore, when market assumptions are not readily available, assumptions are set to reflect those that the Company believes market participants would use in pricing the financial instrument at the measurement date. The availability of observable inputs can vary depending on the financial instrument and is affected by a variety of factors, including, for example, the type of product, age of the product, whether the product is traded on an active exchange or in the secondary market and, current market conditions. Determinations of fair value require more judgment to the extent that the valuation is based on inputs that are either less observable or unobservable in the market. Accordingly, the degree of judgment exercised in determining fair value is greatest for financial instruments classified as Level 3. The fair value process is monitored by the Valuation Committee. The Valuation Committee is chaired by the Co-President and the Chief Investment Officer and is comprised of investment, finance, and portfolio control professionals. The purpose of the committee is to oversee the pricing policy and procedures by ensuring objective and reliable valuation practices and pricing of financial instruments, as well as addressing fair valuation issues and approving changes to valuation methodologies and pricing sources. Meetings are held at least quarterly to discuss and analyze the significant assumptions utilized in the Company's internally developed models and to review the valuations provided by third-party pricing services for reasonableness. The Company engages reputable third-party pricing services and regularly reviews the valuation methodologies provided by those third-party pricing services to ensure the fair value measurement provided by those services.
Fair Value of Financial Instruments, Policy [Policy Text Block]		Fair Value Option —The Company has elected the fair value option for (i) its investments in the CLO, warehouses and credit funds it manages and (ii) the financial assets and the financial liabilities of the Consolidated Entities. For investments in CLO, warehouse and credit funds where the Company is not required to consolidate, the unrealized appreciation or depreciation and realized gains and losses on the investments are recorded in the Consolidated Statements of Operations within "Net gain (loss) on investments." For Consolidated Entities, prior to the adoption of ASU 2014-13, the measurement difference between the fair value of the financial assets and the fair value of the financial liabilities resulted in net gains (losses) that were reported in the Company's consolidated operating results. Unrealized appreciation or depreciation and realized gains and losses on assets and liabilities of Consolidated VIEs were recorded in the Consolidated Statements of Operations within "Net gain (loss) on Investments-Consolidated Entities" and "Net gain (loss) on Liabilities-Consolidated Entities." The adoption of the new measurement guidance eliminated the non-economic measurement differences and the associated income volatility. Financial Instruments held by Consolidated VIEs —Prior to the adoption of ASU 2014-13 (as defined below), the Company elected the fair value option for the consolidated assets and liabilities of the CLOs and warehouses. These assets are considered trading securities and therefore are not held at amortized cost. Accordingly, the measurement difference between the fair value of the financial assets and the fair value of the financial liabilities resulted in net gains (losses) that were reported in the Company's Consolidated Statements of Operations within "Net gain (loss) on Investments-Consolidated Entities" and "Net gain (loss) on Liabilities-Consolidated Entities." Upon adoption of ASU 2014-13, the Company has elected to use the measurement alternative for measuring financial assets and financial liabilities of the Company's CLOs and warehouses. The Company determined that financial assets of its CLOs and warehouses are generally more observable. The assets underlying the Company's managed CLOs and warehouses are SSCLs which are generally traded on an active over-the-counter system where generally multiple broker quotes can be obtained at the measurement date. The CLO debt market is also actively traded; however, quotations are available on a limited scale in comparison to the financial assets. Further, there is no active market for warehouse debt. As a result, the financial assets of the consolidated CLOs and warehouses are measured at fair value and the financial liabilities are measured in consolidation as: (1) the sum of the fair value of the financial assets and the carrying value of any non-financial assets that are incidental to the operations of the CLOs less (2) the sum of the fair value of any beneficial interests retained by the reporting entity (other than those that represent compensation for services) and the Company’s carrying value of any beneficial interests that represent compensation for services. The resulting amount is allocated to the individual financial liabilities (other than the beneficial interest retained by the Company). ASU 2014-13 was applied on a modified retroactive basis (as of January 1, 2015) (see below). Under the measurement alternative, the Company’s Consolidated Statement of Operations reflects the Company’s economic interests in the consolidated CLOs and warehouses including (i) changes in the fair value of the beneficial interests retained by the Company and (ii) beneficial interests that represent compensation for its investment management services.
Revenue Recognition, Policy [Policy Text Block]		Revenue Recognition — Management and Incentive Fees —The Company earns management and incentive fees from the Funds it manages. These management fees are paid periodically in accordance with the terms of the individual management agreements for as long as the Company manages the Funds. The management fees paid to the Company by these Funds are the Company's primary source of revenue. Management fees typically consist of fees based on the amount of assets held in the Funds. Management fees are recognized as revenue when earned. The Company does not recognize incentive fees until all contingencies have been removed. Revenue Recognition — Interest Income from Investments —From time to time, the Company will invest in investment products it manages. “Interest income from investments” includes interest revenue from these investments and a portion of equity distributions earned from the Company’s investment in the residual interests of CLOs. For the CLOs and warehouses that the Company does not consolidate, interest income is recognized using the effective interest method and reported in "Interest income from investments" on the Condensed Consolidated Statement of Operations. Interest income on consolidated CLOs/warehouses is reported on the Condensed Consolidated Statements of Operations in "Interest income-Consolidated Entities" (Note 6 ). Consolidated Entities’ Assets — Receivables/Revenues —Interest income is accrued regularly on the SSCLs held by the Consolidated Entities. The Company has elected to account for all assets of the Consolidated Entities under the fair value option. At the end of each reporting period, past due or non-accrual status receivables (interest only) are written-off or adjusted in the fair value of the respective fund.
Debt, Policy [Policy Text Block]		Long-Term Debt — Pursuant to the adoption of ASU 2015-03 (see below), the Company's Junior Subordinated and Senior Notes are recorded net of debt issuance costs. Debt issuance costs will amortize on a straight line basis as interest expense over the life of the debt. The Convertible Notes were recorded at a discount, which were being amortized as interest expense over the life of the debt. The Convertible Notes were converted during 2014 . Consolidated Entities’ Long-Term Debt —Subordinated notes of the Consolidated Entities have certain characteristics of equity and are recorded as debt on the Consolidated Balance Sheets as they have stated maturities. The maturities indicate a date on which they are mandatorily redeemable and redemption is required only upon liquidation or termination of the CLO and not upon liquidation or termination of the Company. Interest expense of Consolidated Entities is recorded in "Interest Expense - Consolidated Entities" on the Consolidated Statements of Operations.
Cash and Cash Equivalents, Policy [Policy Text Block]		Cash and Cash Equivalents —Cash and cash equivalents include cash on hand, cash held in banks and liquid investments with original maturities of 90 days or less.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]		Restricted Cash and Cash Equivalents —Restricted cash and cash equivalents represent amounts held by third parties for settlement of certain obligations and cash, subject to certain restrictions, held in non-recourse entities (including Consolidated Entities).
Due To and From Brokers [Policy Text Block]		Due from Brokers and Due to Brokers —Amounts due from brokers and due to brokers generally represent unsettled trades. Amounts due from brokers and due to brokers are recorded as assets and liabilities, respectively.
Property, Plant and Equipment, Policy [Policy Text Block]		Equipment and Improvements —Equipment and Improvements are stated at cost, net of accumulated depreciation. Depreciation is generally recorded using the straight-line method over the estimated useful lives of the various classes of equipment. Leasehold improvements are amortized over the shorter of their estimated useful lives or the remaining life of the lease using the straight-line method. The Company does not consider renewal options when determining the amortization of leasehold improvements unless renewal is considered reasonably assured at the inception of the lease. Equipment and Improvements are periodically reviewed for indications of impairment and written down to fair value if impaired.
Income Tax, Policy [Policy Text Block]		Income Taxes —Current federal income taxes are recognized based on amounts estimated to be payable or recoverable as a result of taxable income for the current year. Deferred tax assets and liabilities are recognized for the future income tax consequences (temporary differences) attributable to the difference between the carrying amounts of assets and liabilities and their respective income tax bases. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which temporary differences are expected to be recovered or settled. The Company recognizes the effect of changes in income tax laws or rates on deferred tax assets and liabilities in the period that includes the enactment date. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets to the amount that is more likely than not to be realized. Components of deferred tax assets, liabilities and valuation allowance are included in Note 15 . GAAP provides guidelines for how uncertain tax positions should be recognized, measured, presented and disclosed in the Consolidated Financial Statements. Uncertain tax positions disclosure, if any, are included in Note 15 . The Company accrues interest and penalties, if applicable, in income tax expense. Tax years that remain open to examination by major tax jurisdictions include 2011 through the current year.
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]		Share-Based Compensation —Compensation cost for share-based awards are generally measured based on the grant-date fair value of the award. Share-based awards that do not require future service (i.e. vested awards) are expensed immediately. Share-based awards that require future service or performance conditions are amortized over the relevant service period. The Company communicates "target awards" at the beginning of the performance period and the final payouts are determined when performance criterion are met at the end of the performance period. Amortization is recognized as "Share-based compensation" in the Consolidated Statements of Operations. See Note 12 for the required disclosure relating to share-based compensation.
Earnings Per Share, Policy [Policy Text Block]		Earnings Per Share —Basic earnings per share is calculated by dividing net income (loss) attributable to the Company by the weighted-average number of shares outstanding for the period. Diluted earnings per share adjusts basic earnings per share by the dilution that would have occurred had all contingent issuances of shares that would have individually reduced earnings per share occurred at either the beginning of the period or the time of issuance of the potentially dilutive securities, if those securities were issued during the period. The Company uses the treasury stock method to determine the dilutive effect of stock options, warrants and unvested restricted stock units ("RSUs") and the if-converted method to determine the dilutive effects of the Convertible Notes. During 2014, the Convertible Notes were converted. See Note 14 for the computation of earnings per share.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Updates In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718) ("ASU 2016-09") , which is intended to simplify several aspects of the accounting for share-based payment award transactions. Specifically, ASU 2016-09 aims to simplify the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The guidance will be effective for fiscal years beginning after December 15, 2016, including interim periods within that year. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) ("ASU 2016-02") , to increase transparency and comparability among organizations by recognizing all lease transactions (with terms in excess of 12 months) on the balance sheet as a lease liability and a right-of-use asset (as defined). ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with earlier application permitted. Upon adoption, the lessee will apply the new standard retrospectively to all periods presented or retrospectively using a cumulative effect adjustment in the year of adoption. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606), Deferral of the Effective Date ("ASU 2015-14") . The ASU amends the effective date of ASU 2014-09 for all entities by one year. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09") , which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The standard clarifies the required factors that an entity must consider when recognizing revenue and also requires additional disclosures. With the issuance of ASU 2015-14 the new effective date for the Company is January 1, 2018. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15") . The guidance will explicitly require management to assess an entity's ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. The new standard will be effective in the first annual period ending after December 15, 2016. Earlier adoption is permitted. The Company does not believe this guidance will have a material impact on its Consolidated Financial Statements.	Recent Accounting Updates Adopted Guidance: In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest (Topic 835-30), Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”), which requires debt issuance costs to be presented on the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. The standard does not affect the recognition and measurement of debt issuance costs. The standard is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. The new guidance will be applied on a retrospective basis. The Company early adopted ASU 2015-03 and presented debt issuance costs related to its recourse debt as a direct deduction on the carrying value of the associated debt liability. As part of the retroactive adoption, as of December 31, 2014, the Company reclassified $1.8 million of Junior Subordinated Note debt issuance costs from Prepaid and other assets to a contra liability account as a direct deduction of the net carrying value of Long-term debt (Note 11 ). In May 2015, the FASB issued ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) (“ASU 2015-07”). Under the guidance, investments measured at net asset value (“NAV”), as a practical expedient for fair value, are excluded from the fair value hierarchy. Instead, an entity is required to include those investments as a reconciling line item so that the total fair value amount of investments in the disclosure is consistent with the amount on the balance sheet. Further, entities must provide additional disclosures for investments for which they elect to use the NAV practical expedient to determine fair value. This guidance is effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years and early adoption is permitted. The ASU should be applied retrospectively to all periods presented. The Company early adopted ASU 2015-07 and excluded from the fair value hierarchy table investments in its unconsolidated credit funds that are measured at NAV as a practical expedient as of December 31, 2015 and 2014 (Note 5 ). In February 2015, the FASB issued ASU 2015-02. The guidance amends the current consolidation guidance and ends the deferral granted to investment companies from applying the VIE guidance. The revised consolidation guidance, among other things, (i) modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or VOEs, (ii) eliminated the presumption that a general partner should consolidate a limited partnership, and (iii) modifies the consolidation analysis of reporting entities that are involved with VIEs through fee arrangements and related party relationships. The standard is effective for the Company beginning on January 1, 2016, however, early adoption is allowed. The Company early adopted ASU 2015-02 on a modified retroactive basis. Upon adoption, as of January 1, 2015, the Company deconsolidated 30 CLOs and the Senior Secured Corporate Loan Fund from its Consolidated Financial Statements. As of January 1, 2015, the Company made a non-cash adjustment to deconsolidate Consolidated Entities' assets of $12.6 billion and Consolidated Entities' liabilities of $12.3 billion . This resulted in a cumulative effect adjustment of $127.9 million to beginning "Appropriated retained earnings (deficit) of Consolidated VIEs" and $204.4 million to beginning "Noncontrolling interests in Consolidated Funds". The Company's investment in unconsolidated CLOs and the Senior Secured Corporate Loan fund have been reported in "Investments" on the Consolidated Balance Sheet as of December 31, 2015 . The Consolidated Financial Statements reflect the impact of this adoption as of January 1, 2015. In August 2014, the FASB issued ASU 2014-13, Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity (a consensus of the FASB Emerging Issues Task Force) (“ASU 2014-13”) which provides guidance on measuring the financial assets and financial liabilities of a consolidated collateralized financing entity (“CFE”), such as CLOs and warehouses. Entities may make an election to measure the CFE on the basis of either the fair value of the CFE’s financial assets or financial liabilities, whichever is deemed more observable. This will eliminate the non-economic measurement differences between financial assets and financial liabilities and the associated income volatility. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 for public companies and early adoption is permitted. The adoption can be applied on a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the annual period of adoption or retrospectively to all relevant prior periods. In conjunction with the adoption of ASU 2015-02 (see above and Note 2 ), the Company has also elected to early adopt ASU 2014-13 on a modified retroactive basis. As of January 1, 2015, ASU 2014-13 was applied to the consolidated CLOs (Note 2 ). This resulted in a cumulative effect adjustment of $6.9 million to beginning "Appropriated retained earnings (deficit) of Consolidated VIEs". Guidance not yet adopted: In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606), Deferral of the Effective Date . The ASU amends the effective date of ASU 2014-09 for all entities by one year. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The standard clarifies the required factors that an entity must consider when recognizing revenue and also requires additional disclosures. With the issuance of ASU 2014-15 the new effective date for the Company is beginning January 1, 2018. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern . The guidance will explicitly require management to assess an entity's ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. The new standard will be effective in the first annual period ending after December 15, 2016. Earlier adoption is permitted. The Company does not believe this guidance will have a material impact on its Consolidated Financial Statements.

CONSOLIDATED VIEs (Tables)90

CONSOLIDATED VIEs (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Consolidated Variable Interest Entities
Schedule of Consolidated VIE assets, non-recourse liabilities and maximum exposure [Table Text Block]	The following table summarizes the Company's total maximum exposure to loss on these Consolidated VIEs, as follows (1): March 31, 2016 December 31, 2015 (In thousands) Maximum exposure to loss: Investments and beneficial interests (2) $ 81,944 $ 81,752 Receivables 394 605 Total maximum exposure to loss $ 82,338 $ 82,357 Explanatory Notes: ________________________________ (1) In addition, exposure to loss includes future management fees on the Consolidated VIEs, which are not included in the table. (2) Investments made in our Consolidated VIEs are eliminated in consolidation.	The following table summarizes the Company's total maximum exposure to loss on these Consolidated VIEs, as follows (1): CIFC LLC CIFC Corp. CIFC LLC & CIFC Corp. December 31, 2015 December 31, 2014 (In thousands) Maximum exposure to loss: Investments and beneficial interests (2) $ 81,752 $ — $ 46,651 Receivables 605 — 4,200 Total maximum exposure to loss $ 82,357 $ — $ 50,851 Explanatory Notes: ________________________________ (1) In addition, exposure to loss excludes future management fees on the Consolidated VIEs, which are not included in the table. (2) Investments made in our Consolidated VIEs are eliminated in consolidation.

FAIR VALUE (Tables)91

FAIR VALUE (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Assets and liabilities measured at fair value
Schedule of financial instruments carried at fair value on a recurring basis	The following table summarizes the assets and liabilities carried at fair value on a recurring basis, by class and level: March 31, 2016 December 31, 2015 Level 1 Level 2 Level 3 NAV Estimated Fair Value Level 1 Level 2 Level 3 NAV Estimated Fair Value (In thousands) (In thousands) Assets Investments: Credit Funds $ — $ — $ — $ 31,977 $ 31,977 $ — $ — $ — $ 31,411 $ 31,411 Structured products & other — 1,558 43,812 — 45,370 — 1,768 37,517 — 39,285 Subtotal — 1,558 43,812 31,977 77,347 — 1,768 37,517 31,411 70,696 Consolidated Entities: Loans (1) — 1,052,484 292,559 — 1,345,043 — 1,067,539 281,868 — 1,349,407 Structured products & other — 802 1,118 — 1,920 — 840 1,156 — 1,996 Total Consolidated Entities — 1,053,286 293,677 — 1,346,963 — 1,068,379 283,024 — 1,351,403 Total Assets $ — $ 1,054,844 $ 337,489 $ 31,977 $ 1,424,310 $ — $ 1,070,147 $ 320,541 $ 31,411 $ 1,422,099 Liabilities Contingent liabilities $ — $ — $ 8,142 $ — $ 8,142 $ — $ — $ 8,338 $ — $ 8,338 Total Liabilities $ — $ — $ 8,142 $ — $ 8,142 $ — $ — $ 8,338 $ — $ 8,338 Explanatory Note: ______________________________ (1) As of both March 31, 2016 and December 31, 2015 , the total aggregate unpaid principal balance of loans was $1.4 billion .See Note 9 for total contractual principal amounts.	The following table summarizes the assets and liabilities carried at fair value on a recurring basis, by class and level: CIFC LLC December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 NAV Estimated Fair Value Level 1 Level 2 Level 3 NAV Estimated Fair Value (In thousands) (In thousands) Assets Investments: Credit Funds (1) $ — $ — $ — $ 31,411 $ 31,411 $ — $ — $ — $ 27,169 $ 27,169 Loans — — — — — — 2,959 967 — 3,926 Structured products & other — 1,768 37,517 — 39,285 — — 7,604 — 7,604 Subtotal — 1,768 37,517 31,411 70,696 — 2,959 8,571 27,169 38,699 Consolidated Entities: Loans (2) — 1,067,539 281,868 — 1,349,407 — 9,184,488 2,517,887 — 11,702,375 Corporate bonds — — — — — — — 478 — 478 Structured products & other — 840 1,156 — 1,996 — — 69,973 — 69,973 Total Consolidated Entities — 1,068,379 283,024 — 1,351,403 — 9,184,488 2,588,338 — 11,772,826 Total Assets $ — $ 1,070,147 $ 320,541 $ 31,411 $ 1,422,099 $ — $ 9,187,447 $ 2,596,909 $ 27,169 $ 11,811,525 Liabilities Contingent liabilities $ — $ — $ 8,338 $ — $ 8,338 $ — $ — $ 12,668 $ — $ 12,668 Consolidated Entities: Long-term debt (2) — — — — — — — 12,049,034 — 12,049,034 Total Consolidated Entities — — — — — — — 12,049,034 — 12,049,034 Total Liabilities $ — $ — $ 8,338 $ — $ 8,338 $ — $ — $ 12,061,702 $ — $ 12,061,702 CIFC Corp. December 31, 2015 December 31, 2014 Level 1 Level 2 Level 3 NAV Estimated Fair Value Level 1 Level 2 Level 3 NAV Estimated Fair Value (In thousands) (In thousands) Assets Investments: Credit Funds (1) $ — $ — $ — $ — $ — $ — $ — $ — $ 27,169 $ 27,169 Loans — — — — — — 2,959 967 — 3,926 Structured products & other — — 739 — 739 — — 7,604 — 7,604 Subtotal — — 739 — 739 — 2,959 8,571 27,169 38,699 Consolidated Entities: Loans (2) — — — — — — 9,184,488 2,517,887 — 11,702,375 Corporate bonds — — — — — — — 478 — 478 Structured products & other — — — — — — — 69,973 — 69,973 Total Consolidated Entities — — — — — — 9,184,488 2,588,338 — 11,772,826 Total Assets $ — $ — $ 739 $ — $ 739 $ — $ 9,187,447 $ 2,596,909 $ 27,169 $ 11,811,525 Liabilities Contingent liabilities $ — $ — $ 8,338 $ — 8,338 $ — $ — $ 12,668 $ — $ 12,668 Consolidated Entities: Long-term debt (2) — — — — — — — 12,049,034 — 12,049,034 Total Consolidated Entities — — — — — — — 12,049,034 — 12,049,034 Total Liabilities $ — $ — $ 8,338 $ — $ 8,338 $ — $ — $ 12,061,702 $ — $ 12,061,702 Explanatory Note: ______________________________ (1) Pursuant to the adoption of ASU 2015-07, disclosure of assets measured at NAV as a practical expedient in the fair value hierarchy is no longer required. (2) As of December 31, 2015 and 2014 , the total aggregate unpaid principal balance of loans was $1.4 billion and $12.0 billion , respectively. See Note 11 for total contractual principal amounts. As of December 31, 2015 , Long-term debt of the Consolidated VIEs was no longer measured using a third-party pricing service due to the adoption of ASU 2014-13 (Note 3 ).
Schedule of level 3 financial assets at fair value	The following tables summarize by class the changes in financial assets and liabilities measured at fair value classified within Level 3 of the valuation hierarchy. Net realized and unrealized gains (losses) for Level 3 financial assets and liabilities measured at fair value are included in the Consolidated Statements of Operations. Level 3 Financial Assets For the Three Months Ended March 31, 2016 Investments Investment Assets of Consolidated Entities Structured Products & Other Total Loans Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 37,517 $ 37,517 $ 281,868 $ 1,156 $ 283,024 Transfers into Level 3 (1) — — 95,421 — 95,421 Transfers out of Level 3 (2) — — (84,551 ) — (84,551 ) Net realized/unrealized gains (losses) (3) (1,307 ) (1,307 ) (933 ) (38 ) (971 ) Purchases (3) 15,721 15,721 24,480 — 24,480 Sales (3) (8,000 ) (8,000 ) (9,899 ) — (9,899 ) Settlements (3) (119 ) (119 ) (13,827 ) — (13,827 ) Estimated fair value, end of period $ 43,812 $ 43,812 $ 292,559 $ 1,118 $ 293,677 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ (213 ) $ (213 ) $ (1,967 ) $ (38 ) $ (2,005 ) Level 3 Financial Assets For the Three Months Ended March 31, 2015 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Transfers into Level 3 (1) — — — 2,327 — — 2,327 Transfers out of Level 3 (2) (3) — — — (8,477 ) — — (8,477 ) Transfers in (out) due to deconsolidation (2)(3) — 23,614 23,614 (2,476,625 ) (478 ) (67,383 ) (2,544,486 ) Net realized/unrealized gains (losses) (3) — (197 ) (197 ) 497 — (101 ) 396 Purchases (3) — 7,138 7,138 26,643 — 2,188 28,831 Sales (3) — (5,296 ) (5,296 ) (11,336 ) — — (11,336 ) Settlements (3) — — — (5,933 ) — — (5,933 ) Estimated fair value, end of period $ 967 $ 32,863 $ 33,830 $ 44,983 $ — $ 4,677 $ 49,660 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ — $ 3 $ 3 $ 82 $ — $ (101 ) $ (19 ) Explanatory Notes: ______________________________ (1) Transfers in represent loans currently valued by a third-party pricing service using composite prices determined using less than two quotes, an internally developed pricing model or broker quotes and that were previously marked by a third-party pricing service using composite prices determined from two or more quotes. (2) Transfers out represent loans previously valued by an internally developed pricing model, broker quotes, or a third-party pricing service using composite prices determined using less than two quotes and are now being marked by a third-party pricing service using composite prices determined from two or more quotes. (3) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out, net realized/unrealized gains (losses), purchases, sales and settlements for the three months ended March 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Level 3 Financial Liabilities For the Three Months Ended March 31, 2016 For the Three Months Ended March 31, 2015 Contingent Liabilities Total Contingent Liabilities Long-term Debt of Consolidated Entities Total (In thousands) Estimated fair value, beginning of period $ 8,338 $ 8,338 $ 12,668 $ 12,049,034 $ 12,061,702 Transfer in due to consolidation (2)(3) — — — (12,049,034 ) (12,049,034 ) Net realized/unrealized (gains) losses (2) 364 364 713 — 713 Settlements (2)(4) (560 ) (560 ) (1,558 ) — (1,558 ) Estimated fair value, end of period $ 8,142 $ 8,142 $ 11,823 $ — $ 11,823 Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period $ 364 $ 364 $ 713 $ — $ 713 Explanatory Notes: __________________________ (1) Represents the Company's sales of its residual interests in the Consolidated CLOs. The sale removes the requirement to consolidate the CLOs, therefore, debt and/or subordinated notes of the CLOs are no longer eliminated in consolidation. (2) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out, net realized/unrealized gains (losses), purchases, sales and settlements for the three months ended March 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. (3) Pursuant to the adoption of ASU 2014-13, the Long-term Debt of Consolidated Entities have been remeasured in accordance with the new guidance. (4) For Contingent Liabilities, amount represents payments made and due related to the contingent liabilities from the merger with Legacy CIFC (Note 8 ).	The following tables summarize by class the changes in financial assets and liabilities measured at fair value classified within Level 3 of the valuation hierarchy. Net realized and unrealized gains (losses) for Level 3 financial assets and liabilities measured at fair value are included in the Consolidated Statements of Operations. CIFC LLC Level 3 Financial Assets For the Year Ended December 31, 2015 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Transfers into Level 3 (1) — — — 51,012 — — 51,012 Transfers out of Level 3 (2) — — — (69,435 ) — (1,803 ) (71,238 ) Transfers in due to consolidation or acquisition — — — 143,856 — — 143,856 Transfers out due to consolidation or acquisition — (12,546 ) (12,546 ) — — — — Transfers in (out) due to deconsolidation (2)(3) — 23,614 23,614 (2,476,625 ) (478 ) (67,383 ) (2,544,486 ) Transfers between classes — (2,613 ) (2,613 ) — — 2,613 2,613 Net realized/unrealized gains (losses) (3) 33 (6,828 ) (6,795 ) (16,747 ) — (143 ) (16,890 ) Purchases (3) 990 63,060 64,050 246,256 — 1,129 247,385 Sales (3) (1,990 ) (28,715 ) (30,705 ) (95,305 ) — (3,230 ) (98,535 ) Settlements (3) — (6,059 ) (6,059 ) (19,031 ) — — (19,031 ) Estimated fair value, end of period $ — $ 37,517 $ 37,517 $ 281,868 $ — $ 1,156 $ 283,024 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ — $ (5,689 ) $ (5,689 ) $ (4,875 ) $ — $ (163 ) $ (5,038 ) CIFC Corp. Level 3 Financial Assets For the Year Ended December 31, 2015 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Transfers into Level 3 (1) — — — 51,012 — — 51,012 Transfers out of Level 3 (2) — — — (69,435 ) — (1,803 ) (71,238 ) Transfers in due to consolidation or acquisition — — — 143,856 — — 143,856 Transfers out due to consolidation or acquisition — (12,546 ) (12,546 ) — — — — Transfers in (out) due to deconsolidation (2)(3) — 23,614 23,614 (2,476,625 ) (478 ) (67,383 ) (2,544,486 ) Transfers between classes — (2,613 ) (2,613 ) — — 2,613 2,613 Net realized/unrealized gains (losses) (3) 33 (6,828 ) (6,795 ) (16,747 ) — (143 ) (16,890 ) Purchases (3) 990 63,060 64,050 246,256 — 1,129 247,385 Sales (3) (1,990 ) (28,715 ) (30,705 ) (95,305 ) — (3,230 ) (98,535 ) Settlements (3) — (6,059 ) (6,059 ) (19,031 ) — — (19,031 ) Reorganization Transaction - Transfers out to CIFC LLC $ — $ (36,778 ) $ (36,778 ) $ (281,868 ) $ — $ (1,156 ) $ (283,024 ) Estimated fair value, end of period $ — $ 739 $ 739 $ — $ — $ — $ — Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ — $ (78 ) $ (78 ) $ — $ — $ — $ — CIFC LLC and CIFC Corp. Level 3 Financial Assets For the Year Ended December 31, 2014 Investments Investment Assets of Consolidated Entities Loans Structured Products & Other Total Loans Corporate Bonds Structured Products & Other Total (In thousands) Estimated fair value, beginning of period $ 510 $ — $ 510 $ 1,706,290 $ 16,220 $ 93,516 $ 1,816,026 Transfers into Level 3 (1) — — — 355,793 — — 355,793 Transfers out of Level 3 (2) (3) — — — (296,059 ) — — (296,059 ) Transfers in due to consolidation or acquisition 1,008 — 1,008 32,523 — 5,321 37,844 Transfers between classes (498 ) — (498 ) 498 — — 498 Net realized/unrealized gains (losses) (3) (53 ) (311 ) (364 ) (55,695 ) 350 9,136 (46,209 ) Purchases (3) — 7,915 7,915 1,884,265 — 1,910 1,886,175 Sales (3) — — — (412,444 ) (16,092 ) (19,022 ) (447,558 ) Settlements (3) — — — (697,284 ) — (20,888 ) (718,172 ) Estimated fair value, end of period $ 967 $ 7,604 $ 8,571 $ 2,517,887 $ 478 $ 69,973 $ 2,588,338 Change in unrealized gains (losses) for the period for the assets held as of the end of the period $ (23 ) $ (311 ) $ (334 ) $ (46,579 ) $ (28 ) $ 679 $ (45,928 ) Explanatory Notes: ______________________________ (1) Transfers in represent loans currently valued by a third-party pricing service using composite prices determined using less than two quotes, an internally developed pricing model or broker quotes and that were previously marked by a third-party pricing service using composite prices determined from two or more quotes. (2) Transfers out represent loans previously valued by an internally developed pricing model, broker quotes, or a third-party pricing service using composite prices determined using less than two quotes and are now being marked by a third-party pricing service using composite prices determined from two or more quotes. (3) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out for the year ended December 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Net realized/unrealized gains (losses), purchases, sales and settlements for the twelve months ended December 31, 2015 , also reflect the deconsolidation. CIFC LLC and CIFC Corp. Level 3 Financial Liabilities For the Year Ended December 31, 2015 For the Year Ended December 31, 2014 Contingent Liabilities Long-term Debt of Consolidated Entities Total Contingent Liabilities Long-term Debt of Consolidated Entities Total (In thousands) Estimated fair value, beginning of period $ 12,668 $ 12,049,034 $ 12,061,702 $ 16,961 $ 10,484,975 $ 10,501,936 Sale of investments in Consolidated CLOs (1) — — — — 20,601 20,601 Transfer in due to consolidation — — — — 101,694 101,694 Transfer out due to deconsolidation or sale (2)(3) — (12,049,034 ) (12,049,034 ) — — — Net realized/unrealized (gains) losses (2) 2,210 — 2,210 2,932 8,995 11,927 Purchases (2) — — — — 70,567 70,567 Issuances (2) — — — — 4,526,984 4,526,984 Settlements (2)(4) (6,540 ) — (6,540 ) (7,225 ) (3,164,782 ) (3,172,007 ) Estimated fair value, end of period $ 8,338 $ — $ 8,338 $ 12,668 $ 12,049,034 $ 12,061,702 Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period $ 2,210 $ — $ 2,210 $ 2,932 $ 230,011 $ 232,943 Explanatory Notes: __________________________ (1) Represents the Company's sales of its residual interests in the Consolidated CLOs. The sale removes the requirement to consolidate the CLOs, therefore, debt and/or subordinated notes of the CLOs are no longer eliminated in consolidation. (2) The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out for the year ended December 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Net realized/unrealized gains (losses), purchases, sales and settlements for the twelve months ended December 31, 2015 , also reflect the deconsolidation. (3) Pursuant to the adoption of ASU 2014-13, the Long-term Debt of Consolidated Entities have been remeasured in accordance with the new guidance. (See Note 3 for details). (4) For Contingent Liabilities, amount represents payments made and due related to the contingent liabilities from the merger with Legacy CIFC (Note 10 ).
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The disclosure provided below provides quantitative information about the significant unobservable inputs used in the valuation of the contingent liabilities of Legacy CLOs (see Note 9 ). March 31, 2016 March 31, 2016 December 31, 2015 Impact of Increase in Input on Fair Value Financial Liabilities Fair Value (in thousands) Valuation Technique Significant Unobservable Input Range Range Contingent Liabilities $ 8,142 Discounted cash flows Discount rate (2) 8.1%-13.0% 6.7%-12.0% Decrease Default rate (3) 2.0% 2.0% Decrease Recovery rate (3) 70% 70% Increase Pre-payment rate (3) 25% 40% Decrease Reinvestment spread of assets above LIBOR 3.3%-4.0% 3.0-3.8% Increase Reinvestment price of assets 100.0 100.0 Increase Explanatory Notes: ____________________________ (1) The impact of a decrease in input would have the opposite impact to the fair value as that presented in the table. (2) The discount rate varies by type of management fee (senior management fee, subordinated management fee, or incentive fee), the priority of that management fee in the waterfall of the CLO and the relative risk associated with the respective management fee cash flow projections. Amounts are presented as a spread over LIBOR . (3) Generally an increase in the default rate would be accompanied by a directionally opposite change in assumption for the recovery and pre-payment rates.	The disclosure provided below provides quantitative information about the significant unobservable inputs used in the valuation of the contingent liabilities of Legacy CLOs (see Note 10 ). December 31, 2015 December 31, 2015 December 31, 2014 Impact of Increase in Input on Fair Value Financial Liabilities Fair Value (in thousands) Valuation Technique Significant Unobservable Input Range Range Contingent Liabilities $ 8,338 Discounted cash flows Discount rate (2) 6.7% -12.0% 1.2%-12.5% Decrease Default rate (3) 2.0% 2.0% Decrease Recovery rate (3) 70% 70% Increase Pre-payment rate (3) 40% 35-40% Decrease Reinvestment spread of assets above LIBOR 3.0% -3.8% 3.0-3.8% Increase Reinvestment price of assets 100.0 100.0 Increase Explanatory Notes: ____________________________ (1) The impact of a decrease in input would have the opposite impact to the fair value as that presented in the table. (2) The discount rate varies by type of management fee (senior management fee, subordinated management fee, or incentive fee), the priority of that management fee in the waterfall of the CLO and the relative risk associated with the respective management fee cash flow projections. Amounts are presented as a spread over LIBOR . (3) Generally an increase in the default rate would be accompanied by a directionally opposite change in assumption for the recovery and pre-payment rates.
Schedule of carrying amounts and estimated fair values of financial assets and liabilities	The Company has not elected the fair value option for certain financial liabilities. A summary of the carrying value and estimated fair value of those liabilities are as follows: As of March 31, 2016 As of December 31, 2015 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value (In thousands) Financial liabilities: Long-term debt: Junior Subordinated Notes (1) $ 118,282 $ 52,549 $ 118,259 $ 57,371 Senior Notes (2) $ 37,955 $ 40,000 $ 37,902 $ 40,000 Explanatory Note: ________________________________ (1) The Junior Subordinated Notes include both the March and October Junior Subordinated Notes (Note 9 ). The estimated fair values of the Junior Subordinated Notes were determined using a discounted cash flow model which utilizes significant unobservable inputs, including discount rates, yield and forward LIBOR curve assumptions. This methodology is classified as Level 3 within the fair value hierarchy. (2) On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which	The Company has not elected the fair value option for certain financial liabilities. A summary of the carrying value and estimated fair value of those liabilities are as follows: As of December 31, 2015 As of December 31, 2014 Carrying Value Estimated Fair Value Carrying Value (3) Estimated Fair Value (In thousands) Financial liabilities: Long-term debt: Junior Subordinated Notes (1)(3) $ 118,259 $ 57,371 $ 118,170 $ 57,314 Senior Notes (2)(3) $ 37,902 $ 40,000 n/a n/a Explanatory Note: ________________________________ (1) The Junior Subordinated Notes include both the March and October Junior Subordinated Notes (Note 11 ). The estimated fair values of the Junior Subordinated Notes were determined using a discounted cash flow model which utilizes significant unobservable inputs, including discount rates, yield and forward LIBOR curve assumptions. This methodology is classified as Level 3 within the fair value hierarchy. (2) On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which is carried at its outstanding principal balance net of debt issuance costs (Note 11 ). The estimated fair value of the Senior Notes approximates issuance price from November 2, 2015. (3) Pursuant to the adoption of ASU 2015-03 the carrying value has been adjusted to reflect the presentation of debt issuance costs as a direct deduction from the related liability for all periods presented in accordance with amended guidance on simplifying the presentation of such costs.

NET RESULTS OF CONSOLIDATED E92

NET RESULTS OF CONSOLIDATED ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Net Gain (Loss) From Activities Of Consolidated Entities
Summary of components of the entity's net gain (loss) on activities of Consolidated Entities	The following table is a summary of net results of the Consolidated Entities: For the Year Ended December 31, 2015 2014 (In thousands) Investment income $ 25,106 $ 517,252 Interest expense 9,904 171,931 Net investment income 15,202 345,321 Net gain (loss) on investments (26,114 ) (228,777 ) Net gain (loss) on liabilities 24,746 (8,996 ) Net gain (loss) on other investments and derivatives 2,970 2,031 Net gain (loss) from activities of Consolidated Entities $ 16,804 $ 109,579 Expenses of Consolidated Entities 10,774 40,074 Net Results of Consolidated Entities $ 6,030 $ 69,505

EQUIPMENT AND IMPROVEMENTS (Tab

EQUIPMENT AND IMPROVEMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Equipment and improvements consisted of the following: As of December 31, Estimated initial useful life 2015 2014 (In years) (In thousands) Equipment and computer software 3-5 $ 5,513 $ 4,541 Leasehold improvements 11 2,468 2,455 Office furniture and fixtures 7 746 672 Equipment and improvements, gross 8,727 7,668 Less: accumulated depreciation (1) (3,861 ) (2,474 ) Equipment and improvements, net $ 4,866 $ 5,194 Explanatory Note: ________________________________ (1) Depreciation expense related to equipment and improvements totaled $1.4 million and $1.3 million for the years ended December 31, 2015 and 2014 , respectively.	[1]
[1]	Depreciation expense related to equipment and improvements totaled $1.4 million and $1.3 million for the years ended December 31, 2015 and 2014, respectively.

INTANGIBLE ASSETS AND GOODWIL94

INTANGIBLE ASSETS AND GOODWILL (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Intangible assets are comprised of the following: Weighted-Average Remaining Estimated Useful Life Gross Carrying Amount (1) Accumulated Amortization (2) Net Carrying Amount (In years) (In thousands) March 31, 2016: Investment management contracts 2.1 $ 40,405 $ 37,527 $ 2,878 Referral arrangement 3.5 3,810 2,286 1,524 Non-compete agreements 2.0 1,284 917 367 Trade name 5.0 1,250 626 624 Total intangible assets $ 46,749 $ 41,356 $ 5,393 December 31, 2015: Investment management contracts 2.4 $ 71,113 $ 67,040 $ 4,073 Referral arrangement 3.8 3,810 2,096 1,714 Non-compete agreements 2.2 1,535 1,122 413 Trade name 5.2 1,250 593 657 Total intangible assets $ 77,708 $ 70,851 $ 6,857 Explanatory Notes: _________________________________ (1) Gross carrying amounts as of March 31, 2016 have been reduced to reflect fully impaired and amortized assets. (2) During the three months ended March 31, 2016 and 2015 , the Company recorded amortization expense on its intangible assets of $0.9 million and $2.1 million , respectively.	Intangible assets are comprised of the following: Weighted-Average Remaining Estimated Useful Life Gross Carrying Amount (1) Accumulated Amortization (2) Net Carrying Amount (In years) (In thousands) December 31, 2015: Investment management contracts 2.4 $ 71,113 $ 67,040 $ 4,073 Referral arrangement 3.8 3,810 2,096 1,714 Non-compete agreements 2.2 1,535 1,122 413 Trade name 5.2 1,250 593 657 Total intangible assets $ 77,708 $ 70,851 $ 6,857 December 31, 2014: Investment management contracts 3.2 $ 72,941 $ 61,723 $ 11,218 Referral arrangement 4.8 3,810 1,334 2,476 Non-compete agreements 3.2 1,535 936 599 Trade name 6.3 1,250 469 781 Total intangible assets $ 79,536 $ 64,462 $ 15,074 Explanatory Notes: _________________________________ (1) Gross carrying amounts have been adjusted for impaired assets as of the date presented. (2) During the years ended December 31, 2015 and 2014 , the Company recorded amortization expense on its intangible assets of $6.4 million and $10.1 million , respectively.
Schedule of expected amortization expense of the existing intangible assets	The following table presents expected amortization expense of the existing intangible assets: (In thousands) 2016 (nine months remaining) $ 1,651 2017 1,726 2018 1,449 2019 411 2020 125 Thereafter 31 $ 5,393	The following table presents expected amortization expense of the existing intangible assets: (In thousands) 2016 $ 2,860 2017 1,929 2018 1,501 2019 411 2020 125 Thereafter 31 $ 6,857

LONG-TERM DEBT (Tables)95

LONG-TERM DEBT (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table summarizes the long-term debt: March 31, 2016 December 31, 2015 Par Carrying Value Weighted Average Borrowing Rate Weighted Average Remaining Maturity Par Carrying Value Weighted Average Borrowing Rate Weighted Average Remaining Maturity (In thousands) (In years) (In thousands) (In years) Recourse Debt: March Junior Subordinated Notes (1) $ 95,000 $ 93,476 3.20 % 19.6 $ 95,000 $ 93,456 2.90 % 19.8 October Junior Subordinated Notes (2) 25,000 24,806 4.12 % 19.6 25,000 24,803 3.82 % 19.8 Senior Notes (3) 40,000 37,955 8.50 % 9.6 40,000 37,902 8.50 % 9.8 Total Recourse Debt $ 160,000 $ 156,237 4.67 % 17.1 $ 160,000 $ 156,161 4.44 % 17.3 Non-Recourse Consolidated Entities' debt: Consolidated CLOs and Other (4) $ 1,360,725 $ 1,312,058 0.03 % 9.0 $ 1,385,226 $ 1,308,558 0.02 % 9.1 Total Non-recourse Debt $ 1,360,725 $ 1,312,058 0.03 % 9.0 $ 1,385,226 $ 1,308,558 0.02 % 9.1 Explanatory Notes: _______________________________ (1) March Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 2.58% until maturity on October 30, 2035. Prior to April 30, 2015, these notes bore interest at an annual rate of 1% . (2) October Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 3.50% and mature on October 30, 2035. (3) The Senior Notes bear interest at 8.5% and mature on October 30, 2025. As of January 1, 2016, the Company temporarily did not meet certain registration requirements under the indenture (and associated agreements) and incurred additional interest of 25 basis points per annum for the period ended March 31, 2016. Each 90 days thereafter interest will increase by 25 basis points (capped at 1% per annum) until cured. The Company has cured these conditions and expects the additional interest to end in July 2016. (4) The subordinated notes of the Consolidated CLOs do not have a stated interest rate and have been excluded from the calculation of the weighted average borrowing rate. As of March 31, 2016 and December 31, 2015 , long-term debt of the Consolidated CLOs and Other includes $151.7 million and $153.1 million of credit fund debt, respectively.	The following table summarizes the long-term debt of CIFC LLC and CIFC Corp. (1): December 31, 2015 December 31, 2014 Par Carrying Value (2) Weighted Average Borrowing Rate Weighted Average Remaining Maturity Par Carrying Value (2) Weighted Average Borrowing Rate Weighted Average Remaining Maturity (In thousands) (In years) (In thousands) (In years) Recourse Debt: March Junior Subordinated Notes (3) $ 95,000 $ 93,456 2.90 % 19.8 $ 95,000 $ 93,377 1.00 % 20.8 October Junior Subordinated Notes (4) 25,000 24,803 3.82 % 19.8 25,000 24,793 3.73 % 20.8 Senior Notes (5) 40,000 37,902 8.50 % 9.8 — — — % — Total Recourse Debt of CIFC LLC and CIFC Corp. $ 160,000 $ 156,161 4.44 % 17.3 $ 120,000 $ 118,170 1.57 % 20.8 Non-Recourse Consolidated Entities' debt: Consolidated CLOs and Other (6) $ 1,385,226 $ 1,308,558 0.02 % 9.1 $ 12,760,565 $ 11,998,034 1.77 % 8.7 Warehouses (7) — — — % — 51,000 51,000 1.89 % — Total Non-recourse Debt of CIFC LLC $ 1,385,226 $ 1,308,558 0.02 % 9.1 $ 12,811,565 $ 12,049,034 1.77 % 8.7 Total Non-recourse Debt of CIFC Corp. $ — $ — — % 0 $ 12,811,565 $ 12,049,034 1.77 % 8.7 Explanatory Notes: ________________________________ (1) As a result of the Reorganization Transaction (see Note 1 and Note 16 ), CIFC Corp. made a non-cash distribution in kind of certain of its subsidiary entities holding certain investment assets (e.g. investments in CLOs and Funds) to CIFC LLC. As such, as of December 31, 2015 , CIFC Corp. did not consolidate any CLOs. (2) Pursuant to the adoption of ASU 2015-03, the carrying values of recourse debt has been presented net of debt issuance costs. (3) March Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 2.58% until maturity on October 30, 2035. Prior to April 30, 2015, these notes bore interest at an annual rate of 1% . (4) October Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 3.50% and mature on October 30, 2035. (5) The Senior Notes bear interest at 8.5% and mature on October 30, 2025. (6) Pursuant to the adoption of ASU 2014-13, Long-term debt of the Consolidated CLOs has been remeasured in accordance with the new guidance (Notes 3 and 5 ). The subordinated notes of the Consolidated CLOs do not have a stated interest rate and have been excluded from the calculation of the weighted average borrowing rate. As of December 31, 2015 , long-term debt of the Consolidated CLOs includes $153.1 million of credit funds. (7) Long-term debt of warehouses not held by the Company is recorded at fair value. The fair value excludes the preferred shares of warehouses not held by the Company. As warehouses are generally terminated before the end of their terms, they are excluded from the calculation of the weighted average remaining maturity.

EQUITY (Tables)96

EQUITY (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Schedule of Share-based Compensation Stock Options Activity	The following table summarizes certain share options activity: Number of Shares Underlying Share Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (In years) (In thousands) Outstanding at December 31, 2015 3,285,313 $ 6.69 4.64 $ 788 Exercised (1) (50,000 ) $ 4.83 Outstanding at March 31, 2016 3,235,313 $ 6.72 4.39 $ 2,659 Exercisable at March 31, 2016 2,980,731 $ 6.56 4.13 $ 2,658 Vested and Expected to vest at March 31, 2016 (2) 3,219,855 $ 6.71 4.38 $ 2,659 Explanatory Notes: ________________________________ (1) During the three months ended March 31, 2016 and 2015 , total intrinsic value of options exercised was $33.5 thousand and $78.5 thousand , respectively. (2) Includes a reduction to outstanding options at period end for expected forfeiture rate over the life of the options.	The following table summarizes certain Stock Options activity: Number of Shares Underlying Share Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (In years) (In thousands) Outstanding at December 31, 2014 3,635,313 $ 6.68 5.16 $ 6,146 Exercised (1) (103,906 ) $ 5.00 Forfeited (2) (159,531 ) $ 7.25 Expired (2) (86,563 ) $ 7.09 Outstanding at December 31, 2015 3,285,313 $ 6.69 4.64 $ 788 Exercisable at December 31, 2015 2,872,540 $ 6.50 4.21 $ 744 Vested and Expected to vest at December 31, 2015 (3) 3,263,392 $ 6.68 4.62 $ 786 Explanatory Notes: ________________________________ (1) During the year ended December 31, 2015 and 2014 , total intrinsic value of options exercised was $0.2 million and $0.3 million , respectively. (2) Forfeited and expired equity-based awards are returned to the grant pool for reissuance under the 2011 Stock Plan. (3) Includes a reduction to outstanding options at period end for expected forfeiture rate over the life of the options.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]		Management estimates the fair value of share-based awards using the Black-Scholes option pricing model. The Company did not grant any stock options during the year ended December 31, 2015 . The weighted average assumptions as of the grant date related to share-based awards (by period issued) are listed in the table below: For the Years Ended December 31, 2014 Expected dividend yield 4.54 % Expected volatility 42.65 % Risk-free interest rate 1.96 % Expected life (years) 5.77
Restricted Stock Units	he following table summarizes restricted share unit activity: For the Three Months Ended March 31, 2016 Weighted Average Grant Date Fair Value Restricted share units outstanding, beginning of period 2,033,510 $ 7.69 Granted (1)(2) 1,093,015 $ 5.78 Vested (240,611 ) $ 8.09 Forfeited (3) (5,988 ) $ 8.35 Restricted share units outstanding, end of period 2,879,926 $ 6.69 Explanatory Notes: _________________________________ (1) Weighted average grant date fair value excludes 360,000 of performance based RSUs for which performance hurdles will be determined in the future. (2) Shareholder approval is required to increase the number of shares available under the Company’s 2011 Stock and Incentive Plan to accommodate these new grants. (3) The forfeited share-based awards are returned to the grant pool for reissuance under the 2011 Stock Plan.	The following table summarizes restricted stock unit activity: For the Year Ended December 31, 2015 Weighted Average Grant Date Fair Value Restricted stock units outstanding, beginning of period 1,248,444 $ 8.01 Granted (1) 1,138,787 $ 7.21 Vested (286,592 ) $ 8.07 Forfeited (2) (67,129 ) $ 7.76 Restricted stock units outstanding, end of period 2,033,510 $ 7.69 Explanatory Notes: _________________________________ (1) Weighted average grant date fair value excludes 540,000 of performance based RSUs for which performance hurdles will be determined in the future. (2) The forfeited share-based awards are returned to the grant pool for reissuance under the 2011 Stock Plan.

EARNINGS (LOSS) PER SHARE (Ta97

EARNINGS (LOSS) PER SHARE (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Schedule of calculation of basic and diluted earnings (loss) per share	The following table presents the calculation of basic and diluted earnings (loss) per share ("EPS"): For the Three Months Ended March 31, 2016 (1) 2015 (In thousands, except per share data) Net income (loss) attributable to the Company - basic & diluted $ 4,505 $ 5,428 Weighted-average shares - basic 25,355 25,279 Share options (2) 283 697 Warrants (3) — 458 Unvested RSUs 171 138 Weighted-average shares - diluted 25,809 26,572 Earnings (loss) per share Basic $ 0.18 $ 0.21 Diluted $ 0.17 $ 0.20 Explanatory Notes: ________________________________ (1) Earnings per share basic and diluted has been calculated assuming that the Dissenting Shares are outstanding. Excluding the Dissenting Shares, total weighted-average shares basic and diluted would be 23,328,479 and 23,783,188 , respectively, and earnings per share basic and diluted would be $0.19 (Note 10 and 16 ). (2) For the three months ended March 31, 2016 and 2015 , the Company excluded anti-dilutive share options from the calculation of diluted EPS of $2.0 million and of $0.7 million , respectively. (3) For the three months ended March 31, 2016 , the warrants were anti-dilutive for purposes of EPS. The warrants expire on January 24, 2017 (Note 13 ).	The following table presents the calculation of basic and diluted earnings (loss) per share ("EPS"): CIFC LLC CIFC Corp. CIFC LLC & CIFC Corp. For the Years Ended December 31, 2015 2015 2014 (In thousands, except per share data) Net income (loss) attributable to the Company - basic & diluted $ 334 $ 384 $ 8,381 Weighted-average shares - basic 25,315 25,315 22,909 Stock options (1) 590 590 674 Warrants (2) 311 311 500 Unvested RSUs 198 198 85 Weighted-average shares - diluted 26,414 26,414 24,168 Earnings (loss) per share Basic $ 0.01 $ 0.02 $ 0.37 Diluted $ 0.01 $ 0.01 $ 0.35 Explanatory Notes: ________________________________ (1) For the years ended December 31, 2015 and 2014 , the Company excluded anti-dilutive stock options from the calculation of diluted EPS of 1.1 million and of 0.8 million , respectively. (2) On September 24, 2015, the term of the warrants was extended to January 24, 2017 (Note 12 ).

INCOME TAXES (Tables)98

INCOME TAXES (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Operating Loss Carryforwards [Line Items]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]		The components of income tax expense (benefit) are as follows: For the Year Ended December 31, 2015 2014 (In thousands) Current: Federal $ 14,777 $ 13,899 State and local (588 ) 4,327 Total current expense 14,189 18,226 Deferred: Federal 4,361 (2,672 ) State and local 6,689 6,604 Total deferred expense (benefit) 11,050 3,932 Total income tax expense (benefit) $ 25,239 $ 22,158
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The following table summarizes the Company's tax provision: For the Three Months Ended March 31, 2016 2015 (In thousands) Income (loss) before income taxes $ 5,785 $ 8,769 Income tax expense $ 1,278 $ 3,087 Effective income tax rate (1) 22.1 % 35.2 % Explanatory Note: ________________________________ (1) During 2015, the Company adopted new accounting standards that impacted Income (loss) before income taxes for the three months ended March 31, 2015 (Note 2 ). The change has resulted in the change of the effective income tax rate. In addition, for the three months ended March 31, 2016 and 2015 deferred income tax expense (benefit) was $1.3 million and $(0.2) million , respectively.	The following table reconciles the Company's effective tax rate to the U.S. federal statutory tax rate: For the Year Ended December 31, 2015 2014 Statutory U.S. federal income tax rate 35.00 % 35.00 % Reconciling items: Income passed through to common shareholders and non-controlling interest holders (1) (0.84 )% 73.69 % State income taxes, net of federal effect (0.67 )% 31.92 % Nondeductible expenses 2.74 % 26.22 % Effect of tax law changes 24.02 % 64.67 % Valuation allowance release — % (2.88 )% PTP Conversion adjustments 35.04 % — % Other 1.04 % (3.32 )% Effective income tax rate (2) 96.33 % 225.30 % Explanatory Notes: ________________________________ (1) Includes income that is not taxable to the Company. Such income is directly taxable to the non-controlling interest holders in the Consolidated CLOs. (2) The effective tax rate is calculated on "Income (loss) before income tax expense (benefit)".
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]		The tax effects of temporary differences that result in significant deferred tax assets and deferred tax liabilities are as follows: For the Year Ended December 31, 2015 2014 (In thousands) Deferred tax assets: Intangible assets and goodwill $ 33,160 $ 39,946 State net operating loss carryforwards 16,043 16,530 Federal net operating loss carryforwards 8,607 9,070 Other 6,340 10,872 Gross deferred tax asset 64,150 76,418 Less: Valuation allowance 15,428 15,040 Deferred tax asset 48,722 61,378 Deferred tax liabilities: Long-term debt 2,372 2,663 Other 1,925 3,240 Deferred tax liability 4,297 5,903 Net deferred tax asset $ 44,425 $ 55,475

COMMITMENTS AND CONTINGENCIES99

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The future minimum commitments under the Company's lease agreement are as follows: (In thousands) 2016 $ 1,607 2017 1,607 2018 1,680 2019 1,752 2020 1,752 Thereafter 3,506 $ 11,904

FINANCIAL INFORMATION FOR SU100

FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS AND NON-GUARANTORS Condensed Financial Statements (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Condensed Financial Information [Abstract]
Condensed Balance Sheet [Table Text Block]	Condensed Consolidating Balance Sheets (Unaudited) March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ 1,094 $ 382 $ 50,535 $ — $ — $ 52,011 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 159,177 — (81,830 ) 77,347 Intercompany investments in subsidiaries 177,449 104,281 113,497 — (395,227 ) — Receivables 154 3,546 7,909 — (2,684 ) 8,925 Prepaid and other assets — 1,172 1,645 — — 2,817 Deferred tax asset, net — 43,110 — — — 43,110 Equipment and improvements, net — — 4,562 — — 4,562 Intangible assets, net — 5,393 — — — 5,393 Goodwill — 66,549 9,451 — — 76,000 Subtotal 178,697 224,433 348,470 — (479,741 ) 271,859 Assets of Consolidated Entities: Restricted cash and cash equivalents — — — 80,592 — 80,592 Due from brokers — — — 24,293 — 24,293 Investments — — — 1,346,963 — 1,346,963 Receivables — — — 4,185 — 4,185 Prepaid and other assets — — — 187 — 187 Total assets of Consolidated Entities — — — 1,456,220 — 1,456,220 TOTAL ASSETS $ 178,697 $ 224,433 $ 348,470 $ 1,456,220 $ (479,741 ) $ 1,728,079 LIABILITIES Distributions payable $ 8,670 $ — $ — $ — $ — $ 8,670 Accrued and other liabilities 1,322 4,172 9,126 — (2,169 ) 12,451 Contingent liabilities — — 8,142 — — 8,142 Long-term debt — 156,237 — — — 156,237 Subtotal 9,992 160,409 17,268 — (2,169 ) 185,500 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — — 49,350 — 49,350 Accrued and other liabilities — — — 623 (394 ) 229 Interest payable — — — 4,595 (121 ) 4,474 Long-term debt — — — 1,360,255 (48,197 ) 1,312,058 Total Non-Recourse Liabilities of Consolidated Entities — — — 1,414,823 (48,712 ) 1,366,111 TOTAL LIABILITIES 9,992 160,409 17,268 1,414,823 (50,881 ) 1,551,611 EQUITY (Note 10) Common shares 25 1 — — (1 ) 25 Intercompany Preferred Units (1) — — 85,000 — (85,000 ) — Treasury shares (435 ) — — — — (435 ) Additional paid-in capital 994,771 885,377 662,399 — (1,547,781 ) 994,766 Retained earnings (deficit) (825,656 ) (821,354 ) (416,197 ) — 1,237,551 (825,656 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY 168,705 64,024 331,202 — (395,231 ) 168,700 Consolidated Fund Equity/Noncontrolling interests (Note 2) — — — 41,397 (33,629 ) 7,768 TOTAL EQUITY 168,705 64,024 331,202 41,397 (428,860 ) 176,468 TOTAL LIABILITIES AND EQUITY $ 178,697 $ 224,433 $ 348,470 $ 1,456,220 $ (479,741 ) $ 1,728,079 Explanatory Note: _________________________________ (1) CIFC Corp. holds 85.0 million of intercompany non-voting series A preferred units that bear an annual rate of 3.5% . Consolidating Balance Sheets (Unaudited) December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ — $ 1,392 $ 56,576 $ — $ — $ 57,968 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 152,455 — (81,759 ) 70,696 Intercompany investments in subsidiaries 170,174 120,896 61,004 — (352,074 ) — Receivables 785 295 27,242 — (21,247 ) 7,075 Prepaid and other assets — 1,621 352 — — 1,973 Deferred tax asset, net — 44,425 — — — 44,425 Equipment and improvements, net — — 4,866 — — 4,866 Intangible assets, net — 6,232 625 — — 6,857 Goodwill — 66,549 9,451 — — 76,000 Subtotal 170,959 241,410 314,265 — (455,080 ) 271,554 Assets of Consolidated Entities: Restricted cash and cash equivalents — — — 94,018 — 94,018 Due from brokers — — — 25,910 — 25,910 Investments — — — 1,351,403 — 1,351,403 Receivables — — — 4,109 — 4,109 Prepaid and other assets — — — 209 — 209 Total assets of Consolidated Entities — — — 1,475,649 — 1,475,649 TOTAL ASSETS $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 LIABILITIES Due to brokers $ — $ 61 $ — $ — $ — $ 61 Accrued and other liabilities 50 24,185 14,808 — (20,646 ) 18,397 Contingent liabilities — — 8,338 — — 8,338 Long-term debt — 156,161 — — — 156,161 Subtotal 50 180,407 23,146 — (20,646 ) 182,957 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — — 71,603 — 71,603 Accrued and other liabilities — — — 631 (438 ) 193 Interest payable — — — 5,257 (167 ) 5,090 Long-term debt — — — 1,357,095 (48,537 ) 1,308,558 Total Non-Recourse Liabilities of Consolidated Entities — — — 1,434,586 (49,142 ) 1,385,444 TOTAL LIABILITIES 50 180,407 23,146 1,434,586 (69,788 ) 1,568,401 EQUITY (Note 10) Common shares 25 25 — — (25 ) 25 Intercompany Preferred Units (1) — — 85,000 — (85,000 ) — Additional paid-in capital 992,425 992,419 528,946 — (1,521,371 ) 992,419 Retained earnings (deficit) (821,541 ) (931,441 ) (322,827 ) — 1,254,318 (821,491 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY 170,909 61,003 291,119 — (352,078 ) 170,953 Consolidated Fund Equity / Noncontrolling interests (Note 2) — — — 41,063 (33,214 ) 7,849 TOTAL EQUITY 170,909 61,003 291,119 41,063 (385,292 ) 178,802 TOTAL LIABILITIES AND EQUITY $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 Explanatory Note: _________________________________ (1) CIFC Corp. holds 85.0 million of intercompany non-voting series A preferred units that bear an annual rate of 3.5% .	CIFC LLC AND ITS SUBSIDIARIES Consolidating Balance Sheets December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ — $ 1,392 $ 56,576 $ — $ — $ 57,968 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 152,455 — (81,759 ) 70,696 Intercompany investments in subsidiaries 170,174 35,896 61,004 — (267,074 ) — Intercompany investment in wholly-owned subsidiaries of CIFC LLC (Note 16) — 85,000 — — (85,000 ) — Receivables 785 295 27,242 — (21,247 ) 7,075 Prepaid and other assets — 1,621 352 — — 1,973 Deferred tax asset, net — 44,425 — — — 44,425 Equipment and improvements, net — — 4,866 — — 4,866 Intangible assets, net — 6,232 625 — — 6,857 Goodwill — 66,549 9,451 — — 76,000 Subtotal 170,959 241,410 314,265 — (455,080 ) 271,554 Assets of Consolidated Entities: Restricted cash and cash equivalents — — — 94,018 — 94,018 Due from brokers — — — 25,910 — 25,910 Investments — — — 1,351,403 — 1,351,403 Receivables — — — 4,109 — 4,109 Prepaid and other assets — — — 209 — 209 Total assets of Consolidated Entities — — — 1,475,649 — 1,475,649 TOTAL ASSETS $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 LIABILITIES Due to brokers $ — $ 61 $ — $ — $ — $ 61 Accrued and other liabilities 50 24,185 14,808 — (20,646 ) 18,397 Contingent liabilities — — 8,338 — — 8,338 Long-term debt — 156,161 — — — 156,161 Subtotal 50 180,407 23,146 — (20,646 ) 182,957 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — — 71,603 — 71,603 Accrued and other liabilities — — — 631 (438 ) 193 Interest payable — — — 5,257 (167 ) 5,090 Long-term debt — — — 1,357,095 (48,537 ) 1,308,558 Total Non-Recourse Liabilities of Consolidated Entities — — — 1,434,586 (49,142 ) 1,385,444 TOTAL LIABILITIES 50 180,407 23,146 1,434,586 (69,788 ) 1,568,401 EQUITY Common shares, par value $0.001: 500,000,000 shares authorized, 25,314,756 issued and 25,314,756 outstanding as of December 31, 2015 25 25 — — (25 ) 25 Intercompany Preferred Units (Note 16) — — 85,000 — (85,000 ) — Treasury shares, at cost: 130,444 shares as of December 31, 2014 — — — — — Additional paid-in capital 992,425 992,419 528,946 — (1,521,371 ) 992,419 Retained earnings (deficit) (821,541 ) (931,441 ) (322,827 ) — 1,254,318 (821,491 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY 170,909 61,003 291,119 — (352,078 ) 170,953 Consolidated Fund Equity / Noncontrolling interests (Note 2) — — — 41,063 (33,214 ) 7,849 TOTAL EQUITY 170,909 61,003 291,119 41,063 (385,292 ) 178,802 TOTAL LIABILITIES AND EQUITY $ 170,959 $ 241,410 $ 314,265 $ 1,475,649 $ (455,080 ) $ 1,747,203 CIFC LLC AND ITS SUBSIDIARIES Consolidating Balance Sheets December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) ASSETS Cash and cash equivalents $ — $ 2,156 $ 57,134 $ — $ — $ 59,290 Restricted cash and cash equivalents — — 1,694 — — 1,694 Investments — — 80,115 — (41,416 ) 38,699 Intercompany investments in subsidiaries 156,053 — — (156,053 ) — Receivables — 721 5,759 — (4,345 ) 2,135 Prepaid and other assets — 2,106 179 — — 2,285 Deferred tax asset, net — 55,475 — — — 55,475 Equipment and improvements, net — — 5,194 — — 5,194 Intangible assets, net — 13,275 1,799 — — 15,074 Goodwill — 66,550 9,450 — — 76,000 Subtotal — 296,336 161,324 — (201,814 ) 255,846 Assets of Consolidated Entities: Restricted cash and cash equivalents — — 6,872 928,544 — 935,416 Due from brokers — — 36,645 83,896 — 120,541 Investments — — 44,083 11,728,743 11,772,826 Receivables — — 281 40,713 — 40,994 Prepaid and other assets — — — 20,682 — 20,682 Total assets of Consolidated Entities — — 87,881 12,802,578 — 12,890,459 TOTAL ASSETS $ — $ 296,336 $ 249,205 $ 12,802,578 $ (201,814 ) $ 13,146,305 LIABILITIES Accrued and other liabilities — 1,846 13,738 — — 15,584 Contingent liabilities — — 12,668 — — 12,668 Long-term debt — 118,170 — — — 118,170 Subtotal — 120,016 26,406 — — 146,422 Non-Recourse Liabilities of Consolidated Entities: Due to brokers — — 15,583 375,708 — 391,291 Accrued and other liabilities — — — 5,825 (4,343 ) 1,482 Interest payable — — 163 36,013 (2 ) 36,174 Long-term debt — — 51,000 12,023,272 (25,238 ) 12,049,034 Total Non-Recourse Liabilities of Consolidated Entities — — 66,746 12,440,818 (29,583 ) 12,477,981 TOTAL LIABILITIES — 120,016 93,152 12,440,818 (29,583 ) 12,624,403 EQUITY Common shares, par value $0.001: 500,000,000 shares authorized, 25,323,417 issued and 25,192,973 outstanding as of December 31, 2014 — 25 — — — 25 Treasury shares, at cost: 130,444 shares as of December 31, 2014 — (914 ) — — — (914 ) Additional paid-in capital — 988,904 591,518 — (591,518 ) 988,904 Retained earnings (deficit) — (811,695 ) (435,465 ) — 435,465 (811,695 ) TOTAL CIFC LLC SHAREHOLDERS’ EQUITY — 176,320 156,053 — (156,053 ) 176,320 Consolidated Fund Equity/Noncontrolling interests (Note 2) — — — 226,996 (16,178 ) 210,818 Appropriated retained earnings (deficit) of Consolidated VIEs (Note 3) — — — 134,764 134,764 TOTAL EQUITY — 176,320 156,053 361,760 (172,231 ) 521,902 TOTAL LIABILITIES AND EQUITY $ — $ 296,336 $ 249,205 $ 12,802,578 $ (201,814 ) $ 13,146,305
Condensed Income Statement [Table Text Block]	Consolidating Statements of Operations (Unaudited) For The Three Months Ended March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 21,521 $ — $ (1,706 ) $ 19,815 Interest income from investments — 744 3,217 — (3,028 ) 933 Interest income - Consolidated Entities — — — 18,990 — 18,990 Total net revenues — 744 24,738 18,990 (4,734 ) 39,738 Expenses Employee compensation and benefits — — 9,514 — — 9,514 Share-based compensation 130 130 2,121 — — 2,381 Professional services 308 885 879 — — 2,072 General and administrative expenses 132 644 1,741 — — 2,517 Depreciation and amortization — 839 457 — — 1,296 Impairment of intangible assets — — 531 — — 531 Corporate interest expense — 1,957 744 — (744 ) 1,957 Expenses - Consolidated Entities — — — 2,094 (1,706 ) 388 Interest expense - Consolidated Entities — — — 8,595 (175 ) 8,420 Total expenses 570 4,455 15,987 10,689 (2,625 ) 29,076 Other Gain (Loss) Net gain (loss) on investments — — 1,677 — (1,406 ) 271 Net gain (loss) on contingent liabilities — — (364 ) — — (364 ) Net gain (loss) on investments - Consolidated Entities — — — 2,600 — 2,600 Net gain (loss) on liabilities - Consolidated Entities — — — (10,487 ) 3,103 (7,384 ) Intercompany net gain (loss) on investments in subsidiaries 5,075 5,859 871 — (11,805 ) — Net other gain (loss) 5,075 5,859 2,184 (7,887 ) (10,108 ) (4,877 ) Income (loss) before income taxes 4,505 2,148 10,935 414 (12,217 ) 5,785 Income tax (expense) benefit — (1,278 ) — — — (1,278 ) Net income (loss) 4,505 870 10,935 414 (12,217 ) 4,507 Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (414 ) 412 (2 ) Net income (loss) attributable to CIFC LLC $ 4,505 $ 870 $ 10,935 $ — $ (11,805 ) $ 4,505 Consolidating Statements of Operations (Unaudited) For The Three Months Ended March 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 21,833 $ — $ (219 ) $ 21,614 Interest income from investments — — 2,736 — (129 ) 2,607 Interest income - Consolidated Entities — — 823 1,933 — 2,756 Total net revenues — — 25,392 1,933 (348 ) 26,977 Expenses Employee compensation and benefits — — 8,564 — — 8,564 Share-based compensation — 142 1,538 — — 1,680 Professional services — 1,078 848 — — 1,926 General and administrative expenses — 958 1,339 — — 2,297 Depreciation and amortization — 1,821 588 — — 2,409 Impairment of intangible assets — 281 — — — 281 Corporate interest expense — 494 — — — 494 Expenses - Consolidated Entities — — 15 1,472 (219 ) 1,268 Interest expense - Consolidated Entities — — 231 513 — 744 Total expenses — 4,774 13,123 1,985 (219 ) 19,663 Other Gain (Loss) Net gain (loss) on investments — — 939 — 254 1,193 Net gain (loss) on contingent liabilities — — (713 ) — — (713 ) Net gain (loss) on investments - Consolidated Entities — — 796 2,001 — 2,797 Net gain (loss) on liabilities - Consolidated Entities — — — (1,826 ) (434 ) (2,260 ) Net gain (loss) on other investments and derivatives - Consolidated Entities — — — 438 — 438 Intercompany net gain (loss) on investments in subsidiaries — 13,289 — — (13,289 ) — Net other gain (loss) — 13,289 1,022 613 (13,469 ) 1,455 Income (loss) before income taxes — 8,515 13,291 561 (13,598 ) 8,769 Income tax (expense) benefit — (3,087 ) — — — (3,087 ) Net income (loss) — 5,428 13,291 561 (13,598 ) 5,682 Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (561 ) 307 (254 ) Net income (loss) attributable to CIFC LLC $ — $ 5,428 $ 13,291 $ — $ (13,291 ) $ 5,428	CIFC LLC AND ITS SUBSIDIARIES Consolidating Statements of Operations For The Year Ended December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 96,765 $ — $ (4,686 ) $ 92,079 Interest income from investments — — 6,564 — (1,231 ) 5,333 Interest income - Consolidated Entities — — 823 24,283 — 25,106 Total net revenues — — 104,152 24,283 (5,917 ) 122,518 Expenses Employee compensation and benefits — — 32,027 — — 32,027 Share-based compensation — 299 5,251 — — 5,550 Professional services 50 6,411 3,474 — — 9,935 General and administrative expenses — 3,392 6,530 — — 9,922 Depreciation and amortization — 5,543 2,234 — — 7,777 Impairment of intangible assets — 1,501 327 — — 1,828 Corporate interest expense — 3,808 — — — 3,808 Expenses - Consolidated Entities — — 15 15,448 (4,689 ) 10,774 Interest expense - Consolidated Entities — — 232 9,839 (167 ) 9,904 Total expenses 50 20,954 50,090 25,287 (4,856 ) 91,525 Other Gain (Loss) Net gain (loss) on investments — — (6,071 ) — 1,890 (4,181 ) Net gain (loss) on contingent liabilities — — (2,210 ) — — (2,210 ) Net gain (loss) on investments - Consolidated Entities — — 796 (26,910 ) — (26,114 ) Net gain (loss) on liabilities - Consolidated Entities — — — 26,147 (1,401 ) 24,746 Net gain (loss) on other investments and derivatives - Consolidated Entities — — — 2,970 — 2,970 Intercompany net gain (loss) on investments in subsidiaries — 46,577 — — (46,577 ) — Net other gain (loss) — 46,577 (7,485 ) 2,207 (46,088 ) (4,789 ) Income (loss) before income taxes (50 ) 25,623 46,577 1,203 (47,149 ) 26,204 Income tax (expense) benefit — (25,239 ) — — — (25,239 ) Net income (loss) (50 ) 384 46,577 1,203 (47,149 ) 965 Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (1,203 ) 572 (631 ) Net income (loss) attributable to CIFC LLC $ (50 ) $ 384 $ 46,577 $ — $ (46,577 ) $ 334 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statements of Operations For The Year Ended December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Revenues Management and incentive fees $ — $ — $ 84,201 $ — $ (79,333 ) $ 4,868 Interest income from investments — 1 10,341 — (9,552 ) 790 Interest income - Consolidated Entities — — 2,387 514,865 — 517,252 Total net revenues — 1 96,929 514,865 (88,885 ) 522,910 Expenses Employee compensation and benefits — — 28,805 — — 28,805 Share-based compensation — 274 2,418 — — 2,692 Professional services — 3,964 3,295 — — 7,259 General and administrative expenses — 3,523 7,163 — — 10,686 Depreciation and amortization — 8,512 2,909 — — 11,421 Corporate interest expense — 3,915 321 — — 4,236 Expenses - Consolidated Entities — — 1,025 118,383 (79,334 ) 40,074 Interest expense - Consolidated Entities — — 425 171,513 (7 ) 171,931 Total expenses — 20,188 46,361 289,896 (79,341 ) 277,104 Other Gain (Loss) Net gain (loss) on investments — — 3,664 — (1,190 ) 2,474 Net gain (loss) on contingent liabilities — — (2,932 ) — — (2,932 ) Net gain (loss) on investments - Consolidated Entities — — (803 ) (227,974 ) — (228,777 ) Net gain (loss) on liabilities - Consolidated Entities — — — (18,123 ) 9,127 (8,996 ) Net gain (loss) on other investments and derivatives - Consolidated Entities — — — 2,031 — 2,031 Intercompany net gain (loss) on investments in subsidiaries — 50,726 — — (50,726 ) — Net gain on sale of management contract — — 229 — — 229 Net other gain (loss) — 50,726 158 (244,066 ) (42,789 ) (235,971 ) Income (loss) before income taxes — 30,539 50,726 (19,097 ) (52,333 ) 9,835 Income tax (expense) benefit — (22,158 ) — — — (22,158 ) Net income (loss) — 8,381 50,726 (19,097 ) (52,333 ) (12,323 ) Net (income) loss attributable to noncontrolling interests in Consolidated Entities — — — 19,097 1,607 20,704 Net income (loss) attributable to CIFC LLC $ — $ 8,381 $ 50,726 $ — $ (50,726 ) $ 8,381
Condensed Statement of Comprehensive Income [Table Text Block]	Consolidating Statement of Comprehensive Income (Loss) (Unaudited) For The Three Months Ended March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ 4,505 $ 870 $ 10,935 $ 414 $ (12,217 ) $ 4,507 Other comprehensive income (loss) — — — — — — Comprehensive income (loss) 4,505 870 10,935 414 (12,217 ) 4,507 Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (414 ) 412 (2 ) Comprehensive income (loss) attributable to CIFC LLC $ 4,505 $ 870 $ 10,935 $ — $ (11,805 ) $ 4,505 Consolidating Statement of Comprehensive Income (Loss) (Unaudited) For The Three Months Ended March 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ — $ 5,428 $ 13,291 $ 561 $ (13,598 ) $ 5,682 Other comprehensive income (loss) — — — — — — Comprehensive income (loss) — 5,428 13,291 561 (13,598 ) 5,682 Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (561 ) 307 (254 ) Comprehensive income (loss) attributable to CIFC LLC $ — $ 5,428 $ 13,291 $ — $ (13,291 ) $ 5,428	CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Comprehensive Income (Loss) For The Year Ended December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ (50 ) $ 384 $ 46,577 $ 1,203 $ (47,149 ) $ 965 Other comprehensive income (loss) — — — — — — Comprehensive income (loss) (50 ) 384 46,577 1,203 (47,149 ) 965 Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — (1,203 ) 572 (631 ) Comprehensive income (loss) attributable to CIFC LLC $ (50 ) $ 384 $ 46,577 $ — $ (46,577 ) $ 334 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Comprehensive Income (Loss) For The Year Ended December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) Net income (loss) $ — $ 8,381 $ 50,726 $ (19,097 ) $ (52,333 ) $ (12,323 ) Other comprehensive income (loss) — — — — — — Comprehensive income (loss) — 8,381 50,726 (19,097 ) (52,333 ) (12,323 ) Comprehensive (income) loss attributable to noncontrolling interests in Consolidated Entities — — — 19,097 1,607 20,704 Comprehensive income (loss) attributable to CIFC LLC $ — $ 8,381 $ 50,726 $ — $ (50,726 ) $ 8,381
Condensed Cash Flow Statement [Table Text Block]	Consolidating Statement of Cash Flows (Unaudited) For The Three Months Ended March 31, 2016 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In Thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 4,505 $ 870 $ 10,935 $ 414 $ (12,217 ) $ 4,507 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 76 — — — 76 Share-based compensation 130 130 2,121 — — 2,381 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — (1,315 ) — 1,408 93 Intercompany net (gain) loss on investments in subsidiaries (5,075 ) (5,859 ) (871 ) — 11,805 — Depreciation and amortization — 839 457 — — 1,296 Impairment of intangible assets — — 531 — — 531 Deferred income tax expense (benefit) — 1,315 — — — 1,315 Excess tax benefits from share-based payment arrangements — 230 — — — 230 Consolidated Entities: Net (gain) loss on investments — — — (2,600 ) — (2,600 ) Net (gain) loss on liabilities — — — 10,487 (3,103 ) 7,384 Changes in operating assets and liabilities: Receivables 631 (3,120 ) 19,335 — (18,696 ) (1,850 ) Prepaid and other assets — 451 (1,299 ) — — (848 ) Due to brokers — (62 ) 1 — — (61 ) Accrued and other liabilities 1,142 (20,015 ) (5,194 ) — 18,606 (5,461 ) Consolidated Entities: Due from brokers — — — 1,616 — 1,616 Purchase of investments — — — (114,723 ) — (114,723 ) Sales of investments — — — 121,766 — 121,766 Receivables — — — (52 ) — (52 ) Due to brokers — — — (22,253 ) — (22,253 ) Accrued and other liabilities — — — (11 ) 43 32 Interest payable — — — (660 ) 44 (616 ) Net cash provided by (used in) operating activities 1,333 (25,145 ) 24,701 (6,016 ) (2,110 ) (7,237 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of investments — — (17,553 ) — 1,419 (16,134 ) Sales of investments — — 12,466 — (2,754 ) 9,712 Intercompany investments in subsidiaries — 22,474 (2,151 ) — (20,323 ) — Purchases of equipment and improvements — — (61 ) — — (61 ) Consolidated Entities: Change in restricted cash and cash equivalents — — — 13,426 — 13,426 Net cash provided by (used in) investing activities — 22,474 (7,299 ) 13,426 (21,658 ) 6,943 CASH FLOWS FROM FINANCING ACTIVITIES: Repurchases of common shares (435 ) — — — — (435 ) Intercompany contributions — 1,891 9,629 24 (11,544 ) — Intercompany distributions — — (32,073 ) (24 ) 32,097 — Proceeds from the exercise of options 241 — — — — 241 Payments for tax from the net delivery of restricted share units (45 ) — — — — (45 ) Payments on contingent liabilities — — (999 ) — — (999 ) Excess tax benefits from share-based payment arrangements — (230 ) — — — (230 ) Consolidated Entities: Distributions to noncontrolling interests — — — (83 ) — (83 ) Proceeds from issuance of long-term debt — — — 3,830 — 3,830 Payments made on long-term debt — — — (11,157 ) 3,215 (7,942 ) Net cash provided by (used in) financing activities (239 ) 1,661 (23,443 ) (7,410 ) 23,768 (5,663 ) Net increase (decrease) in cash and cash equivalents 1,094 (1,010 ) (6,041 ) — — (5,957 ) Cash and cash equivalents at beginning of period — 1,392 56,576 — — 57,968 Cash and cash equivalents at end of period $ 1,094 $ 382 $ 50,535 $ — $ — $ 52,011 Consolidating Statement of Cash Flows (Unaudited) For The Three Months Ended March 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ — $ 5,428 $ 13,291 $ 561 $ (13,598 ) $ 5,682 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 22 — — — 22 Share-based compensation — 142 1,538 — — 1,680 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — (225 ) — (255 ) (480 ) Intercompany net (gain) loss on investments in subsidiaries — (13,289 ) — — 13,289 — Depreciation and amortization — 1,821 588 — — 2,409 Impairment of intangible assets — 281 — — — 281 Deferred income tax expense (benefit) — (150 ) — — — (150 ) Excess tax benefits from share-based payment arrangements — (8 ) — — — (8 ) Consolidated Entities: Net (gain) loss on investments — — (796 ) (2,001 ) — (2,797 ) Net (gain) loss on liabilities — — — 1,826 434 2,260 Net other (gain) loss — — — (438 ) — (438 ) Changes in operating assets and liabilities: Due from brokers — — (974 ) — — (974 ) Receivables — 721 (3,163 ) — 2,903 461 Prepaid and other assets — 486 (1,489 ) — — (1,003 ) Due to brokers — — 6,245 — — 6,245 Accrued and other liabilities — 3,480 (7,920 ) — (2,514 ) (6,954 ) Consolidated Entities: Due from brokers — — 14,459 (4,111 ) — 10,348 Purchase of investments — — (55,017 ) (88,697 ) — (143,714 ) Sales of investments — — 47,462 21,677 — 69,139 Receivables — — (352 ) (86 ) — (438 ) Due to brokers — — (7,882 ) 55,950 — 48,068 Accrued and other liabilities — — 6 384 (390 ) — Interest payable — — (8 ) 18 — 10 Net cash provided by (used in) operating activities — (1,066 ) 5,763 (14,917 ) (131 ) (10,351 ) CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from the sale of management contracts — — — — — — Purchases of investments — — (78,632 ) — 65,439 (13,193 ) Sales of investments — — 57,449 — (22,148 ) 35,301 Intercompany investments in subsidiaries — (123,962 ) — — 123,962 — Intercompany distributions from subsidiaries — 123,962 — — (123,962 ) — Purchases of equipment and improvements — — (403 ) — — (403 ) Consolidated Entities: Change in restricted cash and cash equivalents — — 755 (55,628 ) — (54,873 ) Net cash provided by (used in) investing activities — — (20,831 ) (55,628 ) 43,291 (33,168 ) CASH FLOWS FROM FINANCING ACTIVITIES: Intercompany contributions — — 123,962 — (123,962 ) — Intercompany distributions — — (123,962 ) — 123,962 — Proceeds from the exercise of options — 121 — — — 121 Payments for tax from the net delivery of restricted share units — (265 ) — — — (265 ) Payments on contingent liabilities — — (1,559 ) — — (1,559 ) Excess tax benefits from share-based payment arrangements — 8 — — — 8 Consolidated Entities: Contributions from noncontrolling interests — — — 14,712 (2,612 ) 12,100 Distributions to noncontrolling interests — — — (970 ) — (970 ) Proceeds from issuance of long-term debt — — — 73,777 10,323 84,100 Payments made on long-term debt — — — (16,974 ) (50,871 ) (67,845 ) Net cash provided by (used in) financing activities — (136 ) (1,559 ) 70,545 (43,160 ) 25,690 Net increase (decrease) in cash and cash equivalents — (1,202 ) (16,627 ) — — (17,829 ) Cash and cash equivalents at beginning of period — 2,156 57,134 — — 59,290 Cash and cash equivalents at end of period $ — $ 954 $ 40,507 $ — $ — $ 41,461	CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Cash Flows For The Year Ended December 31, 2015 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In Thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (50 ) $ 384 $ 46,577 $ 1,203 $ (47,149 ) $ 965 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 125 — — — 125 Share-based compensation — 299 5,251 — — 5,550 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — 8,281 — (1,890 ) 6,391 Intercompany net (gain) loss on investments in subsidiaries — (46,577 ) — 46,577 — Depreciation and amortization — 5,543 2,234 — — 7,777 Impairment of intangible assets — 1,501 327 — — 1,828 Deferred income tax expense (benefit) — 11,050 — — — 11,050 Excess tax benefits from share-based payment arrangements — 128 — — — 128 Consolidated Entities: Net (gain) loss on investments — — (796 ) 26,910 — 26,114 Net (gain) loss on liabilities — — — (26,147 ) 1,401 (24,746 ) Net other (gain) loss — — — (2,970 ) — (2,970 ) Changes in operating assets and liabilities: Receivables (785 ) 424 (21,480 ) (245 ) 21,179 (907 ) Prepaid and other assets — 481 (168 ) — — 313 Due to brokers — 61 — — — 61 Accrued and other liabilities 50 22,219 (1,928 ) — (20,649 ) (308 ) Consolidated Entities: Due from brokers — — 36,645 (27,647 ) — 8,998 Purchase of investments — — (55,017 ) (951,887 ) — (1,006,904 ) Sales of investments — — 99,895 371,805 — 471,700 Receivables — — 281 (1,618 ) — (1,337 ) Due to brokers — — (15,583 ) 59,008 — 43,425 Accrued and other liabilities — — — 460 (373 ) 87 Interest payable — — (163 ) 2,622 (167 ) 2,292 Net cash provided by (used in) operating activities (785 ) (4,362 ) 104,356 (548,506 ) (1,071 ) (450,368 ) CASH FLOWS FROM INVESTING ACTIVITIES: — Purchases of investments — — (232,539 ) — 166,008 (66,531 ) Sales of investments — — 154,179 9,660 (94,977 ) 68,862 Intercompany investments in subsidiaries — (148,422 ) — — 148,422 — Intercompany distributions from subsidiaries 785 125,404 — — (126,189 ) — Purchases of equipment and improvements — — (1,059 ) — — (1,059 ) Consolidated Entities: Change in restricted cash and cash equivalents — — 6,871 (48,005 ) — (41,134 ) Net cash provided by (used in) investing activities 785 (23,018 ) (72,548 ) (38,345 ) 93,264 (39,862 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of long-term debt — 40,000 — — — 40,000 Debt issuance cost — (2,133 ) — — — (2,133 ) Repurchases of common shares — (1,151 ) — — — (1,151 ) Distributions paid — (10,130 ) — — — (10,130 ) Intercompany contributions — — 148,422 — (148,422 ) — Intercompany distributions — — (126,189 ) — 126,189 — Proceeds from extension of warrants — 350 — — — 350 Proceeds from the exercise of options — 74 — — — 74 Payments for tax from the net delivery of restricted stock units — (266 ) — — — (266 ) Deferred purchase payments and payments on contingent liabilities — — (3,599 ) — — (3,599 ) Excess tax benefits from share-based payment arrangements — (128 ) — — — (128 ) Consolidated Entities: Contributions from noncontrolling interests — — — 37,741 (21,641 ) 16,100 Distributions to noncontrolling interests — — — (15,307 ) — (15,307 ) Proceeds from issuance of long-term debt — — — 809,695 (173,772 ) 635,923 Payments made on long-term debt — — (51,000 ) (245,278 ) 125,453 (170,825 ) Net cash provided by (used in) financing activities — 26,616 (32,366 ) 586,851 (92,193 ) 488,908 Net increase (decrease) in cash and cash equivalents — (764 ) (558 ) — — (1,322 ) Cash and cash equivalents at beginning of period — 2,156 57,134 — — 59,290 Cash and cash equivalents at end of period $ — $ 1,392 $ 56,576 $ — $ — $ 57,968 CIFC LLC AND ITS SUBSIDIARIES Consolidating Statement of Cash Flows For The Year Ended December 31, 2014 Parent/ CIFC LLC Subsidiary Issuer/ CIFC Corp. Subsidiary Guarantors Non Guarantors Eliminations CIFC LLC Consolidated (In thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ — $ 8,381 $ 50,726 $ (19,097 ) $ (52,333 ) $ (12,323 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Amortization of debt issuance costs and other — 696 321 — — 1,017 Share-based compensation — 274 2,418 — — 2,692 Net (gain) loss on investments and contingent liabilities / other (gain) loss — — (731 ) — 1,189 458 Intercompany net (gain) loss on investments in subsidiaries — (50,726 ) — — 50,726 — Depreciation and amortization — 8,512 2,909 — — 11,421 Deferred income tax expense (benefit) — 3,932 — — — 3,932 Excess tax benefits from share-based payment arrangements — (171 ) — — — (171 ) Net gain on the sale of management contract — — (229 ) — — (229 ) Consolidated Entities: Net (gain) loss on investments — — 803 227,974 — 228,777 Net (gain) loss on liabilities — — — 18,123 (9,127 ) 8,996 Net other (gain) loss — — (2,031 ) — (2,031 ) Changes in operating assets and liabilities: Due from brokers — — 13,827 (995 ) — 12,832 Receivables — (721 ) 441 17 243 (20 ) Prepaid and other assets — 361 43 222 — 626 Due to brokers — — (508 ) (4,991 ) — (5,499 ) Accrued and other liabilities — (666 ) 2,246 (271 ) 269 1,578 Change in restricted cash and cash equivalents — 1,615 (1,608 ) — 7 Consolidated Entities: Due from brokers — — (36,645 ) 160,765 — 124,120 Purchase of investments — — (102,448 ) (8,715,405 ) — (8,817,853 ) Sales of investments — — 57,563 7,331,128 13,761 7,402,452 Receivables — — (281 ) (24,613 ) 1 (24,893 ) Due to brokers — — 15,583 (220,939 ) (13,761 ) (219,117 ) Accrued and other liabilities — — — 1,653 (508 ) 1,145 Interest payable — — 163 13,647 (3 ) 13,807 Net cash provided by (used in) operating activities — (28,513 ) 4,593 (1,234,813 ) (9,543 ) (1,268,276 ) CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from the sale of management contracts — — 229 — 229 Purchases of investments — — (136,136 ) 15,735 91,257 (29,144 ) Sales of investments — — 172,819 1,001 (153,336 ) 20,484 Intercompany investments in subsidiaries — (440,277 ) — — 440,277 — Intercompany distributions from subsidiaries — 478,341 — — (478,341 ) — Purchases of equipment and improvements — — (2,204 ) — — (2,204 ) Consolidated Entities: Change in restricted cash and cash equivalents — — (6,873 ) (206,021 ) — (212,894 ) Net cash provided by (used in) investing activities — 38,064 27,835 (189,285 ) (100,143 ) (223,529 ) CASH FLOWS FROM FINANCING ACTIVITIES: Distributions paid — (9,218 ) — — — (9,218 ) Intercompany contributions — — 440,277 — (440,277 ) — Intercompany distributions — — (478,341 ) — 478,341 — Proceeds from extension of warrants — 200 — — 200 Proceeds from the exercise of options — 580 — — — 580 Deferred purchase payments and payments on contingent liabilities — — (8,724 ) — — (8,724 ) Excess tax benefits from share-based payment arrangements — 171 — — — 171 Consolidated Entities: Contributions from noncontrolling interests — — — 93,587 (100 ) 93,487 Distributions to noncontrolling interests — — — (37,783 ) 10,685 (27,098 ) Proceeds from issuance of long-term debt — — 51,000 4,702,304 (112,323 ) 4,640,981 Payments made on long-term debt — — — (3,338,141 ) 173,360 (3,164,781 ) Net cash provided by (used in) financing activities — (8,267 ) 4,212 1,419,967 109,686 1,525,598 Net increase (decrease) in cash and cash equivalents — 1,284 36,640 (4,131 ) — 33,793 Cash and cash equivalents at beginning of period 872 20,494 4,131 — 25,497 Cash and cash equivalents at end of period $ — $ 2,156 $ 57,134 $ — $ — $ 59,290

ORGANIZATION AND BUSINESS (D101

ORGANIZATION AND BUSINESS (Details) $ in Millions	Jul. 12, 2014USD ($)shares	Jul. 12, 2014USD ($)shares	Dec. 31, 2015shares	Mar. 31, 2016shares	Dec. 31, 2014USD ($)shares	Dec. 31, 2013shares
Organization, Consolidation and Presentation of Financial Statements
Number of Reportable Segments			1
Distribution Made to Limited Liability Company (LLC) Member, Unit Distribution			1
Debt Instrument, Convertible, Number of Equity Instruments	4,132,231	4,132,231
Sources of revenue			3	3
DFR Holdings LLC
Organization, Consolidation and Presentation of Financial Statements
Percentage of CIFC Common Shares Outstanding			74.00%	74.00%
Percentage of CIFC Common Shares Diluted			70.00%	70.00%
DFR Holdings LLC
Organization, Consolidation and Presentation of Financial Statements
Related Party Transaction, Number of Shares Owned by Related Party			18,800,000	18,800,000	18,800,000	10,090,909
Convertible Debt
Organization, Consolidation and Presentation of Financial Statements
Debt Instrument, face amount | $	$ 25	$ 25			$ 25
Warrant | DFR Holdings LLC
Organization, Consolidation and Presentation of Financial Statements
Class of warrant, outstanding			2,000,000	2,000,000	2,000,000	2,000,000

BASIS OF PRESENTATION AND PR102

BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2016USD ($)item	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Jan. 01, 2015
Basis of Presentation and Principles of Consolidation
Investments	$ 77,347,000	$ 70,696,000
Investments in Funds
General Partners' Investment	$ 81,800,000	$ 81,800,000	$ 62,600,000
Consolidated VIEs [Abstract]
Number of CLOs consolidated	2	2	31	1
Number of Credit Funds Consolidated	2	2
Number of CLOs Deconsolidated				30
Unconsolidated VIEs [Abstract]
Number of CLOs not consolidated	26	28	1
Number of CDOs not consolidated	8	8	8
Number of Credit Funds not consolidated	2	2	4
Maximum exposure to loss	$ 82,338,000	$ 82,357,000
Unconsolidated VIE, investment in	$ 39,500,000	$ 29,000,000
Warehouses
Consolidated VIEs [Abstract]
Warehouses deconsolidated		2	6
Warehouses consolidated		2	7
Consolidated Warehouse Investments Held	0	0	1	1
Accounts Receivable
Unconsolidated VIEs [Abstract]
Maximum exposure to loss	$ 394,000	$ 605,000
Accounts Receivable | Variable Interest Entity, Not Primary Beneficiary
Unconsolidated VIEs [Abstract]
Maximum exposure to loss	$ 4,500,000	$ 4,100,000	$ 300,000
Minimum [Member]
Consolidated VIEs [Abstract]
Equity leverage | item	3	3
Maximum [Member]
Consolidated VIEs [Abstract]
Equity leverage | item	5	5
Consolidated VIEs | Tactical Income Fund
Investments in Funds
General Partners' Investment	$ 33,600,000	$ 33,200,000	11,000,000
Consolidated VIEs [Abstract]
Noncontrolling Interest in Variable Interest Entity	7,800,000	7,800,000	6,500,000
Unconsolidated VOE [Member] | Co-Investment Fund
Investments in Funds
General Partners' Investment	11,800,000	12,100,000	16,600,000
Unconsolidated VOE [Member] | Warehouse Fund
Investments in Funds
General Partners' Investment	14,700,000	13,900,000	10,600,000
Unconsolidated VIE [Member] | Senior Secured Loan Fund
Investments in Funds
General Partners' Investment	$ 5,500,000	$ 5,400,000	5,200,000
Consolidated VIEs [Abstract]
Noncontrolling Interest in Variable Interest Entity			$ 204,500,000

SUMMARY OF SIGNIFICANT ACCOU103

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING UPDATES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING UPDATES (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Mar. 31, 2016	Jan. 01, 2015USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unamortized Debt Issuance Expense			$ 1,800
Number of CLOs consolidated		2	31	2	1
Number of CLOs Deconsolidated					30
Deconsolidation, Revaluation of Retained Investment, Gain (Loss), Amount	$ (332,270)
Adoption of ASU 2014-13 (Note 3)	(6,887)
Non cash Assets Deconsolidated					$ 12,582,290
Non cash Liabilities Deconsolidated					$ 12,250,020
Retained Earnings, Appropriated [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deconsolidation, Revaluation of Retained Investment, Gain (Loss), Amount	(127,877)	$ (127,877)
Adoption of ASU 2014-13 (Note 3)	(6,887)	(6,887)
Noncontrolling Interest [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deconsolidation, Revaluation of Retained Investment, Gain (Loss), Amount	$ (204,393)	$ (204,393)
Warehouses
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Consolidated Warehouse Investments Held		0	1	0	1
Warehouses consolidated		2	7
Warehouses deconsolidated		2	6
CIFC LLC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deconsolidation, Revaluation of Retained Investment, Gain (Loss), Amount		$ (332,270)
Adoption of ASU 2014-13 (Note 3)		(6,887)
CIFC LLC | Retained Earnings, Appropriated [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deconsolidation, Revaluation of Retained Investment, Gain (Loss), Amount		(127,877)
Adoption of ASU 2014-13 (Note 3)		(6,887)
CIFC LLC | Noncontrolling Interest [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deconsolidation, Revaluation of Retained Investment, Gain (Loss), Amount		$ (204,393)

CONSOLIDATED VIEs (Details)104

CONSOLIDATED VIEs (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Consolidated Variable Interest Entities
Maximum exposure to loss		$ 82,338	$ 82,357
Accounts Receivable [Member]
Consolidated Variable Interest Entities
Maximum exposure to loss		394	605
Investment and beneficial interests in CLOs
Consolidated Variable Interest Entities
Maximum exposure to loss	[1]	$ 81,944	81,752
CIFC LLC
Consolidated Variable Interest Entities
Maximum exposure to loss			82,357	$ 50,851
CIFC LLC | Accounts Receivable [Member]
Consolidated Variable Interest Entities
Maximum exposure to loss			605	4,200
CIFC LLC | Investment and beneficial interests in CLOs
Consolidated Variable Interest Entities
Maximum exposure to loss	[1]		81,752	46,651
CIFC Corp
Consolidated Variable Interest Entities
Maximum exposure to loss			0	50,851
CIFC Corp | Accounts Receivable [Member]
Consolidated Variable Interest Entities
Maximum exposure to loss			0	4,200
CIFC Corp | Investment and beneficial interests in CLOs
Consolidated Variable Interest Entities
Maximum exposure to loss	[1]		$ 0	$ 46,651
[1]	Investments made in our Consolidated VIEs are eliminated in consolidation.

FAIR VALUE (Details 1 - Hier105

FAIR VALUE (Details 1 - Hierarchy Table) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Liability Rollforward
Contingent Liabilities		$ 8,142	$ 8,338
Fair Value, Option, Loans Held as Assets, Aggregate unpaid principal balance, Loans		1,400,000	1,385,000	$ 12,000,000
Recurring basis
Liability Rollforward
Investment in Funds		31,977	31,411
Other Investments		45,370	39,285
Investments in loans, corporate bonds and other products		77,347	70,696
Assets, Fair Value Disclosure		1,424,310	1,422,099
Contingent Liabilities		8,142	8,338
Financial and Nonfinancial Liabilities, Fair Value Disclosure		8,142	8,338
Recurring basis | Fair Value, Inputs, Level 2 [Member]
Liability Rollforward
Other Investments		1,558	1,768
Investments in loans, corporate bonds and other products		1,558	1,768
Assets, Fair Value Disclosure		1,054,844	1,070,147
Recurring basis | Level 3
Liability Rollforward
Other Investments		43,812	37,517
Investments in loans, corporate bonds and other products		43,812	37,517
Assets, Fair Value Disclosure		337,489	320,541
Contingent Liabilities		8,142	8,338
Financial and Nonfinancial Liabilities, Fair Value Disclosure		8,142	8,338
CIFC LLC
Liability Rollforward
Contingent Liabilities			8,338	12,668
CIFC LLC | Recurring basis
Liability Rollforward
Investment in Funds	[1]		31,411	27,169
Loans Receivable, Fair Value Disclosure				3,926
Other Investments			39,285	7,604
Investments in loans, corporate bonds and other products			70,696	38,699
Assets, Fair Value Disclosure			1,422,099	11,811,525
Contingent Liabilities			8,338	12,668
Financial and Nonfinancial Liabilities, Fair Value Disclosure			8,338	12,061,702
CIFC LLC | Recurring basis | Fair Value, Inputs, Level 2 [Member]
Liability Rollforward
Loans Receivable, Fair Value Disclosure				2,959
Other Investments			1,768
Investments in loans, corporate bonds and other products			1,768	2,959
Assets, Fair Value Disclosure			1,070,147	9,187,447
CIFC LLC | Recurring basis | Level 3
Liability Rollforward
Loans Receivable, Fair Value Disclosure				967
Other Investments			37,517	7,604
Investments in loans, corporate bonds and other products			37,517	8,571
Assets, Fair Value Disclosure			320,541	2,596,909
Contingent Liabilities			8,338	12,668
Financial and Nonfinancial Liabilities, Fair Value Disclosure			8,338	12,061,702
CIFC Corp
Liability Rollforward
Contingent Liabilities			8,338	12,668
CIFC Corp | Recurring basis
Liability Rollforward
Investment in Funds	[1]			27,169
Loans Receivable, Fair Value Disclosure				3,926
Other Investments			739	7,604
Investments in loans, corporate bonds and other products			739	38,699
Assets, Fair Value Disclosure			739	11,811,525
Contingent Liabilities			8,338
Financial and Nonfinancial Liabilities, Fair Value Disclosure			8,338	12,061,702
CIFC Corp | Recurring basis | Fair Value, Inputs, Level 2 [Member]
Liability Rollforward
Loans Receivable, Fair Value Disclosure				2,959
Investments in loans, corporate bonds and other products				2,959
Assets, Fair Value Disclosure				9,187,447
CIFC Corp | Recurring basis | Level 3
Liability Rollforward
Loans Receivable, Fair Value Disclosure				967
Other Investments			739	7,604
Investments in loans, corporate bonds and other products			739	8,571
Assets, Fair Value Disclosure			739
Contingent Liabilities			8,338	12,668
Financial and Nonfinancial Liabilities, Fair Value Disclosure			8,338	12,061,702
Consolidated Entities | Recurring basis
Liability Rollforward
Loans Receivable, Fair Value Disclosure	[2]	1,345,043	1,349,407
Other Investments		1,920	1,996
Investments in loans, corporate bonds and other products		1,346,963	1,351,403
Consolidated Entities | Recurring basis | Fair Value, Inputs, Level 1 [Member]
Liability Rollforward
Other Investments			0
Consolidated Entities | Recurring basis | Fair Value, Inputs, Level 2 [Member]
Liability Rollforward
Loans Receivable, Fair Value Disclosure	[2]	1,052,484	1,067,539
Other Investments		802	840
Investments in loans, corporate bonds and other products		1,053,286	1,068,379
Consolidated Entities | Recurring basis | Level 3
Liability Rollforward
Loans Receivable, Fair Value Disclosure	[2]	292,559	281,868
Other Investments		1,118	1,156
Investments in loans, corporate bonds and other products		$ 293,677	283,024
Consolidated Entities | CIFC LLC | Recurring basis
Liability Rollforward
Loans Receivable, Fair Value Disclosure	[3]		1,349,407	11,702,375
Other Investments			1,996	69,973
Financial Instruments, Owned, Corporate Debt, at Fair Value				478
Investments in loans, corporate bonds and other products			1,351,403	11,772,826
Long-term Debt, at Fair Value	[3]			12,049,034
Financial and Nonfinancial Liabilities, Fair Value Disclosure				12,049,034
Consolidated Entities | CIFC LLC | Recurring basis | Fair Value, Inputs, Level 2 [Member]
Liability Rollforward
Loans Receivable, Fair Value Disclosure	[3]		1,067,539	9,184,488
Other Investments			840
Investments in loans, corporate bonds and other products			1,068,379	9,184,488
Consolidated Entities | CIFC LLC | Recurring basis | Level 3
Liability Rollforward
Loans Receivable, Fair Value Disclosure	[3]		281,868	2,517,887
Other Investments			1,156	69,973
Financial Instruments, Owned, Corporate Debt, at Fair Value				478
Investments in loans, corporate bonds and other products			$ 283,024	2,588,338
Long-term Debt, at Fair Value	[3]			12,049,034
Financial and Nonfinancial Liabilities, Fair Value Disclosure				12,049,034
Consolidated Entities | CIFC Corp | Recurring basis
Liability Rollforward
Loans Receivable, Fair Value Disclosure	[3]			11,702,375
Other Investments				69,973
Financial Instruments, Owned, Corporate Debt, at Fair Value				478
Investments in loans, corporate bonds and other products				11,772,826
Long-term Debt, at Fair Value	[3]			12,049,034
Financial and Nonfinancial Liabilities, Fair Value Disclosure				12,049,034
Consolidated Entities | CIFC Corp | Recurring basis | Fair Value, Inputs, Level 2 [Member]
Liability Rollforward
Loans Receivable, Fair Value Disclosure	[3]			9,184,488
Investments in loans, corporate bonds and other products				9,184,488
Consolidated Entities | CIFC Corp | Recurring basis | Level 3
Liability Rollforward
Loans Receivable, Fair Value Disclosure	[3]			2,517,887
Other Investments				69,973
Financial Instruments, Owned, Corporate Debt, at Fair Value				478
Investments in loans, corporate bonds and other products				2,588,338
Assets, Fair Value Disclosure				2,596,909
Long-term Debt, at Fair Value	[3]			12,049,034
Financial and Nonfinancial Liabilities, Fair Value Disclosure				$ 12,049,034
[1]	Pursuant to the adoption of ASU 2015-07, disclosure of assets measured at NAV as a practical expedient in the fair value hierarchy is no longer required.
[2]	As of both March 31, 2016 and December 31, 2015, the total aggregate unpaid principal balance of loans was $1.4 billion .See Note 9 for total contractual principal amounts.
[3]	As of December 31, 2015 and 2014, the total aggregate unpaid principal balance of loans was $1.4 billion and $12.0 billion, respectively. See Note 11 for total contractual principal amounts. As of December 31, 2015, Long-term debt of the Consolidated VIEs was no longer measured using a third-party pricing service due to the adoption of ASU 2014-13 (Note 3).

FAIR VALUE (Details 2 - Asse106

FAIR VALUE (Details 2 - Assets Rollforward) - Level 3 - Recurring basis - USD ($) $ in Thousands		3 Months Ended				12 Months Ended
		Mar. 31, 2016		Mar. 31, 2015		Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value				$ 967				$ 967
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3				0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[1]			0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]			0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales				0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[1]			0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)				0
Loans | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		$ 292,559		44,983		$ 281,868		2,517,887
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]	95,421		2,327
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]	(84,551)		(8,477)	[1]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[1]	(933)		497
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]	24,480		26,643
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[1]	(9,899)		(11,336)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[1]	(13,827)		(5,933)
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)		(1,967)		82
Structured Products and Other Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		43,812		32,863		37,517		7,604
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]	0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[1]	(1,307)		(197)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]	15,721		7,138
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales		(8,000)	[1]	(5,296)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[1]	(119)		0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)		(213)		3
Structured Products and Other Investments [Member] | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		1,118		4,677		1,156		69,973
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]	0		0	[1]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[1]	(38)		(101)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]	0		2,188
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[1]	0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[1]	0		0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)		(38)		(101)
Corporate Bonds | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value				0				478
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[1]			0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]			0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[1]			0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[1]			0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)				0
Investment and Derivative Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		43,812		33,830		37,517		8,571
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]	0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[1]	(1,307)		(197)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]	15,721		7,138
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales		(8,000)	[1]	(5,296)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[1]	(119)		0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)		(213)		3
Investment and Derivative Assets | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value		293,677		49,660		283,024		2,588,338
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]	95,421		2,327
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]	(84,551)		(8,477)	[1]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[1]	(971)		396
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[1]	24,480		28,831
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[1]	(9,899)		(11,336)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[1]	(13,827)		(5,933)
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)		$ (2,005)		$ (19)
CIFC LLC | Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						0		967		$ 510
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level 3 Due to Consolidation or Acquisition						0		1,008
Transfers out due to consolidation or acquisition						0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers out of Level 3 Due to Deconsolidation	[3],[4]					0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Between Classes						0		(498)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					33		(53)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					990		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					1,990
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					0		0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						0		(23)
CIFC LLC | Loans | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						281,868		2,517,887		1,706,290
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					51,012		355,793
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]					69,435		296,059	[4]
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level 3 Due to Consolidation or Acquisition						143,856		32,523
Transfers out due to consolidation or acquisition						0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers out of Level 3 Due to Deconsolidation	[3],[4]					(2,476,625)
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Between Classes						0		498
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(16,747)		(55,695)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					246,256		1,884,265
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					95,305		412,444
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					19,031		697,284
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						(4,875)		(46,579)
CIFC LLC | Structured Products and Other Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						37,517		7,604		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					0		0
Transfers out due to consolidation or acquisition						(12,546)
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers out of Level 3 Due to Deconsolidation	[3],[4]					23,614
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Between Classes						(2,613)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(6,828)		(311)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					63,060		7,915
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					28,715
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					6,059		0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						(5,689)		(311)
CIFC LLC | Structured Products and Other Investments [Member] | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						1,156		69,973		93,516
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]					1,803		0	[4]
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level 3 Due to Consolidation or Acquisition						0		5,321
Transfers out due to consolidation or acquisition						0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers out of Level 3 Due to Deconsolidation	[3],[4]					(67,383)
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Between Classes						2,613
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(143)		9,136
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					1,129		1,910
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					3,230		19,022
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					0		20,888
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						(163)		679
CIFC LLC | Investment in Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value								8,571		510
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]							0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level 3 Due to Consolidation or Acquisition								1,008
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Between Classes								(498)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]							(364)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]							7,915
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]							0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)								(334)
CIFC LLC | Corporate Bonds | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						0		478		16,220
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level 3 Due to Consolidation or Acquisition						0		0
Transfers out due to consolidation or acquisition						0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers out of Level 3 Due to Deconsolidation	[3],[4]					(478)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					0		350
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]							0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					0		16,092
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]							0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						0		(28)
CIFC LLC | Investment and Derivative Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						37,517		8,571
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level 3 Due to Consolidation or Acquisition						0
Transfers out due to consolidation or acquisition						(12,546)
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers out of Level 3 Due to Deconsolidation	[3],[4]					23,614
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Between Classes						(2,613)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(6,795)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					64,050
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					30,705
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					6,059
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						(5,689)
CIFC LLC | Investment and Derivative Assets | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						283,024		2,588,338		1,816,026
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					51,012		355,793
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]					71,238		296,059	[4]
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level 3 Due to Consolidation or Acquisition						143,856		37,844
Transfers out due to consolidation or acquisition						0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers out of Level 3 Due to Deconsolidation	[3],[4]					(2,544,486)
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Between Classes						2,613		498
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(16,890)		(46,209)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					247,385		1,886,175
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					98,535		447,558
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					19,031		718,172
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						(5,038)		(45,928)
CIFC Corp | Loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						0		967		510
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level 3 Due to Consolidation or Acquisition						0		1,008
Transfers out due to consolidation or acquisition						0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers out of Level 3 Due to Deconsolidation	[3],[4]					0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Between Classes						0		(498)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					33		(53)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					990		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					1,990
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					0		0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						0		(23)
CIFC Corp | Loans | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						0		2,517,887		1,706,290
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					51,012		355,793
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]					69,435		296,059	[4]
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level 3 Due to Consolidation or Acquisition						143,856		32,523
Transfers out due to consolidation or acquisition						0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers out of Level 3 Due to Deconsolidation	[3],[4]					(2,476,625)
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Between Classes						0		498
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(16,747)		(55,695)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					246,256		1,884,265
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					95,305		412,444
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					19,031		697,284
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						0		(46,579)
CIFC Corp | Investments in Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value								0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3								0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level 3 Due to Consolidation or Acquisition								0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings								0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases								0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements								0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)								0
CIFC Corp | Structured Products and Other Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						739		7,604		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					0		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3						0
Transfers out due to consolidation or acquisition						(12,546)
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers out of Level 3 Due to Deconsolidation	[3],[4]					23,614
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Between Classes						(2,613)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(6,828)		(311)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					63,060		7,915
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					28,715
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					6,059		0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						(78)		(311)
CIFC Corp | Structured Products and Other Investments [Member] | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						0		69,973		93,516
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]					1,803		0	[4]
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level 3 Due to Consolidation or Acquisition						0		5,321
Transfers out due to consolidation or acquisition						0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers out of Level 3 Due to Deconsolidation	[3],[4]					(67,383)
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Between Classes						2,613
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(143)		9,136
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					1,129		1,910
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					3,230		19,022
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					0		20,888
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						0		679
CIFC Corp | Investment in Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value								8,571		510
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]							0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level 3 Due to Consolidation or Acquisition								1,008
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Between Classes								(498)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]							(364)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]							7,915
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]							0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)								(334)
CIFC Corp | Corporate Bonds | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						0		478		16,220
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level 3 Due to Consolidation or Acquisition						0		0
Transfers out due to consolidation or acquisition						0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers out of Level 3 Due to Deconsolidation	[3],[4]					(478)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					0		350
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]							0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					0		16,092
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]							0
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						0		(28)
CIFC Corp | Investment and Derivative Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						739		8,571
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3						0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level 3 Due to Consolidation or Acquisition						0
Transfers out due to consolidation or acquisition						(12,546)
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers out of Level 3 Due to Deconsolidation	[3],[4]					23,614
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Between Classes						(2,613)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(6,795)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					64,050
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					30,705
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					6,059
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						(78)
CIFC Corp | Investment and Derivative Assets | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value						0		2,588,338		$ 1,816,026
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	[2]					51,012		355,793
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	[3]					71,238		296,059	[4]
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level 3 Due to Consolidation or Acquisition						143,856		37,844
Transfers out due to consolidation or acquisition						0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers out of Level 3 Due to Deconsolidation						(2,544,486)	[3],[4]	0
Fair Value Measurement with Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Between Classes						2,613		498
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	[4]					(16,890)		(46,209)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	[4]					247,385		1,886,175
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales	[4]					98,535		447,558
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	[4]					19,031		718,172
Fair Value, Assets Measured on Recurring Basis, Change in Unrealized Gain (Loss)						0		$ (45,928)
Reorganization transaction [Member] | CIFC Corp | Loans | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3						281,868
Reorganization transaction [Member] | CIFC Corp | Structured Products and Other Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3						36,778
Reorganization transaction [Member] | CIFC Corp | Structured Products and Other Investments [Member] | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3						1,156
Reorganization transaction [Member] | CIFC Corp | Investment and Derivative Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3						36,778
Reorganization transaction [Member] | CIFC Corp | Investment and Derivative Assets | Consolidated Entities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3						$ 283,024
[1]	The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out, net realized/unrealized gains (losses), purchases, sales and settlements for the three months ended March 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015.
[2]	Transfers in represent loans currently valued by a third-party pricing service using composite prices determined using less than two quotes, an internally developed pricing model or broker quotes and that were previously marked by a third-party pricing service using composite prices determined from two or more quotes.
[3]	Transfers out represent loans previously valued by an internally developed pricing model, broker quotes, or a third-party pricing service using composite prices determined using less than two quotes and are now being marked by a third-party pricing service using composite prices determined from two or more quotes.
[4]	The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out for the year ended December 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Net realized/unrealized gains (losses), purchases, sales and settlements for the twelve months ended December 31, 2015, also reflect the deconsolidation.

FAIR VALUE (Details 3 - Liab107

FAIR VALUE (Details 3 - Liabilities Rollforward) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Liability Rollforward
Estimated fair value, beginning of period		$ 8,338	$ 12,061,702	$ 12,061,702
Net realized/unrealized (gains) losses		364	713
Settlements	[1]	(560)	(1,558)
Estimated fair value, end of period		8,142	11,823	8,338	$ 12,061,702
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period		364	713
Contingent Liabilities at Fair Value
Liability Rollforward
Estimated fair value, beginning of period		8,338	12,668	12,668
Net realized/unrealized (gains) losses		364	713
Settlements	[1]	(560)	(1,558)
Estimated fair value, end of period		8,142	11,823	8,338	12,668
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period		364	713
Long-term Debt | Consolidated Entities
Liability Rollforward
Estimated fair value, beginning of period			12,049,034	12,049,034
Net realized/unrealized (gains) losses			0
Settlements	[1]		0
Estimated fair value, end of period			0		12,049,034
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period			0
CIFC LLC
Liability Rollforward
Estimated fair value, beginning of period		8,338	12,061,702	12,061,702	10,501,936
Sale of investments in Consolidated CLOs	[2]			0	20,601
Transfer in due to consolidation				0	101,694
Transfer due to deconsolidation or sale	[3],[4]			(12,049,034)	0
Net realized/unrealized (gains) losses	[4]			2,210	11,927
Purchases	[4]			0	70,567
Issuances	[4]			0	4,526,984
Settlements	[4],[5]			(6,540)	(3,172,007)
Estimated fair value, end of period				8,338	12,061,702
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period				2,210	232,943
CIFC LLC | Contingent Liabilities at Fair Value
Liability Rollforward
Estimated fair value, beginning of period		8,338	12,668	12,668	16,961
Sale of investments in Consolidated CLOs	[2]			0	0
Net realized/unrealized (gains) losses	[4]			2,210	2,932
Settlements	[4],[5]			(6,540)	(7,225)
Estimated fair value, end of period				8,338	12,668
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period				2,210	2,932
CIFC LLC | Long-term Debt | Consolidated Entities
Liability Rollforward
Estimated fair value, beginning of period		0	12,049,034	12,049,034	10,484,975
Sale of investments in Consolidated CLOs	[2]			0	20,601
Transfer in due to consolidation				0	101,694
Transfer due to deconsolidation or sale	[3],[4]			(12,049,034)	0
Net realized/unrealized (gains) losses	[4]			0	8,995
Purchases	[4]			0	70,567
Issuances	[4]			0	4,526,984
Settlements	[4],[5]			0	(3,164,782)
Estimated fair value, end of period				0	12,049,034
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period				0	230,011
CIFC Corp
Liability Rollforward
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Sales	[2]			0	20,601
Estimated fair value, beginning of period		8,338	12,061,702	12,061,702	10,501,936
Transfer in due to consolidation				0	101,694
Transfer due to deconsolidation or sale	[3],[4]			(12,049,034)	0
Net realized/unrealized (gains) losses	[4]			2,210	11,927
Purchases	[4]			0	70,567
Issuances	[4]			0	4,526,984
Settlements	[4],[5]			(6,540)	(3,172,007)
Estimated fair value, end of period				8,338	12,061,702
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period				2,210	232,943
CIFC Corp | Contingent Liabilities at Fair Value
Liability Rollforward
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Sales	[2]			0	0
Estimated fair value, beginning of period		8,338	12,668	12,668	16,961
Net realized/unrealized (gains) losses	[4]			2,210	2,932
Settlements	[4],[5]			(6,540)	(7,225)
Estimated fair value, end of period				8,338	12,668
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period				2,210	2,932
CIFC Corp | Long-term Debt | Consolidated Entities
Liability Rollforward
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Sales	[2]			0	20,601
Estimated fair value, beginning of period		$ 0	$ 12,049,034	12,049,034	10,484,975
Transfer in due to consolidation				0	101,694
Transfer due to deconsolidation or sale	[3],[4]			(12,049,034)	0
Net realized/unrealized (gains) losses	[4]			0	8,995
Purchases	[4]			0	70,567
Issuances	[4]			0	4,526,984
Settlements	[4],[5]			0	(3,164,782)
Estimated fair value, end of period				0	12,049,034
Change in unrealized gains (losses) for the period for the liabilities outstanding as of the end of the period				$ 0	$ 230,011
[1]	For Contingent Liabilities, amount represents payments made and due related to the contingent liabilities from the merger with Legacy CIFC (Note 8)
[2]	Represents the Company's sales of its residual interests in the Consolidated CLOs. The sale removes the requirement to consolidate the CLOs, therefore, debt and/or subordinated notes of the CLOs are no longer eliminated in consolidation.
[3]	Pursuant to the adoption of ASU 2014-13, the Long-term Debt of Consolidated Entities have been remeasured in accordance with the new guidance. (See Note 3 for details).
[4]	The adoption of ASU 2015-02 was applied on a modified retrospective basis. Transfers out for the year ended December 31, 2015 reflect the deconsolidation of CLOs as of January 1, 2015. Net realized/unrealized gains (losses), purchases, sales and settlements for the twelve months ended December 31, 2015, also reflect the deconsolidation.
[5]	For Contingent Liabilities, amount represents payments made and due related to the contingent liabilities from the merger with Legacy CIFC (Note 10).

FAIR VALUE (Details 4 - Narr108

FAIR VALUE (Details 4 - Narrative)	3 Months Ended	12 Months Ended
	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jan. 01, 2015	Dec. 31, 2014
Narrative FN 5
Fair Value, Description of Composite quotes	2	2
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Redemption Restriction, Description	30	30
Number of CLOs Deconsolidated			30
Number of CLOs consolidated	2	2	1	31
Number of Credit Funds Consolidated	2	2
Debt Instrument, Description of Variable Rate Basis	LIBOR	LIBOR
Maximum [Member]
Narrative FN 5
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	5 years	5 years
Minimum [Member]
Narrative FN 5
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Liquidating Investment, Remaining Period	2 years	2 years

FAIR VALUE (Details 5 - Quan109

FAIR VALUE (Details 5 - Quantitative Information) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
		Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities		$ 8,142	$ 8,338
Debt Instrument, Description of Variable Rate Basis		LIBOR	LIBOR
Recurring basis
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities		$ 8,142	$ 8,338
Recurring basis | Level 3
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities		$ 8,142	$ 8,338
Projected Cash Flow Approach Valuation Technique [Member] | Recurring basis | Contingent Liabilities at Fair Value | Level 3
Quantitative Information about Level 3 Assets & Liabilities
Default rate (as a percent)	[1]	2.00%	2.00%	2.00%
Recovery rate (as a percent)	[1]	70.00%	70.00%	70.00%
Reinvestment price			100.00%	100.00%
Projected Cash Flow Approach Valuation Technique [Member] | Recurring basis | Contingent Liabilities at Fair Value | Level 3 | Minimum
Quantitative Information about Level 3 Assets & Liabilities
Discount rate (as a percent)	[2]	8.10%	6.70%	1.20%
Pre-payment rate (as a percent)	[1]		35.00%	35.00%
Reinvestment spread over LIBOR (as a percent)		3.30%	3.00%	3.00%
Projected Cash Flow Approach Valuation Technique [Member] | Recurring basis | Contingent Liabilities at Fair Value | Level 3 | Maximum [Member]
Quantitative Information about Level 3 Assets & Liabilities
Discount rate (as a percent)	[2]	13.00%	12.00%	12.50%
Reinvestment spread over LIBOR (as a percent)		4.00%	3.80%	3.80%
Projected Cash Flow Approach Valuation Technique [Member] | Recurring basis | Contingent liabilities and the long-term debt of the Consolidated CLOs | Level 3
Quantitative Information about Level 3 Assets & Liabilities
Pre-payment rate (as a percent)	[1]	25.00%	40.00%	40.00%
CIFC LLC
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities			$ 8,338	$ 12,668
CIFC LLC | Recurring basis
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities			8,338	12,668
CIFC LLC | Recurring basis | Level 3
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities			8,338	12,668
CIFC Corp
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities			8,338	12,668
CIFC Corp | Recurring basis
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities			8,338
CIFC Corp | Recurring basis | Level 3
Quantitative Information about Level 3 Assets & Liabilities
Contingent Liabilities			$ 8,338	$ 12,668
[1]	Generally an increase in the default rate would be accompanied by a directionally opposite change in assumption for the recovery and pre-payment rates.
[2]	The discount rate varies by type of management fee (senior management fee, subordinated management fee, or incentive fee), the priority of that management fee in the waterfall of the CLO and the relative risk associated with the respective management fee cash flow projections. Amounts are presented as a spread over LIBOR.

FAIR VALUE (Details 6 - Fair110

FAIR VALUE (Details 6 - Fair Value Option) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2016		Dec. 31, 2015		Dec. 31, 2014	[2],[3]
Long-term debt:
Long-term debt		$ 156,237		$ 156,161
Debt Instrument, Description of Variable Rate Basis		LIBOR		LIBOR
Subordinated Debt Obligations | Carrying Value
Long-term debt:
Junior Subordinated Notes		$ 118,282	[1]	$ 118,259	[1],[2],[3]	$ 118,170
Subordinated Debt Obligations | Estimated Fair Value
Long-term debt:
Junior Subordinated Notes		52,549	[1]	57,371	[1],[2],[3]	$ 57,314
Senior Notes [Member]
Long-term debt:
Long-term debt	[4]	37,955		37,902	[2],[5],[6]
Long-term Debt, Gross	[6]	40,000		40,000	[7]
Senior Notes [Member] | Estimated Fair Value
Long-term debt:
Senior Notes	[4]	$ 40,000		$ 40,000	[2],[5]
[1]	The Junior Subordinated Notes include both the March and October Junior Subordinated Notes (Note 9). The estimated fair values of the Junior Subordinated Notes were determined using a discounted cash flow model which utilizes significant unobservable inputs, including discount rates, yield and forward LIBOR curve assumptions. This methodology is classified as Level 3 within the fair value hierarchy.
[2]	Pursuant to the adoption of ASU 2015-03 the carrying value has been adjusted to reflect the presentation of debt issuance costs as a direct deduction from the related liability for all periods presented in accordance with amended guidance on simplifying the presentation of such costs.
[3]	The Junior Subordinated Notes include both the March and October Junior Subordinated Notes (Note 11). The estimated fair values of the Junior Subordinated Notes were determined using a discounted cash flow model which utilizes significant unobservable inputs, including discount rates, yield and forward LIBOR curve assumptions. This methodology is classified as Level 3 within the fair value hierarchy.
[4]	On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which are publicly registered and fair valued using the issuance price.
[5]	On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which is carried at its outstanding principal balance net of debt issuance costs (Note 11). The estimated fair value of the Senior Notes approximates issuance price from November 2, 2015.
[6]	The Senior Notes bear interest at 8.5% and mature on October 30, 2025. As of January 1, 2016, the Company temporarily did not meet certain registration requirements under the indenture (and associated agreements) and incurred additional interest of 25 basis points per annum for the period ended March 31, 2016. Each 90 days thereafter interest will increase by 25 basis points (capped at 1% per annum) until cured. The Company has cured these conditions and expects the additional interest to end in July 2016.
[7]	The Senior Notes bear interest at 8.5% and mature on October 30, 2025

NET RESULTS OF CONSOLIDATED 111

NET RESULTS OF CONSOLIDATED ENTITIES (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jan. 01, 2015
Consolidated Variable Interest Entities
Number of CLOs Deconsolidated					30
Interest income from investments	$ 933	$ 2,607
Net gain (loss) on investments	271	1,193
Net gain (loss) on liabilities	(364)	(713)
Operating Expenses	29,076	19,663
Interest expense	1,957	494
Consolidated Entities
Consolidated Variable Interest Entities
Investment income	18,990	2,756
Net gain (loss) on investments	2,600	2,797
Net gain (loss) on liabilities	(7,384)	(2,260)
Net Gain (Loss) on other investments and derivatives	0	438
Operating Expenses	388	1,268
Interest expense	$ 8,420	$ 744
CIFC Corp
Consolidated Variable Interest Entities
Interest income from investments			$ 5,333	$ 790
Net gain (loss) on investments			(4,181)	2,474
Net gain (loss) on liabilities			(2,210)	(2,932)
Operating Expenses			91,475	277,104
Interest expense			3,808	4,236
CIFC Corp | Consolidated Entities
Consolidated Variable Interest Entities
Investment income			25,106	517,252
Interest income from investments			15,202	345,321
Net gain (loss) on investments			(26,114)	(228,777)
Net gain (loss) on liabilities			24,746	(8,996)
Net Gain (Loss) on other investments and derivatives			2,970	2,031
Net gain (loss) from activities of Consolidated Entities			16,804	109,579
Operating Expenses			10,774	40,074
Interest expense			9,904	171,931
Net results of Consolidated Entities			6,030	69,505
CIFC LLC
Consolidated Variable Interest Entities
Interest income from investments			5,333	790
Net gain (loss) on investments			(4,181)	2,474
Net gain (loss) on liabilities			(2,210)	(2,932)
Operating Expenses			91,525	277,104
Interest expense			3,808	4,236
CIFC LLC | Consolidated Entities
Consolidated Variable Interest Entities
Investment income			25,106	517,252
Interest income from investments			15,202	345,321
Net gain (loss) on investments			(26,114)	(228,777)
Net gain (loss) on liabilities			24,746	(8,996)
Net Gain (Loss) on other investments and derivatives			2,970	2,031
Net gain (loss) from activities of Consolidated Entities			16,804	109,579
Operating Expenses			10,774	40,074
Interest expense			9,904	171,931
Net results of Consolidated Entities			$ 6,030	$ 69,505

DERIVATIVE INSTRUMENTS AND H112

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Debt Instrument, Description of Variable Rate Basis	LIBOR	LIBOR
Net income/expense related to derivative instruments	$ (0.3)	$ 3.6	$ 2

EQUIPMENT AND IMPROVEMENTS (Det

EQUIPMENT AND IMPROVEMENTS (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2016
Property, Plant and Equipment [Line Items]
Depreciation		$ 1,400	$ 1,300
Property, Plant and Equipment, Gross		8,727	7,668
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	[1]	(3,861)	(2,474)
Equipment and improvements, net		4,866	5,194	$ 4,562
Property, Plant and Equipment, Additions		1,100	2,200
Computer and Equipment Software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross		$ 5,513	4,541
Computer and Equipment Software [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life		3 years
Computer and Equipment Software [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life		5 years
Leaseholds and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross		$ 2,468	2,455
Property, Plant and Equipment, Useful Life		11 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross		$ 746	$ 672
Property, Plant and Equipment, Useful Life		7 years
[1]	Depreciation expense related to equipment and improvements totaled $1.4 million and $1.3 million for the years ended December 31, 2015 and 2014, respectively.

INTANGIBLE ASSETS AND GOODWI114

INTANGIBLE ASSETS AND GOODWILL (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2016		Mar. 31, 2015	Dec. 31, 2015		Dec. 31, 2014
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 46,749	[1]		$ 77,708	[1],[2]	$ 79,536	[2]
Accumulated Amortization	41,356	[3]		70,851	[3],[4]	64,462	[4]
Intangible assets, net	5,393			6,857		15,074
Amortization of intangible assets	900		$ 2,100	6,400		$ 10,100
Expected amortization expense of the existing intangible assets
Less than one year	1,651			2,860
In two years	1,726			1,929
In three years	1,449			1,501
In four years	411			411
In five years	125			125
Thereafter	31			31
Expected amortization expense	5,393			6,857
Impairment of intangible assets	531		$ 281	1,800
Goodwill	$ 76,000			$ 76,000
Investment management contracts
Intangible assets
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	2 years 1 month			2 years 5 months		3 years 2 months
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 40,405	[1]		$ 71,113	[1],[2]	$ 72,941	[2]
Accumulated Amortization	37,527	[3]		67,040	[3],[4]	61,723	[4]
Intangible assets, net	$ 2,878			$ 4,073		$ 11,218
Referral Agreement
Intangible assets
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years 6 months			3 years 9 months		4 years 9 months
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 3,810	[1]		$ 3,810	[1],[2]	$ 3,810	[2]
Accumulated Amortization	2,286	[3]		2,096	[3],[4]	1,334	[4]
Intangible assets, net	$ 1,524			$ 1,714		$ 2,476
Non-compete agreements
Intangible assets
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	2 years			2 years 2 months		3 years 2 months
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 1,284	[1]		$ 1,535	[1],[2]	$ 1,535	[2]
Accumulated Amortization	917	[3]		1,122	[3],[4]	936	[4]
Intangible assets, net	$ 367			$ 413		$ 599
Trade name
Intangible assets
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years			5 years 2 months		6 years 4 months
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 1,250	[1]		$ 1,250	[1],[2]	$ 1,250	[2]
Accumulated Amortization	626	[3]		593	[3],[4]	469	[4]
Intangible assets, net	$ 624			$ 657		$ 781
[1]	Gross carrying amounts as of March 31, 2016 have been reduced to reflect fully impaired and amortized assets
[2]	Gross carrying amounts have been adjusted for impaired assets as of the date presented.
[3]	During the three months ended March 31, 2016 and 2015, the Company recorded amortization expense on its intangible assets of $0.9 million and $2.1 million, respectively.
[4]	During the years ended December 31, 2015 and 2014, the Company recorded amortization expense on its intangible assets of $6.4 million and $10.1 million, respectively.

CONTINGENT LIABILITIES AND D115

CONTINGENT LIABILITIES AND DEFERRED PURCHASE PAYMENTS (Details) - USD ($)	Jul. 31, 2013	Apr. 13, 2011	Apr. 30, 2011	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2010	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014
Contingent liabilities at fair value
Payments on contingent liabilities				$ 999,000	$ 1,559,000
CIFC Parent Holdings LLC [Member]
Contingent liabilities at fair value
Business Acquisition Cost of Acquired Entity Cash Payable				0				$ 0
Contingent Liabilities at Fair Value								0
Number of Legacy CIFC CLOs subject to fee-sharing arrangements		six
Business Acquisition Cost of Acquired Entity Initial Incentive Fees		$ 15,000,000
Business Acquisition, Cost of Acquired Entity Percentage of Fees in Excess of Initial Incentive Fees		50.00%	50.00%
Business Acquisition Cost of Acquired Entity Final Contingent Consideration Payment Date		10 years	10 years
Payments On Contingent Liabilities - 100% fee sharing				999,000	1,000,000			2,500,000	$ 6,600,000
Payments on Contingent Liabilities - 50% fee sharing				16,600,000				15,600,000
DFR Holdings LLC
Contingent liabilities at fair value
Business Acquisition Cost of Acquired Entity Cash Payable						$ 7,500,000		0	1,500,000
Installments of Deferred Purchase Payments						5 years
Cypress Tree Investment Management LLC
Contingent liabilities at fair value
Business Acquisition Cost of Acquired Entity Cash Payable				0				0
Business Acquisition Contingent Consideration Minimum Percentage of Investment Advisory Fees	39.00%						39.00%
Payments on contingent liabilities				$ 0	$ 559,000			$ 1,100,000	$ 600,000

LONG-TERM DEBT (Details 2 - 116

LONG-TERM DEBT (Details 2 - Narrative)		Oct. 30, 2023	Oct. 30, 2022	Oct. 30, 2021	Oct. 30, 2020	Nov. 02, 2015	Mar. 31, 2016USD ($)		Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)		Dec. 31, 2014USD ($)		Jan. 01, 2015
Debt Instrument [Line Items]
Number of CLOs Deconsolidated														30
Number of CLOs consolidated							2			2		31		1
Number of Credit Funds Consolidated							2			2
Consolidated CLOs and Other [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross							$ 1,360,725,000	[1]		$ 1,385,226,000	[1],[2]	$ 12,760,565,000	[2]
Proceeds from Issuance of Debt							0		$ 0	484,200,000		3,300,000,000
Repayments of Long-term Debt							0		16,100,000	152,500,000		1,600,000,000
Variable Interest Entity, Consolidated, Carrying Amount, Assets							1,200,000,000			1,200,000,000		12,557,293,000
Warehouses
Debt Instrument [Line Items]
Long-term Debt, Gross	[3]									0		51,000,000
March Junior Subordinated Debt [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	[4]						95,000,000	[5]		$ 95,000,000		95,000,000
March Junior Subordinated Debt [Member] | Through April 30, 2015
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period										1.00%
Subordinated notes of Consolidated CLOs | Consolidated CLOs and Other [Member]
Debt Instrument [Line Items]
Repayments of Long-term Debt							4,900,000		700,000	$ 18,300,000		230,000,000
Revolving credit facility | Consolidated CLOs and Other [Member]
Debt Instrument [Line Items]
Proceeds from Issuance of Debt							0		$ 33,100,000	153,600,000		19,600,000
October Junior Subordinated Debt [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	[6]						25,000,000			25,000,000		25,000,000
Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	[7]						$ 40,000,000			$ 40,000,000	[8]
Debt Instrument, Interest Rate During Period							8.50%			8.50%
Debt Instrument, Redemption Price, Percentage		100.00%	101.417%	102.834%	104.25%	101.00%
Debt Issuance Cost										$ 2,100,000
Interest Expense, Debt										540,000
Subordinated and Senior [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross							$ 160,000,000			$ 160,000,000		$ 120,000,000
[1]	The subordinated notes of the Consolidated CLOs do not have a stated interest rate and have been excluded from the calculation of the weighted average borrowing rate. As of March 31, 2016 and December 31, 2015, long-term debt of the Consolidated CLOs and Other includes $151.7 million and $153.1 million of credit fund debt, respectively.
[2]	Pursuant to the adoption of ASU 2014-13, Long-term debt of the Consolidated CLOs has been remeasured in accordance with the new guidance (Notes 3 and 5). The subordinated notes of the Consolidated CLOs do not have a stated interest rate and have been excluded from the calculation of the weighted average borrowing rate. As of December 31, 2015, long-term debt of the Consolidated CLOs includes $153.1 million of credit funds.
[3]	Long-term debt of warehouses not held by the Company is recorded at fair value. The fair value excludes the preferred shares of warehouses not held by the Company. As warehouses are generally terminated before the end of their terms, they are excluded from the calculation of the weighted average remaining maturity.
[4]	March Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 2.58% until maturity on October 30, 2035. Prior to April 30, 2015, these notes bore interest at an annual rate of 1%.
[5]	Pursuant to the adoption of ASU 2015-03, the carrying values of recourse debt has been presented net of debt issuance costs
[6]	October Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 3.50% and mature on October 30, 2035.
[7]	The Senior Notes bear interest at 8.5% and mature on October 30, 2025. As of January 1, 2016, the Company temporarily did not meet certain registration requirements under the indenture (and associated agreements) and incurred additional interest of 25 basis points per annum for the period ended March 31, 2016. Each 90 days thereafter interest will increase by 25 basis points (capped at 1% per annum) until cured. The Company has cured these conditions and expects the additional interest to end in July 2016.
[8]	The Senior Notes bear interest at 8.5% and mature on October 30, 2025

LONG-TERM DEBT (Details)117

LONG-TERM DEBT (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Debt Instrument [Line Items]
Long-term debt		$ 156,237		$ 156,161
Debt Instrument, Description of Variable Rate Basis		LIBOR		LIBOR
Other VIEs [Member]
Debt Instrument [Line Items]
Long-term debt		$ 151,700		$ 153,100
Consolidated CLOs and Other [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		1,360,725	[1]	1,385,226	[1],[2]	$ 12,760,565	[2]
Long-term debt		$ 1,312,058	[1]	$ 1,308,558	[1],[2]	$ 11,998,034	[2]
Long-term Debt, Weighted Average Interest Rate		0.03%	[1]	0.02%	[1],[2]	1.77%	[2]
Debt instruments - Weighted Average, Remaining Maturity		9 years	[1]	9 years 1 month	[1],[2]	8 years 8 months	[2]
Warehouses
Debt Instrument [Line Items]
Long-term Debt, Gross	[3]			$ 0		$ 51,000
Long-term debt	[3]			$ 0		$ 51,000
Long-term Debt, Weighted Average Interest Rate	[3]			0.00%		1.89%
Consolidated Entities
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 1,360,725		$ 1,385,226
Long-term debt		$ 1,312,058		$ 1,308,558
Long-term Debt, Weighted Average Interest Rate		0.03%		0.02%
Debt instruments - Weighted Average, Remaining Maturity		9 years		9 years 1 month
March Junior Subordinated Debt [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	[4]	$ 95,000	[5]	$ 95,000		$ 95,000
Long-term debt	[4],[5]	$ 93,476		$ 93,456		$ 93,377
Long-term Debt, Weighted Average Interest Rate	[4]	3.20%	[5]	2.90%		1.00%
Debt instruments - Weighted Average, Remaining Maturity	[4]	19 years 7 months	[5]	19 years 10 months		20 years 10 months
March Junior Subordinated Debt [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis		LIBOR
Debt Instrument, Basis Spread on Variable Rate		2.58%
March Junior Subordinated Debt [Member] | From April 30, 2015 until maturity on October 30, 2035 | LIBOR [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis				LIBOR
Debt Instrument, Basis Spread on Variable Rate				2.58%
March Junior Subordinated Debt [Member] | Through April 30, 2015
Debt Instrument [Line Items]
Debt Instrument, Interest Rate During Period				1.00%
October Junior Subordinated Debt [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	[6]	$ 25,000		$ 25,000		$ 25,000
Long-term debt	[6]	$ 24,806		$ 24,803	[5]	$ 24,793	[5]
Long-term Debt, Weighted Average Interest Rate	[6]	4.12%		3.82%		3.73%
Debt instruments - Weighted Average, Remaining Maturity	[6]	19 years 7 months		19 years 10 months		20 years 10 months
October Junior Subordinated Debt [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis		LIBOR		LIBOR
Debt Instrument, Basis Spread on Variable Rate		3.50%		3.50%
Senior Notes [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	[7]	$ 40,000		$ 40,000	[8]
Long-term debt	[9]	$ 37,955		$ 37,902	[7],[10],[11]
Long-term Debt, Weighted Average Interest Rate	[7]	8.50%		8.50%	[8]
Debt instruments - Weighted Average, Remaining Maturity	[7]	9 years 7 months		9 years 10 months	[8]
Debt Instrument, Interest Rate During Period		8.50%		8.50%
Subordinated and Senior [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 160,000		$ 160,000		$ 120,000
Long-term debt		$ 156,237		$ 156,161	[5]	$ 118,170	[5]
Long-term Debt, Weighted Average Interest Rate		4.67%		4.44%		1.57%
Debt instruments - Weighted Average, Remaining Maturity		17 years 1 month		17 years 3 months		20 years 10 months
CIFC Corp
Debt Instrument [Line Items]
Long-term debt				$ 156,161		$ 118,170
CIFC Corp | Consolidated Entities
Debt Instrument [Line Items]
Long-term Debt, Gross				0		12,811,565
Long-term debt	[12]			$ 0		$ 12,049,034
Long-term Debt, Weighted Average Interest Rate				0.00%		1.77%
Debt instruments - Weighted Average, Remaining Maturity				0 years		8 years 8 months
CIFC LLC
Debt Instrument [Line Items]
Long-term debt				$ 156,161		$ 118,170
CIFC LLC | Consolidated Entities
Debt Instrument [Line Items]
Long-term Debt, Gross				1,385,226		12,811,565
Long-term debt				$ 1,308,558		$ 12,049,034
Long-term Debt, Weighted Average Interest Rate				0.02%		1.77%
Debt instruments - Weighted Average, Remaining Maturity				9 years 1 month		8 years 8 months
[1]	The subordinated notes of the Consolidated CLOs do not have a stated interest rate and have been excluded from the calculation of the weighted average borrowing rate. As of March 31, 2016 and December 31, 2015, long-term debt of the Consolidated CLOs and Other includes $151.7 million and $153.1 million of credit fund debt, respectively.
[2]	Pursuant to the adoption of ASU 2014-13, Long-term debt of the Consolidated CLOs has been remeasured in accordance with the new guidance (Notes 3 and 5). The subordinated notes of the Consolidated CLOs do not have a stated interest rate and have been excluded from the calculation of the weighted average borrowing rate. As of December 31, 2015, long-term debt of the Consolidated CLOs includes $153.1 million of credit funds.
[3]	Long-term debt of warehouses not held by the Company is recorded at fair value. The fair value excludes the preferred shares of warehouses not held by the Company. As warehouses are generally terminated before the end of their terms, they are excluded from the calculation of the weighted average remaining maturity.
[4]	March Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 2.58% until maturity on October 30, 2035. Prior to April 30, 2015, these notes bore interest at an annual rate of 1%.
[5]	Pursuant to the adoption of ASU 2015-03, the carrying values of recourse debt has been presented net of debt issuance costs
[6]	October Junior Subordinated Notes bear interest at an annual rate of three month LIBOR plus 3.50% and mature on October 30, 2035.
[7]	The Senior Notes bear interest at 8.5% and mature on October 30, 2025. As of January 1, 2016, the Company temporarily did not meet certain registration requirements under the indenture (and associated agreements) and incurred additional interest of 25 basis points per annum for the period ended March 31, 2016. Each 90 days thereafter interest will increase by 25 basis points (capped at 1% per annum) until cured. The Company has cured these conditions and expects the additional interest to end in July 2016.
[8]	The Senior Notes bear interest at 8.5% and mature on October 30, 2025
[9]	On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which are publicly registered and fair valued using the issuance price.
[10]	On November 2, 2015, the Company issued $40.0 million par value of Senior Notes which is carried at its outstanding principal balance net of debt issuance costs (Note 11). The estimated fair value of the Senior Notes approximates issuance price from November 2, 2015.
[11]	Pursuant to the adoption of ASU 2015-03 the carrying value has been adjusted to reflect the presentation of debt issuance costs as a direct deduction from the related liability for all periods presented in accordance with amended guidance on simplifying the presentation of such costs.
[12]	The assets of the Consolidated Entities would not be available to the Company's general creditors, and as a result, the Company does not consider them its assets. Additionally, the investors in the debt and residual interests of the Consolidated Entities have no recourse to the Company's general assets. Therefore, this debt is not the Company's obligation.

EQUITY (Details 1 - Narrativ118

EQUITY (Details 1 - Narrative) $ / shares in Units, $ in Thousands	May. 09, 2016$ / shares	Mar. 21, 2016$ / shares	Jul. 12, 2014USD ($)shares	Jul. 12, 2014USD ($)shares	Mar. 31, 2016USD ($)$ / sharesshares	Mar. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)shares	Mar. 29, 2012USD ($)shares
Common Stock [Abstract]
Dividends declared, usd per share | $ / shares					$ 0.34	$ 0.10
Debt Instrument, Convertible, Number of Equity Instruments | shares			4,132,231	4,132,231
Treasury Stock [Abstract]
Repurchases of common shares					$ 435
Share-based Compensation [Abstract]
Number of shares authorized | shares									6,181,929
Number of shares available for grant | shares							296,540
Share-based compensation					2,381	$ 1,680
Subsequent Event
Common Stock [Abstract]
Dividends declared, usd per share | $ / shares	$ 0.25	$ 0.34
Quarterly | Subsequent Event
Common Stock [Abstract]
Dividends declared, usd per share | $ / shares	0.10	0.10
Special | Subsequent Event
Common Stock [Abstract]
Dividends declared, usd per share | $ / shares	$ 0.15	$ 0.24
Convertible Debt
Common Stock [Abstract]
Debt Instrument, face amount			$ 25,000	$ 25,000				$ 25,000
Treasury Stock
Treasury Stock [Abstract]
Remaining authorized repurchase amount					$ 3,800		$ 4,200		$ 10,000
Treasury Stock
Treasury Stock [Abstract]
Repurchases of common stock, shares | shares					75,296	0	168,008	0
Repurchases of common shares					$ 435		$ 1,151
Treasury stock acquired, average cost per share | $ / shares					$ 5.75		$ 6.85
Treasury stock, shares retired | shares							298,452
Treasury stock retired							$ 2,065
Stock Options and Restricted Stock Units
Share-based Compensation [Abstract]
Share-based compensation							5,348	$ 2,600
Compensation not yet recognized, stock options and RSUs					$ 14,800		$ 10,000
Stock Options
Share-based Compensation [Abstract]
Weighted average vesting period					3 months 12 days		4 months 22 days
Restricted Stock Units (RSUs)
Share-based Compensation [Abstract]
Weighted average vesting period					2 years 9 months 15 days		2 years 8 months 15 days

EQUITY (Details 2 - Stock Op119

EQUITY (Details 2 - Stock Options) - Stock Options - USD ($)		3 Months Ended			12 Months Ended
		Mar. 31, 2016		Mar. 31, 2015	Dec. 31, 2015		Dec. 31, 2014
Number of Shares Underlying Share Options
Options outstanding		3,285,313		3,635,313	3,635,313
Exercised options Shares		(50,000)	[1]		(103,906)	[2]
Forfeited (shares)	[3]				(159,531)
Expired (shares)	[3]				(86,563)
Options outstanding		3,235,313			3,285,313		3,635,313
Exercisable (shares)		2,980,731			2,872,540
Vested and Expected to vest (shares)	[4]	3,219,855			3,263,392
Weighted Average Exercise Price
Outstanding at period end		$ 6.72			$ 6.69		$ 6.68
Exercised (usd per share)		4.83			5
Forfeited (usd per share)					7.25
Expired (usd per share)					7.09
Exercisable (usd per share)		6.56			6.50
Vested and Expected to vest (usd per share)		$ 6.71			$ 6.68
Additional Disclosures
Outstanding, Weighted Average Remaining Contractual Term		4 years 4 months 22 days			4 years 7 months 22 days		5 years 1 month 28 days
Exercisable, Weighted Average Remaining Contractual Term		4 years 1 month 16 days			4 years 2 months 17 days
Vested and Expected to Vest, Weighted Average Remaining Contractual Term		4 years 4 months 16 days			4 years 7 months 15 days
Outstanding, Aggregate Intrinsic Value		$ 788,000		$ 6,146,000	$ 6,146,000
Exercisable, Aggregate Intrinsic Value		2,658,000			744,000
Vested and Expected to vest, Aggregate Intrinsic Value		2,659,000			786,000
Outstanding, Aggregate Intrinsic Value		2,659,000			788,000		$ 6,146,000
Options, exercises in period, intrinsic value		$ 33,500		$ 78,500	$ 200,000		$ 300,000
[1]	During the three months ended March 31, 2016 and 2015, total intrinsic value of options exercised was $33.5 thousand and $78.5 thousand, respectively.
[2]	During the year ended December 31, 2015 and 2014, total intrinsic value of options exercised was $0.2 million and $0.3 million, respectively.
[3]	Forfeited and expired equity-based awards are returned to the grant pool for reissuance under the 2011 Stock Plan.
[4]	Includes a reduction to outstanding options at period end for expected forfeiture rate over the life of the options.

EQUITY (Details 3 - Stock Optio

EQUITY (Details 3 - Stock Option FV Assumptions) - Stock Options	12 Months Ended
	Dec. 31, 2014
Equity (Details 4)
Expected dividend yield	4.54%
Expected volatility	42.65%
Risk-free interest rate	1.96%
Expected life (years)	5 years 9 months 6 days
Expiration period	10 years
Award vesting period	4 years

EQUITY (Details 4 - RSU Narrati

EQUITY (Details 4 - RSU Narrative) $ / shares in Units, $ in Thousands	Oct. 02, 2014shares	Jun. 13, 2014shares	Mar. 31, 2016USD ($)shares		Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)shares	Dec. 31, 2013shares	Dec. 18, 2013$ / shares
EQUITY
Share-based compensation | $			$ 2,381		$ 1,680
Restricted Stock Units (RSUs)
EQUITY
Grants in period (shares)			1,093,015	[1],[2]		1,138,787	1,318,152
Performance-based Cliff Vest
EQUITY
Grants in period (shares)						720,000	180,000
Service Based 3 Year Vest [Member]
EQUITY
Grants in period (shares)						340,000	362,070
Service Based 3 Year Vest [Member] | Initial Vest [Member]
EQUITY
Award vesting period			3 years			3 years	3 years
Award vesting rights, percentage			33.00%			33.00%	33.00%
Service Based 3 Year Vest [Member] | Remaining Tranches [Member]
EQUITY
Award vesting period			2 years			2 years	2 years
Service Based 3 Year Vest [Member] | Director
EQUITY
Grants in period (shares)						65,868	76,082
Service Based 4 Year Vest [Member] | 2013 RSU Grants
EQUITY
Grants in period (shares)								15,000
Award vesting period								4 years
Award vesting rights, percentage								25.00%
Service Based 4 Year Vest [Member] | 2013 RSU Grants | Remaining Tranches [Member]
EQUITY
Award vesting period								3 years
Service Based 5 Year Vest [Member] | October 2014 RSUs [Member]
EQUITY
Grants in period (shares)	100,000
Number of tranches	5
Award vesting period	4 years
Award vesting rights, percentage	5.00%
Service Based 5 Year Vest [Member] | October 2014 RSUs [Member] | Share-based Compensation Award, Tranche One [Member]
EQUITY
Award vesting rights, percentage	20.00%
Service Based 5 Year Vest [Member] | October 2014 RSUs [Member] | Remaining Tranches [Member]
EQUITY
Grants in period (shares)	20,000
Service Based 5 Year Vest [Member] | June 2014 RSUs [Member] | Co-Presidents [Member]
EQUITY
Grants in period (shares)		600,000
Number of tranches		5
Plan modification, incremental compensation cost | $						$ 400
Service Based 5 Year Vest [Member] | June 2014 RSUs [Member] | Co-Presidents [Member] | Share-based Compensation Award, Tranche One [Member]
EQUITY
Award vesting rights, percentage		20.00%
Service Based 5 Year Vest [Member] | June 2014 RSUs [Member] | Co-Presidents [Member] | Share-based Compensation Award, Tranche Two [Member]
EQUITY
Award vesting rights, percentage		20.00%
Service Based 5 Year Vest [Member] | June 2014 RSUs [Member] | Co-Presidents [Member] | Share-based Compensation Award, Tranche Three [Member]
EQUITY
Award vesting rights, percentage		20.00%
Service Based 5 Year Vest [Member] | June 2014 RSUs [Member] | Co-Presidents [Member] | Share-based Compensation Award, Tranche Four [Member]
EQUITY
Award vesting rights, percentage		20.00%
Service Based 5 Year Vest [Member] | June 2014 RSUs [Member] | Co-Presidents [Member] | Share-based Compensation Award, Tranche Five [Member]
EQUITY
Award vesting rights, percentage		20.00%
Service Based 5 Year Vest [Member] | June 2014 RSUs [Member] | Co-Presidents [Member] | Remaining Tranches [Member]
EQUITY
Grants in period (shares)		120,000
Award vesting period		4 years
Award vesting rights, percentage		5.00%
CIFC Parent Holdings LLC [Member]
EQUITY
Share-based compensation | $						$ 202	$ 100
Warrant | DFR Holdings LLC
EQUITY
Class of warrant, outstanding			2,000,000			2,000,000	2,000,000	2,000,000
Class of warrant, exercise price of warrants or rights | $ / shares									$ 6.375
Proceeds from extension of warrants | $							$ 200
[1]	Shareholder approval is required to increase the number of shares available under the Company’s 2011 Stock and Incentive Plan to accommodate these new grants.
[2]	Weighted average grant date fair value excludes 360,000 of performance based RSUs for which performance hurdles will be determined in the future.

EQUITY (Details 5 - RSU Rollfor

EQUITY (Details 5 - RSU Rollforward) - $ / shares		3 Months Ended		12 Months Ended
		Mar. 31, 2016		Dec. 31, 2015		Dec. 31, 2014
Restricted Stock Units (RSUs)
RSUs
Restricted stock units outstanding, beginning of period (shares)		2,033,510		1,248,444
Grants in period (shares)		1,093,015	[1],[2]	1,138,787		1,318,152
Vested (shares)		(240,611)		(286,592)
Forfeited (shares)	[3]	(5,988)		(67,129)
Restricted stock units outstanding, end of period (shares)		2,879,926		2,033,510		1,248,444
Weighted Average Grant Date Fair Value
Restricted stock units outstanding, beginning of period (usd per share)		$ 7.69		$ 8.01
Granted (usd per share)		5.78	[2]	7.21	[4]
Vested (usd per share)		8.09		8.07
Forfeited (usd per share)	[3]	8.35		7.76
Restricted stock units outstanding, end of period (usd per share)		$ 6.69		$ 7.69		$ 8.01
Performance Shares, hurdle not yet met
RSUs
Grants in period (shares)		360,000		540,000
[1]	Shareholder approval is required to increase the number of shares available under the Company’s 2011 Stock and Incentive Plan to accommodate these new grants.
[2]	Weighted average grant date fair value excludes 360,000 of performance based RSUs for which performance hurdles will be determined in the future.
[3]	The forfeited share-based awards are returned to the grant pool for reissuance under the 2011 Stock Plan.
[4]	Weighted average grant date fair value excludes 540,000 of performance based RSUs for which performance hurdles will be determined in the future.

RETIREMENT AND SAVINGS PLAN (De

RETIREMENT AND SAVINGS PLAN (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Employee Benefits and Share-based Compensation	$ 300	$ 300
Defined Benefit Plan, Benefit Obligation	$ 0

EARNINGS (LOSS) PER SHARE (D124

EARNINGS (LOSS) PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Net Income (Loss) Attributable to Parent		$ 4,505	$ 5,428
Weighted Average Number of Shares Outstanding, Basic		25,355,064	25,279,226
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	[1]	283,000	697,000
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	[2]	0	458,000
Incremental Common Shares Attributable to Dilutive Effect of Nonvested Shares with Forfeitable Dividends		171,000	138,000
Weighted-average shares - diluted		25,809,402	26,572,416
Earnings Per Share, Basic		$ 0.18	$ 0.21
Earnings (loss) per share, Diluted		$ 0.17	$ 0.20
Stock Options
Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		2,000,000	700,000	1,100,000	800,000
CIFC LLC
Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Net Income (Loss) Attributable to Parent				$ 334	$ 8,381
Weighted Average Number of Shares Outstanding, Basic				25,314,696	22,908,846
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	[3]			590,000	674,000
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	[4]			311,000	500,000
Incremental Common Shares Attributable to Dilutive Effect of Nonvested Shares with Forfeitable Dividends				198,000	85,000
Weighted-average shares - diluted				26,414,268	24,167,641
Earnings Per Share, Basic				$ 0.01	$ 0.37
Earnings (loss) per share, Diluted				$ 0.01	$ 0.35
CIFC Corp
Earnings Per Share, Diluted, by Common Class, Including Two Class Method
Net Income (Loss) Attributable to Parent				$ 384	$ 8,381
Weighted Average Number of Shares Outstanding, Basic				25,314,696	22,908,846
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	[3]			590,000	674,000
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	[4]			311,000	500,000
Incremental Common Shares Attributable to Dilutive Effect of Nonvested Shares with Forfeitable Dividends				198,000	85,000
Weighted-average shares - diluted				26,414,268	24,167,641
Earnings Per Share, Basic				$ 0.02	$ 0.37
Earnings (loss) per share, Diluted				$ 0.01	$ 0.35
[1]	For the three months ended March 31, 2016 and 2015, the Company excluded anti-dilutive share options from the calculation of diluted EPS of $2.0 million and of $0.7 million, respectively.
[2]	For the three months ended March 31, 2016, the warrants were anti-dilutive for purposes of EPS. The warrants expire on January 24, 2017 (Note 13).
[3]	For the years ended December 31, 2015 and 2014, the Company excluded anti-dilutive stock options from the calculation of diluted EPS of 1.1 million and of 0.8 million, respectively.
[4]	On September 24, 2015, the term of the warrants was extended to January 24, 2017 (Note 12).

INCOME TAXES (Details 1 - Na125

INCOME TAXES (Details 1 - Narrative) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Apr. 13, 2011	Jun. 09, 2010
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Valuation Allowance			$ 15,428	$ 15,040
Valuation Allowance, Deferred Tax Asset, Explanation of Change			400
Operating Loss Carryforwards			24,600
Current State and Local Tax Expense (Benefit)			(588)	4,327
Income (loss) before income taxes	$ 5,785	$ 8,769
ILLINOIS
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards			268,500
NEW YORK
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards			28,300
New York City [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards			17,400
Current State and Local Tax Expense (Benefit)			6,300	$ 6,400
Reorganization transaction [Member]
Operating Loss Carryforwards [Line Items]
Current State and Local Tax Expense (Benefit)			$ 3,800
CNCIM Merger Limitation on use of carryforward [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards					$ 9,500	$ 1,300

INCOME TAXES (Details 2 - Incom

INCOME TAXES (Details 2 - Income Tax Expense Table) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Current Federal Tax Expense (Benefit)			$ 14,777	$ 13,899
Current State and Local Tax Expense (Benefit)			(588)	4,327
Current Federal, State and Local, Tax Expense (Benefit)			14,189	18,226
Deferred Federal Income Tax Expense (Benefit)			4,361	(2,672)
Deferred State and Local Income Tax Expense (Benefit)			6,689	6,604
Deferred Federal, State and Local, Tax Expense (Benefit)			11,050	3,932
Income Tax Expense (Benefit)	$ (1,278)	$ (3,087)	$ 25,239	$ 22,158

INCOME TAXES (Details 3 - Incom

INCOME TAXES (Details 3 - Income Tax Rate)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Examination [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%	35.00%
Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Percent	(0.84%)	73.69%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	(0.67%)	31.92%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent	2.74%	26.22%
Effective Income Tax Rate Reconciliation,Other Reconciling Items, Percent	24.02%	64.67%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent	0.00%	(2.88%)
Effective Income Tax Rate Reconciliation, PTP Conversion, Percent	35.04%	0.00%
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	1.04%	(3.32%)
Effective Income Tax Rate Reconciliation, Percent	96.33%	225.30%

INCOME TAXES (Details 4 - Incom

INCOME TAXES (Details 4 - Income Tax Deferred Tax Table) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Goodwill and Intangible Assets		$ 33,160	$ 39,946
Deferred Tax Assets, Operating Loss Carryforwards, State and Local		16,043	16,530
Deferred Tax Assets, Operating Loss Carryforwards, Domestic		8,607	9,070
Deferred Tax Assets, Other		6,340	10,872
Deferred Tax Assets, Gross		64,150	76,418
Deferred Tax Assets, Valuation Allowance		15,428	15,040
Deferred Tax Assets, Net of Valuation Allowance		48,722	61,378
Deferred Tax Liabilities, Net, Noncurrent		2,372	2,663
Deferred Tax Liabilities, Other		1,925	3,240
Deferred Tax Liabilities, Net		4,297	5,903
Deferred tax assets, net	$ 43,110	$ 44,425	$ 55,475

RELATED PARTY TRANSACTIONS (129

RELATED PARTY TRANSACTIONS (Details) $ in Thousands		Dec. 31, 2015USD ($)itemshares		Jul. 12, 2014shares	Jul. 12, 2014shares	Mar. 31, 2016USD ($)itemshares	Mar. 31, 2015USD ($)	Dec. 31, 2013shares	Dec. 31, 2015USD ($)itemshares		Dec. 31, 2014USD ($)itemshares
Related Party Transaction [Line Items]
Professional Fees						$ 2,072	$ 1,926
Interest expense						1,957	494
Debt Instrument, Convertible, Number of Equity Instruments | shares				4,132,231	4,132,231
Number of related Party investments in CIFC CLOs											1
Related Party investments		$ 70,696				77,347			$ 70,696
Cash and cash equivalents		57,968				52,011	41,461		57,968		$ 59,290
CIFC FUNDING 2013-II - Board Member Investment
Related Party Transaction [Line Items]
Debt Instrument, face amount		$ 1,000				1,000			1,000
DFR Holdings Board of Directors [Member]
Related Party Transaction [Line Items]
Base Compensation						$ 200	200		$ 700		$ 800
DFR Holdings LLC
Related Party Transaction [Line Items]
Number of shares owned (shares) | shares		18,800,000				18,800,000		10,090,909	18,800,000		18,800,000
Professional Fees						$ 500	$ 500		$ 2,000		$ 2,000
Directors designated by DFR Holdings								6
Interest expense											1,900
CIFC Corp
Related Party Transaction [Line Items]
Preferred Units, Issued | shares		85,000							85,000
Preferred Units, Contributed Capital		$ 85,000				85,000			$ 85,000
Senior Notes [Member]
Related Party Transaction [Line Items]
Long-term Debt, Gross	[2]	$ 40,000	[1]			$ 40,000			$ 40,000	[1]
CIFC FUNDING 2013-II - Board Member Investment
Related Party Transaction [Line Items]
Debt Instrument, face amount											$ 1,000
Number of related Party investments in CIFC CLOs		1				1			1
Board Member ownership %		50.00%				50.00%			50.00%		50.00%
CIFC Funds
Related Party Transaction [Line Items]
Related Party investments		$ 4,700				$ 4,700			$ 4,700		$ 4,700
Aggregate related party investment in funds | item		4				4			4		4
CIFC Corp | Dividend in kind cash [Member]
Related Party Transaction [Line Items]
Cash and cash equivalents		$ 42,000							$ 42,000
Warrants | DFR Holdings LLC
Related Party Transaction [Line Items]
Class of warrant, outstanding | shares		2,000,000				2,000,000		2,000,000	2,000,000		2,000,000
Proceeds from extension of warrants											$ 200
Minimum [Member] | DFR Holdings LLC
Related Party Transaction [Line Items]
DRF holdings ownership percentage		5.00%				5.00%			5.00%
Series A Preferred Stock [Member] | CIFC Corp
Related Party Transaction [Line Items]
Preferred Stock, Dividend Rate, Percentage						3.50%			3.50%
Call Option [Member] | CIFC Corp
Related Party Transaction [Line Items]
Preferred stock callable period		4 years
[1]	The Senior Notes bear interest at 8.5% and mature on October 30, 2025
[2]	The Senior Notes bear interest at 8.5% and mature on October 30, 2025. As of January 1, 2016, the Company temporarily did not meet certain registration requirements under the indenture (and associated agreements) and incurred additional interest of 25 basis points per annum for the period ended March 31, 2016. Each 90 days thereafter interest will increase by 25 basis points (capped at 1% per annum) until cured. The Company has cured these conditions and expects the additional interest to end in July 2016.

COMMITMENTS AND CONTINGENCIE130

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Lease Commitments
Occupancy, Net	$ 400	$ 400	$ 1,700	$ 1,700
Next Twelve Months			1,607
Due in two years			1,607
Due in three years			1,680
Due in Four Years			1,752
Due in Five Years			1,752
Thereafter			3,506
Future Minimum Payments Due			11,904
Consolidated Entities
Other Commitments and Contingencies
Unfunded investment commitments	$ 1,300		$ 1,000	$ 5,900

RULE S-X 3-10 BALANCE SHEET 131

RULE S-X 3-10 BALANCE SHEET (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015		Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash and cash equivalents		$ 52,011	$ 57,968		$ 41,461	$ 59,290
Restricted cash and cash equivalents		1,694	1,694
Investments		77,347	70,696
Intercompany investments in subsidiaries		0	0
Receivables		8,925	7,075
Prepaid and other assets		2,817	1,973
Deferred tax assets, net		43,110	44,425			55,475
Equipment and improvements, net		4,562	4,866			5,194
Intangible assets, net		5,393	6,857			15,074
Goodwill		76,000	76,000
Subtotal		271,859	271,554
Assets		1,728,079	1,747,203
Due to brokers		0	61
Accrued and other liabilities		12,451	18,397
Contingent Liabilities		8,142	8,338
Long-term debt		156,237	156,161
Subtotal		185,500	182,957
Liabilities		1,551,611	1,568,401
Common Stock, Value, Issued		25	25
Intercompany Preferred Units		0	0	[1]
Treasury Stock, Value		(435)	0
Additional paid-in capital		994,766	992,419
Retained earnings (deficit)		(825,656)	(821,491)
Stockholders' Equity Attributable to Parent		168,700	170,953
TOTAL EQUITY		176,468	178,802		198,558	521,902
TOTAL LIABILITIES AND EQUITY		1,728,079	1,747,203
CIFC LLC
Cash and cash equivalents			57,968			59,290	$ 25,497
Restricted cash and cash equivalents			1,694			1,694
Investments			70,696			38,699
Intercompany investments in subsidiaries			0			0
Receivables			7,075			2,135
Prepaid and other assets			1,973			2,285
Deferred tax assets, net			44,425			55,475
Equipment and improvements, net			4,866			5,194
Intangible assets, net			6,857			15,074
Goodwill			76,000			76,000
Subtotal			271,554			255,846
Assets			1,747,203			13,146,305
Due to brokers			61			0
Accrued and other liabilities			18,397			15,584
Contingent Liabilities			8,338			12,668
Long-term debt			156,161			118,170
Subtotal			182,957			146,422
Liabilities			1,568,401			12,624,403
Common Stock, Value, Issued			25			25
Intercompany Preferred Units			0
Treasury Stock, Value			0			(914)
Additional paid-in capital			992,419			988,904
Retained earnings (deficit)			(821,491)			(811,695)
Stockholders' Equity Attributable to Parent			170,953			176,320
TOTAL EQUITY			178,802			521,902	$ 307,753
TOTAL LIABILITIES AND EQUITY			1,747,203			13,146,305
Consolidated VIEs
Restricted cash and cash equivalents		80,592	94,018
Due from brokers		24,293	25,910
Investments		1,346,963	1,351,403
Receivables		4,185	4,109
Prepaid and other assets		187	209
Assets	[2]	1,456,220	1,475,649
Due to brokers		49,350	71,603
Accrued and other liabilities		229	193
Interest payable		4,474	5,090
Liabilities	[2]	1,366,111	1,385,444
Consolidated VIEs | CIFC LLC
Restricted cash and cash equivalents			94,018			929,401
Due from brokers			25,910			102,373
Investments			1,351,403			11,573,164
Receivables			4,109			40,235
Prepaid and other assets			209			0
Assets	[2]		1,475,649			12,645,173
Due to brokers			71,603			372,956
Accrued and other liabilities			193			1,230
Interest payable			5,090			36,174
Liabilities	[2]		1,385,444			12,459,394
Retained Earnings, Appropriated			0			134,764
Consolidated Funds
Noncontrolling interests in Consolidated Funds (Note 2)		7,768	7,849
Consolidated Funds | CIFC LLC
Noncontrolling interests in Consolidated Funds (Note 2)			7,849			210,818
Consolidated Entities
Restricted cash and cash equivalents		80,592	94,018
Due from brokers		24,293	25,910
Investments		1,346,963	1,351,403
Receivables		4,185	4,109
Prepaid and other assets		187	209
Assets	[2]	1,456,220	1,475,649
Due to brokers		49,350	71,603
Accrued and other liabilities		229	193
Interest payable		4,474	5,090
Long-term debt		1,312,058	1,308,558
Liabilities	[2]	1,366,111	1,385,444
Consolidated Entities | CIFC LLC
Restricted cash and cash equivalents			94,018			935,416
Due from brokers			25,910			120,541
Investments			1,351,403			11,772,826
Receivables			4,109			40,994
Prepaid and other assets			209			20,682
Assets	[2]		1,475,649			12,890,459
Due to brokers			71,603			391,291
Accrued and other liabilities			193			1,482
Interest payable			5,090			36,174
Long-term debt			1,308,558			12,049,034
Liabilities	[2]		1,385,444			12,477,981
Parent Company [Member]
Cash and cash equivalents		1,094	0		0	0
Restricted cash and cash equivalents		0	0			0
Investments		0	0			$ 0
Intercompany investments in subsidiaries		177,449	170,174
Receivables		154	785			$ 0
Prepaid and other assets		0	0			0
Deferred tax assets, net		0	0			0
Equipment and improvements, net		0	0			0
Intangible assets, net		0	0			0
Goodwill		0	0			0
Subtotal		178,697	170,959			0
Assets		178,697	170,959			0
Due to brokers			0
Accrued and other liabilities		1,322	50			0
Contingent Liabilities		0	0			0
Long-term debt		0	0			0
Subtotal		9,992	50			0
Liabilities		9,992	50			0
Common Stock, Value, Issued		25	25			0
Intercompany Preferred Units		0	0	[1]
Treasury Stock, Value		435	0			0
Additional paid-in capital		994,771	992,425			0
Retained earnings (deficit)		(825,656)	(821,541)			0
Stockholders' Equity Attributable to Parent		168,705	170,909			0
TOTAL EQUITY		168,705	170,909			0
TOTAL LIABILITIES AND EQUITY		178,697	170,959			0
Parent Company [Member] | Consolidated VIEs
Retained Earnings, Appropriated						0
Parent Company [Member] | Consolidated Funds
Noncontrolling interests in Consolidated Funds (Note 2)		0	0			0
Parent Company [Member] | Consolidated Entities
Restricted cash and cash equivalents		0	0			0
Due from brokers		0	0			0
Investments		0	0			0
Receivables		0	0			0
Prepaid and other assets		0	0			0
Assets	[2]	0	0			0
Due to brokers		0	0			0
Accrued and other liabilities		0	0			0
Interest payable		0	0			0
Long-term debt		0	0			0
Liabilities	[2]	0	0			0
Subsidiary Issuer [Member]
Cash and cash equivalents		382	1,392		954	2,156	$ 872
Restricted cash and cash equivalents		0	0			0
Investments		0	0			0
Intercompany investments in subsidiaries		104,281	120,896			156,053
Receivables		3,546	295			721
Prepaid and other assets		1,172	1,621			2,106
Deferred tax assets, net		43,110	44,425			55,475
Equipment and improvements, net		0	0			0
Intangible assets, net		5,393	6,232			13,275
Goodwill		66,549	66,549			66,550
Subtotal		224,433	241,410			296,336
Assets		224,433	241,410			296,336
Due to brokers			61
Accrued and other liabilities		4,172	24,185			1,846
Contingent Liabilities		0	0			0
Long-term debt		156,237	156,161			118,170
Subtotal		160,409	180,407			120,016
Liabilities		160,409	180,407			120,016
Common Stock, Value, Issued		1	25			25
Intercompany Preferred Units		0	0	[1]
Treasury Stock, Value		0	0			(914)
Additional paid-in capital		885,377	992,419			988,904
Retained earnings (deficit)		(821,354)	(931,441)			(811,695)
Stockholders' Equity Attributable to Parent		64,024	61,003			176,320
TOTAL EQUITY		64,024	61,003			176,320
TOTAL LIABILITIES AND EQUITY		224,433	241,410			296,336
Subsidiary Issuer [Member] | Consolidated VIEs
Retained Earnings, Appropriated						0
Subsidiary Issuer [Member] | Consolidated Funds
Noncontrolling interests in Consolidated Funds (Note 2)		0	0			0
Subsidiary Issuer [Member] | Consolidated Entities
Restricted cash and cash equivalents		0	0			0
Due from brokers		0	0			0
Investments		0	0			0
Receivables		0	0			0
Prepaid and other assets		0	0			0
Assets	[2]	0	0			0
Due to brokers		0	0			0
Accrued and other liabilities		0	0			0
Interest payable		0	0			0
Long-term debt		0	0			0
Liabilities	[2]	0	0			0
Guarantor Subsidiaries [Member]
Cash and cash equivalents		50,535	56,576		40,507	57,134	20,494
Restricted cash and cash equivalents		1,694	1,694			1,694
Investments		159,177	152,455			80,115
Intercompany investments in subsidiaries		113,497	61,004			0
Receivables		7,909	27,242			5,759
Prepaid and other assets		1,645	352			179
Deferred tax assets, net		0	0			0
Equipment and improvements, net		4,562	4,866			5,194
Intangible assets, net		0	625			1,799
Goodwill		9,451	9,451			9,450
Subtotal		348,470	314,265			161,324
Assets		348,470	314,265			249,205
Due to brokers			0
Accrued and other liabilities		9,126	14,808			13,738
Contingent Liabilities		8,142	8,338			12,668
Long-term debt		0	0			0
Subtotal		17,268	23,146			26,406
Liabilities		17,268	23,146			93,152
Common Stock, Value, Issued		0	0			0
Intercompany Preferred Units		85,000	$ 85,000	[1]
Treasury Stock, Value		0				0
Additional paid-in capital		662,399	$ 528,946			591,518
Retained earnings (deficit)		(416,197)	(322,827)			(435,465)
Stockholders' Equity Attributable to Parent		331,202	291,119			156,053
TOTAL EQUITY		331,202	291,119			156,053
TOTAL LIABILITIES AND EQUITY		348,470	314,265			249,205
Guarantor Subsidiaries [Member] | Consolidated VIEs
Retained Earnings, Appropriated						0
Guarantor Subsidiaries [Member] | Consolidated Funds
Noncontrolling interests in Consolidated Funds (Note 2)		0	0			0
Guarantor Subsidiaries [Member] | Consolidated Entities
Restricted cash and cash equivalents		0	0			6,872
Due from brokers		0	0			36,645
Investments		0	0			44,083
Receivables		0	0			281
Prepaid and other assets		0	0			0
Assets	[2]	0	0			87,881
Due to brokers		0	0			15,583
Accrued and other liabilities		0	0			0
Interest payable		0	0			163
Long-term debt		0	0			51,000
Liabilities	[2]	0	0			66,746
Non-Guarantor Subsidiaries [Member]
Cash and cash equivalents		0	0		0	0	4,131
Restricted cash and cash equivalents		0	0			0
Investments		0	0			0
Intercompany investments in subsidiaries		0	0			0
Receivables		0	0			0
Prepaid and other assets		0	0			0
Deferred tax assets, net		0	0			0
Equipment and improvements, net		0	0			0
Intangible assets, net		0	0			0
Goodwill		0	0			0
Subtotal		0	0			0
Assets		1,456,220	1,475,649			12,802,578
Due to brokers			0
Accrued and other liabilities		0	0			0
Contingent Liabilities		0	0			0
Long-term debt		0	0			0
Subtotal		0	0			0
Liabilities		1,414,823	1,434,586			12,440,818
Common Stock, Value, Issued		0	0			0
Intercompany Preferred Units		0	0	[1]
Treasury Stock, Value		0	0			0
Additional paid-in capital		0	0			0
Retained earnings (deficit)		0	0			0
Stockholders' Equity Attributable to Parent		0	0			0
TOTAL EQUITY		41,397	41,063			361,760
TOTAL LIABILITIES AND EQUITY		1,456,220	1,475,649			12,802,578
Non-Guarantor Subsidiaries [Member] | Consolidated VIEs
Retained Earnings, Appropriated						134,764
Non-Guarantor Subsidiaries [Member] | Consolidated Funds
Noncontrolling interests in Consolidated Funds (Note 2)		41,397	41,063			226,996
Non-Guarantor Subsidiaries [Member] | Consolidated Entities
Restricted cash and cash equivalents		80,592	94,018			928,544
Due from brokers		24,293	25,910			83,896
Investments		1,346,963	1,351,403			11,728,743
Receivables		4,185	4,109			40,713
Prepaid and other assets		187	209			20,682
Assets	[2]	1,456,220	1,475,649			12,802,578
Due to brokers		49,350	71,603			375,708
Accrued and other liabilities		623	631			5,825
Interest payable		4,595	5,257			36,013
Long-term debt		1,360,255	1,357,095			12,023,272
Liabilities	[2]	1,414,823	1,434,586			12,440,818
Consolidation, Eliminations [Member]
Cash and cash equivalents		0	0		$ 0	0	$ 0
Restricted cash and cash equivalents		0	0			0
Investments		(81,830)	(81,759)			(41,416)
Intercompany investments in subsidiaries		(395,227)	(352,074)			(156,053)
Receivables		(2,684)	(21,247)			(4,345)
Prepaid and other assets		0	0			0
Deferred tax assets, net		0	0			0
Equipment and improvements, net		0	0			0
Intangible assets, net		0	0			0
Goodwill		0	0			0
Subtotal		(479,741)	(455,080)			(201,814)
Assets		(479,741)	(455,080)			(201,814)
Due to brokers			0
Accrued and other liabilities		(2,169)	(20,646)			0
Contingent Liabilities		0	0			0
Long-term debt		0	0			0
Subtotal		(2,169)	(20,646)			0
Liabilities		(50,881)	(69,788)			(29,583)
Common Stock, Value, Issued		(1)	(25)			0
Intercompany Preferred Units		(85,000)	(85,000)	[1]
Treasury Stock, Value		0	0			0
Additional paid-in capital		(1,547,781)	(1,521,371)			(591,518)
Retained earnings (deficit)		1,237,551	1,254,318			435,465
Stockholders' Equity Attributable to Parent		(395,231)	(352,078)			(156,053)
TOTAL EQUITY		(428,860)	(385,292)			(172,231)
TOTAL LIABILITIES AND EQUITY		(479,741)	(455,080)			$ (201,814)
Consolidation, Eliminations [Member] | Consolidated VIEs
Retained Earnings, Appropriated
Consolidation, Eliminations [Member] | Consolidated Funds
Noncontrolling interests in Consolidated Funds (Note 2)		(33,629)	(33,214)			$ (16,178)
Consolidation, Eliminations [Member] | Consolidated Entities
Restricted cash and cash equivalents		0	0			0
Due from brokers		0	0			$ 0
Investments		0	0
Receivables		0	0			$ 0
Prepaid and other assets		0	0			0
Assets	[2]	0	0			0
Due to brokers		0	0			0
Accrued and other liabilities		(394)	(438)			(4,343)
Interest payable		(121)	(167)			(2)
Long-term debt		(48,197)	(48,537)			(25,238)
Liabilities	[2]	$ (48,712)	$ (49,142)			$ (29,583)
[1]	CIFC Corp. holds 85.0 million of intercompany non-voting series A preferred units that bear an annual rate of 3.5%.
[2]	The assets of the Consolidated Entities would not be available to the Company's general creditors, and as a result, the Company does not consider them its assets. Additionally, the investors in the debt and residual interests of the Consolidated Entities have no recourse to the Company's general assets. Therefore, this debt is not the Company's obligation.

RULE S-X 3-10 STATEMENT OF O132

RULE S-X 3-10 STATEMENT OF OPERATIONS (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Management & Incentive fees	$ 19,815,000	$ 21,614,000
Interest income from investments	933,000	2,607,000
Total net revenues	39,738,000	26,977,000
Employee compensation and benefits	9,514,000	8,564,000
Share-based compensation	2,381,000	1,680,000
Professional Fees	2,072,000	1,926,000
General and administrative expenses	2,517,000	2,297,000
Depreciation and amortization	1,296,000	2,409,000
Impairment of intangible assets	531,000	281,000	$ 1,800,000
Operating Expenses	29,076,000	19,663,000
Interest expense	1,957,000	494,000
Net gain (loss) on investments	271,000	1,193,000
Net gain (loss) on liabilities	(364,000)	(713,000)
Net gain (loss) on investments in subsidiaries	0	0	0	$ 0
Other Nonoperating Income (Expense)	(4,877,000)	1,455,000
Income (loss) before income taxes	5,785,000	8,769,000
Income Tax Expense (Benefit)	1,278,000	3,087,000	$ (25,239,000)	(22,158,000)
Net income (loss)	4,507,000	5,682,000
Net Income (Loss) Attributable to Parent	4,505,000	5,428,000
CIFC LLC
Management & Incentive fees			$ 92,079,000	4,868,000
Interest income from investments			5,333,000	790,000
Total net revenues			122,518,000	522,910,000
Employee compensation and benefits			32,027,000	28,805,000
Share-based compensation			5,550,000	2,692,000
Professional Fees			9,935,000	7,259,000
General and administrative expenses			9,922,000	10,686,000
Depreciation and amortization			7,777,000	11,421,000
Impairment of intangible assets			1,828,000	0
Operating Expenses			91,525,000	277,104,000
Interest expense			3,808,000	4,236,000
Net gain (loss) on investments			(4,181,000)	2,474,000
Net gain (loss) on liabilities			(2,210,000)	(2,932,000)
Net gain on sale of management contract			0	229,000
Other Nonoperating Income (Expense)			(4,789,000)	(235,971,000)
Income (loss) before income taxes			26,204,000	9,835,000
Income Tax Expense (Benefit)			(25,239,000)	(22,158,000)
Net income (loss)			965,000	(12,323,000)
Net Income (Loss) Attributable to Parent			$ 334,000	8,381,000
Consolidated Entities
Investment income	18,990,000	2,756,000
Operating Expenses	388,000	1,268,000
Interest expense	8,420,000	744,000
Net gain (loss) on investments	2,600,000	2,797,000
Net gain (loss) on liabilities	(7,384,000)	(2,260,000)
Net Gain (Loss) on other investments and derivatives	0	438,000
Net gain (loss) on investments in subsidiaries	0	0
Net Income (Loss) Attributable to Noncontrolling Interest	(2,000)	(254,000)
Consolidated Entities | CIFC LLC
Interest income from investments			$ 15,202,000	345,321,000
Investment income			25,106,000	517,252,000
Operating Expenses			10,774,000	40,074,000
Interest expense			9,904,000	171,931,000
Net gain (loss) on investments			(26,114,000)	(228,777,000)
Net gain (loss) on liabilities			24,746,000	(8,996,000)
Net Gain (Loss) on other investments and derivatives			2,970,000	2,031,000
Net gain (loss) on investments in subsidiaries			0	0
Net Income (Loss) Attributable to Noncontrolling Interest			(631,000)	20,704,000
Parent Company [Member]
Management & Incentive fees	0	0	0	0
Interest income from investments	0	0	0	0
Investment income		0	0	0
Total net revenues	0	0	0	0
Employee compensation and benefits	0	0	0	0
Share-based compensation	130,000	0	0	0
Professional Fees	308,000	0	50,000	0
General and administrative expenses	132,000	0	0	0
Depreciation and amortization	0	0	0	0
Impairment of intangible assets	0	0	0
Operating Expenses	570,000	0	50,000	0
Interest expense	0	0	0	0
Net gain (loss) on investments	0	0	0	0
Net gain (loss) on liabilities	0	0	0	0
Net gain (loss) on investments in subsidiaries	(5,075,000)	0	0	0
Net gain on sale of management contract				0
Other Nonoperating Income (Expense)	5,075,000	0	0	0
Income (loss) before income taxes	4,505,000	0	(50,000)	0
Income Tax Expense (Benefit)	0	0	0	0
Net income (loss)	4,505,000	0	(50,000)	0
Net Income (Loss) Attributable to Parent	4,505,000	0	(50,000)	0
Parent Company [Member] | Consolidated Entities
Investment income	0
Operating Expenses	0	0	0	0
Interest expense	0	0	0	0
Net gain (loss) on investments	0	0	0	0
Net gain (loss) on liabilities	0	0	0	0
Net Gain (Loss) on other investments and derivatives		0	0	0
Net gain (loss) on investments in subsidiaries	5,075,000	0	0	0
Net Income (Loss) Attributable to Noncontrolling Interest	0	0	0	0
Subsidiary Issuer [Member]
Management & Incentive fees	0	0	0	0
Interest income from investments	744,000	0	0	1,000
Investment income		0	0	0
Total net revenues	744,000	0	0	1,000
Employee compensation and benefits	0	0	0	0
Share-based compensation	130,000	142,000	299,000	274,000
Professional Fees	885,000	1,078,000	6,411,000	3,964,000
General and administrative expenses	644,000	958,000	3,392,000	3,523,000
Depreciation and amortization	839,000	1,821,000	5,543,000	8,512,000
Impairment of intangible assets	0	281,000	1,501,000
Operating Expenses	4,455,000	4,774,000	20,954,000	20,188,000
Interest expense	1,957,000	494,000	3,808,000	3,915,000
Net gain (loss) on investments	0	0	0	0
Net gain (loss) on liabilities	0	0	0	0
Net gain (loss) on investments in subsidiaries	(5,859,000)	(13,289,000)	(46,577,000)	(50,726,000)
Net gain on sale of management contract				0
Other Nonoperating Income (Expense)	5,859,000	13,289,000	46,577,000	50,726,000
Income (loss) before income taxes	2,148,000	8,515,000	25,623,000	30,539,000
Income Tax Expense (Benefit)	1,278,000	3,087,000	(25,239,000)	(22,158,000)
Net income (loss)	870,000	5,428,000	384,000	8,381,000
Net Income (Loss) Attributable to Parent	870,000	5,428,000	384,000	8,381,000
Subsidiary Issuer [Member] | Consolidated Entities
Investment income	0
Operating Expenses	0	0	0	0
Interest expense	0	0	0	0
Net gain (loss) on investments	0	0	0	0
Net gain (loss) on liabilities	0	0	0	0
Net Gain (Loss) on other investments and derivatives		0	0	0
Net gain (loss) on investments in subsidiaries	5,859,000	13,289,000	46,577,000	50,726,000
Net Income (Loss) Attributable to Noncontrolling Interest	0	0	0	0
Guarantor Subsidiaries [Member]
Management & Incentive fees	21,521,000	21,833,000	96,765,000	84,201,000
Interest income from investments	3,217,000	2,736,000	6,564,000	10,341,000
Total net revenues	24,738,000	25,392,000	104,152,000	96,929,000
Employee compensation and benefits	9,514,000	8,564,000	32,027,000	28,805,000
Share-based compensation	2,121,000	1,538,000	5,251,000	2,418,000
Professional Fees	879,000	848,000	3,474,000	3,295,000
General and administrative expenses	1,741,000	1,339,000	6,530,000	7,163,000
Depreciation and amortization	457,000	588,000	2,234,000	2,909,000
Impairment of intangible assets	531,000	0	327,000
Operating Expenses	15,987,000	13,123,000	50,090,000	46,361,000
Interest expense	744,000	0	0	321,000
Net gain (loss) on investments	1,677,000	939,000	(6,071,000)	3,664,000
Net gain (loss) on liabilities	(364,000)	(713,000)	$ (2,210,000)	(2,932,000)
Net gain (loss) on investments in subsidiaries	(871,000)	0		0
Net gain on sale of management contract				229,000
Other Nonoperating Income (Expense)	2,184,000	1,022,000	$ (7,485,000)	158,000
Income (loss) before income taxes	10,935,000	13,291,000	46,577,000	50,726,000
Income Tax Expense (Benefit)	0	0	0	0
Net income (loss)	10,935,000	13,291,000	46,577,000	50,726,000
Net Income (Loss) Attributable to Parent	10,935,000	13,291,000	46,577,000	50,726,000
Guarantor Subsidiaries [Member] | Consolidated Entities
Investment income	0	823,000	823,000	2,387,000
Operating Expenses	0	15,000	15,000	1,025,000
Interest expense	0	231,000	232,000	425,000
Net gain (loss) on investments	0	796,000	796,000	(803,000)
Net gain (loss) on liabilities	0	0	0	0
Net Gain (Loss) on other investments and derivatives		0	0	0
Net gain (loss) on investments in subsidiaries	871,000	0	0	0
Net Income (Loss) Attributable to Noncontrolling Interest	0	0	0	0
Non-Guarantor Subsidiaries [Member]
Management & Incentive fees	0	0	0	0
Interest income from investments	0	0	0	0
Investment income		1,933,000	24,283,000	514,865,000
Total net revenues	18,990,000	1,933,000	24,283,000	514,865,000
Employee compensation and benefits	0	0	0	0
Share-based compensation	0	0	0	0
Professional Fees	0	0	0	0
General and administrative expenses	0	0	0	0
Depreciation and amortization	0	0	0	0
Impairment of intangible assets	0	0	0
Operating Expenses	10,689,000	1,985,000	25,287,000	289,896,000
Interest expense	0	0	0	0
Net gain (loss) on investments	0	0	0	0
Net gain (loss) on liabilities	0	0	0	0
Net gain (loss) on investments in subsidiaries	0	0	0	0
Net gain on sale of management contract				0
Other Nonoperating Income (Expense)	(7,887,000)	613,000	2,207,000	(244,066,000)
Income (loss) before income taxes	414,000	561,000	1,203,000	(19,097,000)
Income Tax Expense (Benefit)	0	0	0	0
Net income (loss)	414,000	561,000	1,203,000	(19,097,000)
Net Income (Loss) Attributable to Parent	0	0	0	0
Non-Guarantor Subsidiaries [Member] | Consolidated Entities
Investment income	18,990,000
Operating Expenses	2,094,000	1,472,000	15,448,000	118,383,000
Interest expense	8,595,000	513,000	9,839,000	171,513,000
Net gain (loss) on investments	2,600,000	2,001,000	(26,910,000)	(227,974,000)
Net gain (loss) on liabilities	(10,487,000)	(1,826,000)	26,147,000	(18,123,000)
Net Gain (Loss) on other investments and derivatives		438,000	2,970,000	2,031,000
Net gain (loss) on investments in subsidiaries	0	0	0	0
Net Income (Loss) Attributable to Noncontrolling Interest	(414,000)	(561,000)	(1,203,000)	19,097,000
Consolidation, Eliminations [Member]
Management & Incentive fees	(1,706,000)	(219,000)	(4,686,000)	(79,333,000)
Interest income from investments	(3,028,000)	(129,000)	(1,231,000)	(9,552,000)
Total net revenues	(4,734,000)	(348,000)	(5,917,000)	(88,885,000)
Employee compensation and benefits	0	0	0	0
Share-based compensation	0	0	0	0
Professional Fees	0	0	0	0
General and administrative expenses	0	0	0	0
Depreciation and amortization	0	0	0	0
Impairment of intangible assets	0	0	0
Operating Expenses	(2,625,000)	(219,000)	(4,856,000)	(79,341,000)
Interest expense	(744,000)	0	0	0
Net gain (loss) on investments	(1,406,000)	254,000	1,890,000	(1,190,000)
Net gain (loss) on liabilities	0	0	0	0
Net gain (loss) on investments in subsidiaries	11,805,000	13,289,000	46,577,000	50,726,000
Net gain on sale of management contract				0
Other Nonoperating Income (Expense)	(10,108,000)	(13,469,000)	(46,088,000)	(42,789,000)
Income (loss) before income taxes	(12,217,000)	(13,598,000)	(47,149,000)	(52,333,000)
Income Tax Expense (Benefit)	0	0	0	0
Net income (loss)	(12,217,000)	(13,598,000)	(47,149,000)	(52,333,000)
Net Income (Loss) Attributable to Parent	(11,805,000)	(13,291,000)	(46,577,000)	(50,726,000)
Consolidation, Eliminations [Member] | Consolidated Entities
Investment income	0	0	0	0
Operating Expenses	(1,706,000)	(219,000)	(4,689,000)	(79,334,000)
Interest expense	(175,000)	0	(167,000)	(7,000)
Net gain (loss) on investments	0	0	0	0
Net gain (loss) on liabilities	3,103,000	(434,000)	(1,401,000)	9,127,000
Net Gain (Loss) on other investments and derivatives		0	0	0
Net gain (loss) on investments in subsidiaries	(11,805,000)	(13,289,000)	(46,577,000)	(50,726,000)
Net Income (Loss) Attributable to Noncontrolling Interest	$ 412,000	$ 307,000	$ 572,000	$ 1,607,000

RULE S-X 3-10 STATEMENT OF C133

RULE S-X 3-10 STATEMENT OF COMPREHENSIVE INCOME (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Guarantor Obligations [Line Items]
Net income (loss)	$ 4,507,000	$ 5,682,000
Other comprehensive income (loss)	0	0
Comprehensive income (loss)	4,507,000	5,682,000
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	4,505,000	5,428,000
CIFC LLC
Guarantor Obligations [Line Items]
Net income (loss)			$ 965,000	$ (12,323,000)
Other comprehensive income (loss)			0	0
Comprehensive income (loss)			965,000	(12,323,000)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent			334,000	8,381,000
CIFC Corp
Guarantor Obligations [Line Items]
Net income (loss)			1,015,000	(12,323,000)
Other comprehensive income (loss)			0	0
Comprehensive income (loss)			1,015,000	(12,323,000)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent			$ 384,000	8,381,000
Consolidated Entities
Guarantor Obligations [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interest	(2,000)	(254,000)
Consolidated Entities | CIFC LLC
Guarantor Obligations [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interest			$ (631,000)	20,704,000
Consolidated Entities | CIFC Corp
Guarantor Obligations [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interest			(631,000)	20,704,000
Parent Company [Member]
Guarantor Obligations [Line Items]
Net income (loss)	4,505,000	0	(50,000)	0
Other comprehensive income (loss)	0	0	0	0
Comprehensive income (loss)	4,505,000	0	(50,000)	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	4,505,000	0	(50,000)	0
Parent Company [Member] | Consolidated Entities
Guarantor Obligations [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interest	0	0	0	0
Subsidiary Issuer [Member]
Guarantor Obligations [Line Items]
Net income (loss)	870,000	5,428,000	384,000	8,381,000
Other comprehensive income (loss)	0	0	0	0
Comprehensive income (loss)	870,000	5,428,000	384,000	8,381,000
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	870,000	5,428,000	384,000	8,381,000
Subsidiary Issuer [Member] | Consolidated Entities
Guarantor Obligations [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interest	0	0	0	0
Guarantor Subsidiaries [Member]
Guarantor Obligations [Line Items]
Net income (loss)	10,935,000	13,291,000	46,577,000	50,726,000
Other comprehensive income (loss)	0	0	0	0
Comprehensive income (loss)	10,935,000	13,291,000	46,577,000	50,726,000
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	10,935,000	13,291,000	46,577,000	50,726,000
Guarantor Subsidiaries [Member] | Consolidated Entities
Guarantor Obligations [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interest	0	0	0	0
Non-Guarantor Subsidiaries [Member]
Guarantor Obligations [Line Items]
Net income (loss)	414,000	561,000	1,203,000	(19,097,000)
Other comprehensive income (loss)	0	0	0	0
Comprehensive income (loss)	414,000	561,000	1,203,000	(19,097,000)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	0	0	0	0
Non-Guarantor Subsidiaries [Member] | Consolidated Entities
Guarantor Obligations [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interest	(414,000)	(561,000)	(1,203,000)	19,097,000
Consolidation, Eliminations [Member]
Guarantor Obligations [Line Items]
Net income (loss)	(12,217,000)	(13,598,000)	(47,149,000)	(52,333,000)
Other comprehensive income (loss)	0	0	0	0
Comprehensive income (loss)	(12,217,000)	(13,598,000)	(47,149,000)	(52,333,000)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(11,805,000)	(13,291,000)	(46,577,000)	(50,726,000)
Consolidation, Eliminations [Member] | Consolidated Entities
Guarantor Obligations [Line Items]
Net Income (Loss) Attributable to Noncontrolling Interest	$ 412,000	$ 307,000	$ 572,000	$ 1,607,000

RULE S-X 3-10 STATEMENT OF C134

RULE S-X 3-10 STATEMENT OF CASH FLOWS (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net income (loss)	$ 4,507,000	$ 5,682,000
Amortization of debt issuance costs and other	76,000	22,000
Share-based compensation	2,381,000	1,680,000
Net (gain) loss on investments and contingent liabilities / other (gain) loss	93,000	(480,000)
Net gain (loss) on investments in subsidiaries	0	0	$ 0	$ 0
Depreciation and amortization	1,296,000	2,409,000
Impairment of intangible assets	531,000	281,000	1,800,000
Deferred income tax expense (benefit)	1,315,000	(150,000)
Excess tax benefits from share-based payment arrangements	230,000	(8,000)
Net (gain) loss on liabilities	364,000	713,000
Due from brokers	0	(974,000)
Receivables	(1,850,000)	461,000
Prepaid and other assets	(848,000)	(1,003,000)
Due to brokers	(61,000)	6,245,000
Accrued and Other Liabilities	(5,461,000)	(6,954,000)
Net cash provided by (used in) operating activities	(7,237,000)	(10,351,000)
Proceeds from the sale of management contracts		0
Purchases of investments	(16,134,000)	(13,193,000)
Sales of investments	9,712,000	35,301,000
Intercompany investments in subsidiaries	0	0
Intercompany distributions from subsidiaries		0
Purchases of equipment and improvements	(61,000)	(403,000)
Net cash provided by (used in) investing activities	6,943,000	(33,168,000)
Repurchases of common shares	(435,000)	0
Intercompany contributions	0	0
Intercompany distributions	0	0
Proceeds from the exercise of options	241,000	121,000
Payments for tax from the delivery of restricted stock units	(45,000)	(265,000)
Deferred purchase payments and payments on contingent liabilities	(999,000)	(1,559,000)
Excess tax benefits from share-based payment arrangements	230,000	(8,000)
Net cash provided by (used in) financing activities	(5,663,000)	25,690,000
Net Cash Provided by (Used in) Continuing Operations	(5,957,000)	(17,829,000)
Cash and cash equivalents	52,011,000	41,461,000	57,968,000	59,290,000
CIFC LLC
Net income (loss)			965,000	(12,323,000)
Amortization of debt issuance costs and other			125,000	1,017,000
Share-based compensation			5,550,000	2,692,000
Net (gain) loss on investments and contingent liabilities / other (gain) loss			6,391,000	458,000
Depreciation and amortization			7,777,000	11,421,000
Impairment of intangible assets			1,828,000	0
Deferred income tax expense (benefit)			11,050,000	3,932,000
Excess tax benefits from share-based payment arrangements			128,000	(171,000)
Net gain on sale of management contract			0	(229,000)
Net (gain) loss on liabilities			2,210,000	2,932,000
Due from brokers			0	12,832,000
Receivables			(907,000)	(20,000)
Prepaid and other assets			313,000	626,000
Due to brokers			61,000	(5,499,000)
Accrued and Other Liabilities			(308,000)	1,578,000
Change in restricted cash and cash equivalents			0	7,000
Net cash provided by (used in) operating activities			(450,368,000)	(1,268,276,000)
Proceeds from the sale of management contracts			0	229,000
Purchases of investments			(66,531,000)	(29,144,000)
Sales of investments			68,862,000	20,484,000
Intercompany investments in subsidiaries				0
Intercompany distributions from subsidiaries				0
Purchases of equipment and improvements			(1,059,000)	(2,204,000)
Net cash provided by (used in) investing activities			(39,862,000)	(223,529,000)
Proceeds from issuance of long-term debt			40,000,000
Debt Issuance Cost			(2,133,000)	0
Repurchases of common shares			(1,151,000)	0
Distributions paid			(10,130,000)	(9,218,000)
Intercompany contributions			0	0
Intercompany distributions			0	0
Proceeds from extension of warrants			350,000	200,000
Proceeds from the exercise of options			74,000	580,000
Payments for tax from the delivery of restricted stock units			(266,000)	0
Deferred purchase payments and payments on contingent liabilities			(3,599,000)	(8,724,000)
Excess tax benefits from share-based payment arrangements			(128,000)	(171,000)
Net cash provided by (used in) financing activities			488,908,000	1,525,598,000
Net Cash Provided by (Used in) Continuing Operations			(1,322,000)	33,793,000
Cash and cash equivalents			57,968,000	59,290,000	$ 25,497,000
Consolidated Entities
Net gain (loss) on investments in subsidiaries	0	0
Net (gain) loss on investments	(2,600,000)	(2,797,000)
Net (gain) loss on liabilities	7,384,000	2,260,000
Net other (gain) loss	0	(438,000)
Due from brokers	1,616,000	10,348,000
Receivables	(52,000)	(438,000)
Due to brokers	(22,253,000)	48,068,000
Accrued and Other Liabilities	32,000	0
Purchases of investments	(114,723,000)	(143,714,000)
Sales of investments	121,766,000	69,139,000
Interest payable	(616,000)	10,000
Change in restricted cash and cash equivalents	13,426,000	(54,873,000)
Proceeds from issuance of long-term debt	3,830,000	84,100,000
Contributions from noncontrolling interests	0	12,100,000
Distributions to noncontrolling interests	(83,000)	(970,000)
Repayments of Long-term Debt	(7,942,000)	(67,845,000)
Consolidated Entities | CIFC LLC
Net gain (loss) on investments in subsidiaries			0	0
Net (gain) loss on investments			26,114,000	228,777,000
Net (gain) loss on liabilities			(24,746,000)	8,996,000
Net other (gain) loss			(2,970,000)	(2,031,000)
Due from brokers			8,998,000	124,120,000
Receivables			(1,337,000)	(24,893,000)
Due to brokers			43,425,000	(219,117,000)
Accrued and Other Liabilities			87,000	1,145,000
Purchases of investments			(1,006,904,000)	(8,817,853,000)
Sales of investments			471,700,000	7,402,452,000
Interest payable			2,292,000	13,807,000
Change in restricted cash and cash equivalents			(41,134,000)	(212,894,000)
Proceeds from issuance of long-term debt			635,923,000	4,640,981,000
Contributions from noncontrolling interests			16,100,000	93,487,000
Distributions to noncontrolling interests			(15,307,000)	(27,098,000)
Repayments of Long-term Debt			(170,825,000)	(3,164,781,000)
Parent Company [Member]
Net income (loss)	4,505,000	0	(50,000)	0
Amortization of debt issuance costs and other	0	0	0	0
Share-based compensation	130,000	0	0	0
Net (gain) loss on investments and contingent liabilities / other (gain) loss	0	0	0	0
Net gain (loss) on investments in subsidiaries	5,075,000	0	0	0
Depreciation and amortization	0	0	0	0
Impairment of intangible assets	0	0	0
Deferred income tax expense (benefit)	0	0	0	0
Excess tax benefits from share-based payment arrangements	0	0	0	0
Net gain on sale of management contract				0
Net (gain) loss on liabilities	0	0	0	0
Due from brokers		0		0
Receivables	631,000	0	(785,000)	0
Prepaid and other assets	0	0	0	0
Due to brokers	0	0	0	0
Accrued and Other Liabilities	1,142,000	0	50,000	0
Change in restricted cash and cash equivalents				0
Net cash provided by (used in) operating activities	1,333,000	0	(785,000)	0
Proceeds from the sale of management contracts		0		0
Purchases of investments	0	0	0	0
Sales of investments	0	0	0	0
Intercompany investments in subsidiaries	0	0	0	0
Intercompany distributions from subsidiaries		0	785,000	0
Purchases of equipment and improvements	0	0	0	0
Change in restricted cash and cash equivalents		0		0
Net cash provided by (used in) investing activities	0	0	785,000	0
Proceeds from issuance of long-term debt			0
Debt Issuance Cost			0
Repurchases of common shares	(435,000)		0
Distributions paid			0	0
Intercompany contributions	0	0	0	0
Intercompany distributions	0	0	0	0
Proceeds from extension of warrants			0	0
Proceeds from the exercise of options	241,000	0	0	0
Payments for tax from the delivery of restricted stock units	(45,000)	0	0
Deferred purchase payments and payments on contingent liabilities	0	0	0	0
Excess tax benefits from share-based payment arrangements	0	0	0	0
Net cash provided by (used in) financing activities	(239,000)	0	0	0
Net Cash Provided by (Used in) Continuing Operations	1,094,000	0	0	0
Cash and cash equivalents	1,094,000	0	0	0
Parent Company [Member] | Consolidated Entities
Net gain (loss) on investments in subsidiaries	(5,075,000)	0	0	0
Net (gain) loss on investments	0	0	0	0
Net (gain) loss on liabilities	0	0	0	0
Net other (gain) loss		0	0	0
Due from brokers	0	0	0	0
Receivables	0	0	0	0
Due to brokers	0	0	0	0
Accrued and Other Liabilities	0	0	0	0
Purchases of investments	0	0	0	0
Sales of investments	0	0	0	0
Interest payable	0	0	0	0
Change in restricted cash and cash equivalents	0		0
Proceeds from issuance of long-term debt	0	0	0	0
Contributions from noncontrolling interests		0	0	0
Distributions to noncontrolling interests	0	0	0	0
Repayments of Long-term Debt	0	0	0	0
Subsidiary Issuer [Member]
Net income (loss)	870,000	5,428,000	384,000	8,381,000
Amortization of debt issuance costs and other	76,000	22,000	125,000	696,000
Share-based compensation	130,000	142,000	299,000	274,000
Net (gain) loss on investments and contingent liabilities / other (gain) loss	0	0	0	0
Net gain (loss) on investments in subsidiaries	5,859,000	13,289,000	46,577,000	50,726,000
Depreciation and amortization	839,000	1,821,000	5,543,000	8,512,000
Impairment of intangible assets	0	281,000	1,501,000
Deferred income tax expense (benefit)	1,315,000	(150,000)	11,050,000	3,932,000
Excess tax benefits from share-based payment arrangements	230,000	(8,000)	128,000	(171,000)
Net gain on sale of management contract				0
Net (gain) loss on liabilities	0	0	0	0
Due from brokers		0		0
Receivables	(3,120,000)	721,000	424,000	(721,000)
Prepaid and other assets	451,000	486,000	481,000	361,000
Due to brokers	(62,000)	0	61,000	0
Accrued and Other Liabilities	(20,015,000)	3,480,000	22,219,000	(666,000)
Change in restricted cash and cash equivalents				1,615,000
Net cash provided by (used in) operating activities	(25,145,000)	(1,066,000)	(4,362,000)	(28,513,000)
Proceeds from the sale of management contracts		0		0
Purchases of investments	0	0	0	0
Sales of investments	0	0	0	0
Intercompany investments in subsidiaries	(22,474,000)	123,962,000	(148,422,000)	(440,277,000)
Intercompany distributions from subsidiaries		123,962,000	125,404,000	478,341,000
Purchases of equipment and improvements	0	0	0	0
Change in restricted cash and cash equivalents		0		0
Net cash provided by (used in) investing activities	22,474,000	0	(23,018,000)	38,064,000
Proceeds from issuance of long-term debt			40,000,000
Debt Issuance Cost			(2,133,000)
Repurchases of common shares	0		(1,151,000)
Distributions paid			(10,130,000)	(9,218,000)
Intercompany contributions	1,891,000	0	0	0
Intercompany distributions	0	0	0	0
Proceeds from extension of warrants			350,000	200,000
Proceeds from the exercise of options	0	121,000	74,000	580,000
Payments for tax from the delivery of restricted stock units	0	(265,000)	(266,000)
Deferred purchase payments and payments on contingent liabilities	0	0	0	0
Excess tax benefits from share-based payment arrangements	230,000	(8,000)	(128,000)	(171,000)
Net cash provided by (used in) financing activities	1,661,000	(136,000)	26,616,000	(8,267,000)
Net Cash Provided by (Used in) Continuing Operations	(1,010,000)	(1,202,000)	(764,000)	1,284,000
Cash and cash equivalents	382,000	954,000	1,392,000	2,156,000	$ 872,000
Subsidiary Issuer [Member] | Consolidated Entities
Net gain (loss) on investments in subsidiaries	(5,859,000)	(13,289,000)	(46,577,000)	(50,726,000)
Net (gain) loss on investments	0	0	0	0
Net (gain) loss on liabilities	0	0	0	0
Net other (gain) loss		0	0	0
Due from brokers	0	0	0	0
Receivables	0	0	0	0
Due to brokers	0	0	0	0
Accrued and Other Liabilities	0	0	0	0
Purchases of investments	0	0	0	0
Sales of investments	0	0	0	0
Interest payable	0	0	0	0
Change in restricted cash and cash equivalents	0		0
Proceeds from issuance of long-term debt	0	0	0	0
Contributions from noncontrolling interests		0	0	0
Distributions to noncontrolling interests	0	0	0	0
Repayments of Long-term Debt	0	0	0	0
Guarantor Subsidiaries [Member]
Net income (loss)	10,935,000	13,291,000	46,577,000	50,726,000
Amortization of debt issuance costs and other	0	0	0	321,000
Share-based compensation	2,121,000	1,538,000	5,251,000	2,418,000
Net (gain) loss on investments and contingent liabilities / other (gain) loss	(1,315,000)	(225,000)	$ 8,281,000	(731,000)
Net gain (loss) on investments in subsidiaries	871,000	0		0
Depreciation and amortization	457,000	588,000	$ 2,234,000	2,909,000
Impairment of intangible assets	531,000	0	327,000
Deferred income tax expense (benefit)	0	0	0	0
Excess tax benefits from share-based payment arrangements	0	0	0	0
Net gain on sale of management contract				(229,000)
Net (gain) loss on liabilities	364,000	713,000	2,210,000	2,932,000
Due from brokers		(974,000)		13,827,000
Receivables	19,335,000	(3,163,000)	(21,480,000)	441,000
Prepaid and other assets	(1,299,000)	(1,489,000)	(168,000)	43,000
Due to brokers	1,000	6,245,000	0	(508,000)
Accrued and Other Liabilities	(5,194,000)	(7,920,000)	(1,928,000)	2,246,000
Change in restricted cash and cash equivalents				(1,608,000)
Net cash provided by (used in) operating activities	24,701,000	5,763,000	104,356,000	4,593,000
Proceeds from the sale of management contracts		0		229,000
Purchases of investments	(17,553,000)	(78,632,000)	(232,539,000)	(136,136,000)
Sales of investments	12,466,000	57,449,000	154,179,000	172,819,000
Intercompany investments in subsidiaries	2,151,000	0	0	0
Intercompany distributions from subsidiaries		0	0	0
Purchases of equipment and improvements	(61,000)	(403,000)	(1,059,000)	(2,204,000)
Net cash provided by (used in) investing activities	(7,299,000)	(20,831,000)	(72,548,000)	27,835,000
Proceeds from issuance of long-term debt			0
Debt Issuance Cost			0
Repurchases of common shares	0		0
Distributions paid			0	0
Intercompany contributions	9,629,000	123,962,000	148,422,000	440,277,000
Intercompany distributions	32,073,000	123,962,000	(126,189,000)	(478,341,000)
Proceeds from extension of warrants			0	0
Proceeds from the exercise of options	0	0	0	0
Payments for tax from the delivery of restricted stock units	0	0	0
Deferred purchase payments and payments on contingent liabilities	(999,000)	(1,559,000)	(3,599,000)	(8,724,000)
Excess tax benefits from share-based payment arrangements	0	0	0	0
Net cash provided by (used in) financing activities	(23,443,000)	(1,559,000)	(32,366,000)	4,212,000
Net Cash Provided by (Used in) Continuing Operations	(6,041,000)	(16,627,000)	(558,000)	36,640,000
Cash and cash equivalents	50,535,000	40,507,000	56,576,000	57,134,000	20,494,000
Guarantor Subsidiaries [Member] | Consolidated Entities
Net gain (loss) on investments in subsidiaries	(871,000)	0	0	0
Net (gain) loss on investments	0	(796,000)	(796,000)	803,000
Net (gain) loss on liabilities	0	0	0	$ 0
Net other (gain) loss		0	0
Due from brokers	0	14,459,000	36,645,000	$ (36,645,000)
Receivables	0	(352,000)	281,000	(281,000)
Due to brokers	0	(7,882,000)	(15,583,000)	15,583,000
Accrued and Other Liabilities	0	6,000	0	0
Purchases of investments	0	(55,017,000)	(55,017,000)	(102,448,000)
Sales of investments	0	47,462,000	99,895,000	57,563,000
Interest payable	0	(8,000)	(163,000)	163,000
Change in restricted cash and cash equivalents	0	755,000	6,871,000	(6,873,000)
Proceeds from issuance of long-term debt	0	0	0	51,000,000
Contributions from noncontrolling interests		0	0	0
Distributions to noncontrolling interests	0	0	0	0
Repayments of Long-term Debt	0	0	(51,000,000)	0
Non-Guarantor Subsidiaries [Member]
Net income (loss)	414,000	561,000	1,203,000	(19,097,000)
Amortization of debt issuance costs and other	0	0	0	0
Share-based compensation	0	0	0	0
Net (gain) loss on investments and contingent liabilities / other (gain) loss	0	0	0	0
Net gain (loss) on investments in subsidiaries	0	0	0	0
Depreciation and amortization	0	0	0	0
Impairment of intangible assets	0	0	0
Deferred income tax expense (benefit)	0	0	0	0
Excess tax benefits from share-based payment arrangements	0	0	0	0
Net gain on sale of management contract				0
Net (gain) loss on liabilities	0	0	0	0
Due from brokers		0		(995,000)
Receivables	0	0	(245,000)	17,000
Prepaid and other assets	0	0	0	222,000
Due to brokers	0	0	0	(4,991,000)
Accrued and Other Liabilities	0	0	0	$ (271,000)
Change in restricted cash and cash equivalents
Net cash provided by (used in) operating activities	(6,016,000)	(14,917,000)	(548,506,000)	$ (1,234,813,000)
Proceeds from the sale of management contracts		0
Purchases of investments	0	0	0	$ 15,735,000
Sales of investments	0	0	9,660,000	1,001,000
Intercompany investments in subsidiaries	0	0	0	0
Intercompany distributions from subsidiaries		0	0	0
Purchases of equipment and improvements	0	0	0	0
Net cash provided by (used in) investing activities	13,426,000	(55,628,000)	(38,345,000)	(189,285,000)
Proceeds from issuance of long-term debt			0
Debt Issuance Cost			0
Repurchases of common shares	0		0
Distributions paid			0	0
Intercompany contributions	24,000	0	0	0
Intercompany distributions	24,000	0	0	$ 0
Proceeds from extension of warrants			0
Proceeds from the exercise of options	0	0	0	$ 0
Payments for tax from the delivery of restricted stock units	0	0	0
Deferred purchase payments and payments on contingent liabilities	0	0	0	0
Excess tax benefits from share-based payment arrangements	0	0	0	0
Net cash provided by (used in) financing activities	(7,410,000)	70,545,000	586,851,000	1,419,967,000
Net Cash Provided by (Used in) Continuing Operations	0	0	0	(4,131,000)
Cash and cash equivalents	0	0	0	0	4,131,000
Non-Guarantor Subsidiaries [Member] | Consolidated Entities
Net gain (loss) on investments in subsidiaries	0	0	0	0
Net (gain) loss on investments	(2,600,000)	(2,001,000)	26,910,000	227,974,000
Net (gain) loss on liabilities	10,487,000	1,826,000	(26,147,000)	18,123,000
Net other (gain) loss		(438,000)	(2,970,000)	(2,031,000)
Due from brokers	1,616,000	(4,111,000)	(27,647,000)	160,765,000
Receivables	(52,000)	(86,000)	(1,618,000)	(24,613,000)
Due to brokers	(22,253,000)	55,950,000	59,008,000	(220,939,000)
Accrued and Other Liabilities	(11,000)	384,000	460,000	1,653,000
Purchases of investments	(114,723,000)	(88,697,000)	(951,887,000)	(8,715,405,000)
Sales of investments	121,766,000	21,677,000	371,805,000	7,331,128,000
Interest payable	(660,000)	18,000	2,622,000	13,647,000
Change in restricted cash and cash equivalents	13,426,000	(55,628,000)	(48,005,000)	(206,021,000)
Proceeds from issuance of long-term debt	3,830,000	73,777,000	809,695,000	4,702,304,000
Contributions from noncontrolling interests		14,712,000	37,741,000	93,587,000
Distributions to noncontrolling interests	(83,000)	(970,000)	(15,307,000)	(37,783,000)
Repayments of Long-term Debt	(11,157,000)	(16,974,000)	(245,278,000)	(3,338,141,000)
Consolidation, Eliminations [Member]
Net income (loss)	(12,217,000)	(13,598,000)	(47,149,000)	(52,333,000)
Amortization of debt issuance costs and other	0	0	0	0
Share-based compensation	0	0	0	0
Net (gain) loss on investments and contingent liabilities / other (gain) loss	1,408,000	(255,000)	(1,890,000)	1,189,000
Net gain (loss) on investments in subsidiaries	(11,805,000)	(13,289,000)	(46,577,000)	(50,726,000)
Depreciation and amortization	0	0	0	0
Impairment of intangible assets	0	0	0
Deferred income tax expense (benefit)	0	0	0	0
Excess tax benefits from share-based payment arrangements	0	0	0	0
Net gain on sale of management contract				0
Net (gain) loss on liabilities	0	0	0	0
Due from brokers		0		0
Receivables	(18,696,000)	2,903,000	21,179,000	243,000
Prepaid and other assets	0	0	0	0
Due to brokers	0	0	0	0
Accrued and Other Liabilities	18,606,000	(2,514,000)	(20,649,000)	269,000
Change in restricted cash and cash equivalents				0
Net cash provided by (used in) operating activities	(2,110,000)	(131,000)	(1,071,000)	(9,543,000)
Proceeds from the sale of management contracts		0		0
Purchases of investments	1,419,000	65,439,000	166,008,000	91,257,000
Sales of investments	(2,754,000)	(22,148,000)	(94,977,000)	(153,336,000)
Intercompany investments in subsidiaries	20,323,000	(123,962,000)	148,422,000	440,277,000
Intercompany distributions from subsidiaries		(123,962,000)	(126,189,000)	(478,341,000)
Purchases of equipment and improvements	0	0	0	0
Net cash provided by (used in) investing activities	(21,658,000)	43,291,000	93,264,000	(100,143,000)
Proceeds from issuance of long-term debt			0
Debt Issuance Cost			0
Repurchases of common shares	0		0
Distributions paid			0	0
Intercompany contributions	(11,544,000)	(123,962,000)	(148,422,000)	(440,277,000)
Intercompany distributions	(32,097,000)	(123,962,000)	126,189,000	478,341,000
Proceeds from extension of warrants			0	0
Proceeds from the exercise of options	0	0	0	0
Payments for tax from the delivery of restricted stock units	0	0	0
Deferred purchase payments and payments on contingent liabilities	0	0	0	0
Excess tax benefits from share-based payment arrangements	0	0	0	0
Net cash provided by (used in) financing activities	23,768,000	(43,160,000)	(92,193,000)	109,686,000
Net Cash Provided by (Used in) Continuing Operations	0	0	0	0
Cash and cash equivalents	0	0	0	0	$ 0
Consolidation, Eliminations [Member] | Consolidated Entities
Net gain (loss) on investments in subsidiaries	11,805,000	13,289,000	46,577,000	50,726,000
Net (gain) loss on investments	0	0	0	0
Net (gain) loss on liabilities	(3,103,000)	434,000	1,401,000	(9,127,000)
Net other (gain) loss		0	0	0
Due from brokers	0	0	0	0
Receivables	0	0	0	1,000
Due to brokers	0	0	0	(13,761,000)
Accrued and Other Liabilities	43,000	(390,000)	(373,000)	(508,000)
Purchases of investments	0	0	0	0
Sales of investments	0	0	0	13,761,000
Interest payable	44,000	0	(167,000)	(3,000)
Change in restricted cash and cash equivalents	0	0	0	0
Proceeds from issuance of long-term debt	0	10,323,000	(173,772,000)	(112,323,000)
Contributions from noncontrolling interests		(2,612,000)	(21,641,000)	(100,000)
Distributions to noncontrolling interests	0	0	0	10,685,000
Repayments of Long-term Debt	$ 3,215,000	$ (50,871,000)	$ 125,453,000	$ 173,360,000

SUBSEQUENT EVENTS (Details)135

SUBSEQUENT EVENTS (Details) - $ / shares	May. 09, 2016	Mar. 21, 2016	Mar. 31, 2016	Mar. 31, 2015
Subsequent Event [Line Items]
Dividends declared, usd per share			$ 0.34	$ 0.10
Subsequent Event
Subsequent Event [Line Items]
Dividends declared, usd per share	$ 0.25	$ 0.34
Quarterly | Subsequent Event
Subsequent Event [Line Items]
Dividends declared, usd per share	0.10	0.10
Special | Subsequent Event
Subsequent Event [Line Items]
Dividends declared, usd per share	$ 0.15	$ 0.24