Brookfield Asset Management and Castlelake enter strategic partnership

Brookfield Asset Management and Castlelake, an alternatives asset manager specializing in asset-based private credit, have announced that they have entered into an agreement whereby Brookfield will acquire a 51 percent stake in Castlelake’s fee-related earnings. The amount of capital to be invested will be approximately $1.5 billion, including capital to be invested in Castlelake’s investment strategies by Brookfield Reinsurance. The partnership will allow Castlelake and Brookfield to collaborate and expand Castlelake’s differentiated asset-based investment business.

Craig Noble, CEO of Brookfield Credit, said, “We are thrilled to be partnering with Castlelake, a leading asset-based private credit business with an exceptional management team. There is strong demand for Castlelake’s leading private credit strategies, and tremendous growth potential in the asset class. We look forward to helping Castlelake scale their business, and the addition of their capabilities e