Brookfield Asset Management and Castlelake have closed a $1.5 billion strategic partnership in which Brookfield has acquired a 51 percent stake in Castlelake’s fee-related earnings and Brookfield Wealth Solutions has committed to invest into Castlelake’s investment strategies and private funds.
Castlelake will continue to operate its business independently, retaining its current governance and leadership structure, including Rory O’Neil, co-founder, as executive chair and Evan Carruthers, co-founder, as CEO and CIO. It will retain majority ownership of its performance-related earnings.