WASHINGTON (dpa-AFX) - Castlelake L.P. announced on Tuesday that Brookfield Asset Management Inc. (BAM) has completed a $1.5 billion strategic partnership with Castlelake L.P., in which Brookfield has acquired a 51 percent stake in Castlelake's fee-related earnings.
The Brookfield Wealth Solutions has also committed to invest into Castlelake's investment strategies and private funds.
Craig Noble, CEO of Brookfield Credit, said: 'We're pleased to formally begin our strategic partnership with Castlelake and bring its asset-based investment capabilities into the Brookfield ecosystem...'
Founded in 2005, Castlelake is an investment firm with a focus on asset-based investments.
Castlelake manages around $24 billion of assets on behalf of over 200 diverse institutional investors.
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