Brookfield and Castlelake completes strategic partnership transaction

Brookfield Asset Management and Castlelake closed a $1.5bn strategic partnership in which Brookfield acquired a 51% stake in Castlelake’s fee-related earnings and Brookfield Wealth Solutions has committed to invest into Castlelake’s investment strategies and private funds. “Castlelake and Brookfield are aligned in approach and values and complement each other in expertise and experience,” Castlelake cofounders Rory O’Neill and Evan Carruthers read in a joint statement. “We believe that being a part of Brookfield will help accelerate Castlelake’s innovation and scale our platform while preserving the expertise and focused approach that has made our firm unique for so many years.” Brookfield