Brookfield Asset Management Ltd. Class A (TSE:BAM) has released an update.
Brookfield Asset Management is set to acquire a 51% interest in Castlelake L.P.’s fee-related earnings, as well as investing approximately $1.5 billion in Castlelake’s asset-based investment strategies. This strategic partnership is aimed at scaling Castlelake’s business and leveraging the growing demand in the asset-based private credit sector. While Castlelake will maintain its operational independence and leadership, the deal is anticipated to close in Q3 of 2024, enhancing value for investors and contributing to Brookfield’s extensive $300 billion credit business.
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