Castlelake LP, which has about $22 billion in assets under management, is exploring options including a sale, according to people with knowledge of the matter.
The firm, founded in 2005 by co-Chief Executive Officers Rory O’Neill and Evan Carruthers, is mulling selling a controlling stake in itself, said one of the people, all of whom asked not to be identified discussing confidential talks. No final decisions have been made and the firm could elect to remain independent.
A representative for Castlelake declined to comment.
The Minneapolis-based firm, which specializes in real assets, specialty finance and aircraft investing, manages capital on behalf of about 200 institutions including endowments, pension plans, family offices, insurance companies and sovereign-wealth funds, its website shows.
Castlelake has been among the private-credit lenders that have taken advantage of the regional-bank pullback, buying up bundles of consumer loans from financial technology firms such as Upstart Holdings Inc. and Oportun Financial Corp.
Alternative-asset managers have been seeking to capture larger allocations from limited partners. TPG Inc. this year purchased credit- and real estate-focused Angelo Gordon & Co., a move that boosted its assets under management by $74 billion. General Atlantic, which bought Iron Park Capital Partners in April, has outlined plans to expand beyond its growth-equity roots, while CVC Advisers agreed in September to buy infrastructure investor DIF Capital Partners. And last year, Carlyle Group Inc. bought a portfolio of assets from Eldridge’s CBAM Partners.
Jim Cahn, of Wealth Enhancement Group, lifts the lid on his firm's partnership model, his views on RIA M&A, and the widely slept-on reason why advisors are merging into larger organizations.
The fintech firm is cementing its status in the workplace savings space with its latest ESA offering, which employers can integrate into their existing benefits package.
Wealth managers offer unique ideas for couples to grow closer emotionally and financially.
Survey findings suggest increased sense of financial security and more optimistic 2025 outlook, while highlighting employers' role in ensuring retirement readiness.
Falling prices for some securities within the $4 trillion state and local government debt market spotlight how the push to shrink spending is sending shockwaves across the US.
Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies
From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.