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.
Preparing your clients to withstand the ups and downs of change – both external and internal – could be the key to unlocking their loyalty, trust, and confidence.
After leaving LPL in 2020, it hasn’t gone Cornick’s way at Osaic.
The finance professor and quant investing veteran believes with the right guardrails, artificial intelligence could be trusted to meet the high bar of fiduciary advice.
UBS has also regained some ground as it recruited an experienced Merrill advisor in New York.
The ex-Bay Area broker reportedly continued to peddle fake bond investments, promising rates of returns exceeding 20%, even after FINRA suspended his license in 2014.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
