Brookfield Asset Management Ltd. Class A (TSE:BAM) has released an update.
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Brookfield Asset Management is set to acquire a 51% interest in Castlelake’s fee-related earnings and invest a total of $1.5 billion into the firm’s funds and strategies, aiming to expand its presence in the asset-based private credit sector. This strategic partnership will leverage Castlelake’s expertise in aviation and specialty finance, as well as Brookfield’s substantial credit operations, to serve a growing investor demand for diverse credit strategies. The deal, maintaining Castlelake’s independence and leadership, is anticipated to close in the third quarter of 2024.
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