Castlelake, L.P.

Castlelake, L.P. is a premier global alternative investment manager that specializes in asset-based private credit and opportunistic investments across themes such as aviation, specialty finance, and real assets. Founded in 2005 by Rory O’Neill and Evan Carruthers, the firm carved out a niche as a relationship-oriented liquidity provider, particularly in complex and distressed asset environments. Over the years, it has significantly expanded its footprint, managing billions in assets for a diverse group of institutional investors including pensions, endowments, and sovereign wealth funds.

In a major strategic evolution announced in May 2024, Brookfield Asset Management entered into an agreement to acquire a 51% majority stake in Castlelake’s fee-related earnings. This partnership, which became effective as the primary ownership structure heading into 2025 and 2026, integrates Castlelake’s specialized credit expertise into Brookfield’s massive global investment platform. While the firm maintains its operational independence and its headquarters in Minneapolis, Minnesota, it now functions as a strategic partner under the broader Brookfield umbrella, leveraging the latter's trillion-dollar reach to scale its infrastructure, renewable energy, and aviation financing solutions.