Brookfield Asset Management Acquires 51% Stake In Castlelake's Fee-Related Earnings, Forming Strategic Partnership
Portfolio Pulse from Benzinga Newsdesk
Brookfield Asset Management (BAM) has acquired a 51% stake in Castlelake's fee-related earnings for about $1.5 billion, including investments in Castlelake's strategies by Brookfield Reinsurance. This strategic partnership aims to expand Castlelake's asset-based investment business.
May 06, 2024 | 11:15 am
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Brookfield Asset Management's acquisition of a 51% stake in Castlelake's fee-related earnings represents a strategic expansion into asset-based investment, with a $1.5 billion investment including contributions from Brookfield Reinsurance.
The acquisition is significant for BAM, indicating a strategic expansion and potential for growth in asset-based investments. The substantial investment and the formation of a strategic partnership with Castlelake suggest a positive outlook for BAM's investment portfolio and future revenue streams from fee-related earnings.
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