Castlelake provides financing for several large airlines, including United Airlines and Turkish Airlines, that is secured against their planes. If a deal is agreed, the company would sit in Brookfield’s recently formed credit unit, which also holds a controlling interest in Oaktree Capital Management.
The talks between Brookfield and Castlelake, which are reportedly at a late stage but could still fail to progress, are part of a wider trend that has seen several large private equity and asset management groups — including TPG, BlackRock, T Rowe Price and CVC Capital Partners — acquire credit managers as they look to diversify their assets.
Source:Private Equity Wire
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