Brookfield Asset Management completed the acquisition of a 51% stake in Castlelake’s fee-related earnings for $1.5bn.

Brookfield Asset Management, a private equity firm, completed the acquisition of a 51% stake in alternatives asset manager Castlelake's fee-related earnings, for $1.5bn. "We're thrilled to begin realizing our partnership with Brookfield and the incremental value that it will bring to our firm, clients and employees. Castlelake and Brookfield are aligned in approach and values and complement each other in expertise and experience. We believe that being a part of Brookfield will help accelerate Castlelake's innovation and scale our platform while preserving the expertise and focused approach that has made our firm unique for so many years," Rory O’Neill and Evan Carruthers, Castlelake Founders.