Brookfield Asset Management is acquiring a majority ownership stake in Angel Oak, an asset manager specializing in mortgage and consumer products with over $18 billion in assets under management. This acquisition is part of Brookfield's strategy to partner with credit managers and enhance its direct investment platform.
Angel Oak will join Brookfield's $317 billion credit business, with its origination and investment capabilities complementing Brookfield's overall credit offerings. The value of the transaction was not disclosed.
Angel Oak, founded in 2008, will continue to operate its business independently and retain its current leadership, with co-founders Sreeni Prabhu and Mike Fierman remaining co-Chief Executives. This strategic move strengthens Brookfield's presence in the alternative asset management sector.
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