Brookfield Partners with Angel Oak for Strategic Growth
NEW YORK AND ATLANTA – Brookfield, a global leader in alternative asset management, and Angel Oak Companies, known for its expertise in mortgage and consumer products, have officially completed a strategic partnership. This collaboration marks a significant milestone for both companies, with Brookfield acquiring a majority stake in Angel Oak, which adds substantial residential mortgage credit capabilities to Brookfield's extensive $332 billion credit platform.
Enhancing Capabilities and Accelerating Growth
The partnership is poised to accelerate the growth trajectory of Angel Oak while solidifying Brookfield’s objective of integrating best-in-class credit managers alongside existing investment strategies across various sectors such as infrastructure, real estate, asset-backed finance, and corporate credit. This dynamic combination is anticipated to foster an environment ripe for innovation.
Insights from Leadership
The co-founders and Co-CEOs of Angel Oak, Sreeni Prabhu and Mike Fierman, expressed their enthusiasm in a joint statement, stating their eagerness to harness Brookfield's global resources and expertise to enhance their operational scale and expand their mortgage solutions. They emphasized that this partnership is not only advantageous to Angel Oak but also opens avenues for further innovation, allowing them to better serve their clients in accessing residential mortgage credit.
A Commitment to Excellence
Craig Noble, the CEO of Brookfield Credit, commented on the exciting partnership, highlighting Angel Oak's standing as a top-tier manager in the mortgage and consumer products arena. He noted that Angel Oak's strong origination capabilities greatly complement Brookfield's broader credit strategy. The collaboration aims at enhancing institutional relationships and supporting continued growth for the firm.
Angel Oak's Established Growth Track Record
Since its inception in 2008, Angel Oak has rapidly evolved into a prominent alternative asset manager, amassing over $22 billion in assets under management. The firm stands out by offering differentiated access to U.S. non-agency residential mortgages through a vertically integrated model. This model integrates its non-bank wholesale mortgage originator, Angel Oak Mortgage Solutions, with its asset management sector, Angel Oak Capital Advisors. Their successful track record includes originating more than $32 billion in residential mortgage loans over the past decade, alongside issuing over 65 securitizations. This growth is expected to persist, especially as they target borrower segments that have been underserved by traditional lenders.
Independent Operations with Strong Leadership
As part of the agreement, Angel Oak will retain its operational independence while sustaining its current management team, including the Co-CEOs. This decision aims to maintain the established culture and operational efficiencies that have driven their success.
About Brookfield Asset Management
Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a prominent global asset manager headquartered in New York, managing over $1 trillion in various asset classes, including infrastructure, renewable power, private equity, real estate, and credit. Their investment strategy focuses on long-term value creation through real assets and essential services that underpin the global economy. They cater to a diverse clientele, which includes public and private pension plans, sovereign wealth funds, and financial institutions.
Brookfield's Credit Strategies
Brookfield’s Credit business specializes in managing approximately $332 billion in assets worldwide. They utilize a multifaceted approach across various credit investment strategies, focusing on sectors such as infrastructure, renewables, and corporate credit. Their extensive experience enables them to provide flexible capital solutions while striving for attractive risk-adjusted returns for clients.
About Angel Oak Capital Advisors
Angel Oak Capital Advisors is renowned for its expertise in managing mortgage credit, structured credit, and financials credit, with approximately $22 billion in assets. Their commitment to delivering risk-adjusted returns through stable income and price appreciation continues to attract institutional and individual investors alike.
About Angel Oak Mortgage Solutions
Recognized as a leader in alternative lending solutions, Angel Oak Mortgage Solutions LLC is a leading non-bank wholesaler and correspondent lender specializing in non-QM loans. They pride themselves on a practical approach to addressing contemporary mortgage lending challenges and offer an expansive range of non-QM products, thus broadening access to financing for diverse borrower segments.
Contact Information
Brookfield Contact:
Media: Rachel Wood
Tel: (212) 618-3490
Email: rachel.wood@brookfield.com
Investor Relations: Jason Fooks
Tel: (212) 417-2442
Email: jason.fooks@brookfield.com
Angel Oak Contact:
Media: Trevor Davis
Tel: (215) 475-5931
Email: trevor@gregoryfca.com
Investor Relations: Randy Chrisman
Tel: (404) 953-4969
Email: randy.chrisman@angeloakcapital.com
Frequently Asked Questions
What is the nature of the partnership between Brookfield and Angel Oak?
The partnership involves Brookfield acquiring a majority stake in Angel Oak, enhancing its mortgage credit capabilities.
How will this partnership benefit Angel Oak?
This collaboration is expected to accelerate Angel Oak's growth and open new opportunities for innovation in residential mortgage credit.
What is Angel Oak's background in the mortgage industry?
Founded in 2008, Angel Oak has grown to manage over $22 billion in assets and has a strong track record in originating residential mortgage loans.
Who are the key executives involved in this strategic alliance?
Sreeni Prabhu and Mike Fierman are the Co-CEOs of Angel Oak, and they will continue to lead the company independently post-acquisition.
What services does Brookfield Asset Management offer?
Brookfield specializes in a range of alternative investments, including infrastructure, renewable energy, private equity, real estate, and credit management.
